Market News

Market Snapshot Index Close Change % Change S&P 500 7,126.06 +84.78 +1.20% NASDAQ 24,468.48 +365.78 +1.52% DOW 49,447.43 +868.71 +1.79% Russell 2000 2,776.90 +57.30 +2.11% VIX 17.48 -0.46 -2.56% Broad risk-on finish to the week. Every major index closed green, small caps led, and the VIX slid back below 18 — a sentiment reset driven by the oil crash and geopolitical de-escalation covered below. Breaking News & Macro Events Oil Prices Plunge on Iran Strait of Hormuz Declaration — CNBC WTI crude collapsed -7.21% to $83.35 and Brent fell -7.34% to $90.97 after Iran declared the Strait of Hormuz “completely open” alongside a Lebanon ceasefire framework. That single headline removed the single biggest Q2 inflation tail risk and triggered the broad rally — cruise, airline, and retail names benefitted while energy gave back gains. ...

Overnight Developments No major geopolitical or macro catalysts overnight. Asia rallied (Nikkei +2.43%, Hang Seng +1.72%) on continued tech strength, while European markets opened modestly higher. US futures are flat heading into the session. Futures & Pre-Market Index Futures Change S&P 500 7,064 -0.11% NASDAQ 26,404 -0.16% DOW 48,715 +0.00% Watchlist Movers HIMS -9.37% pre-market — Regulatory headwinds continue as the company transitions from high-margin compounded GLP-1 drugs to lower-margin branded Wegovy distribution following FDA enforcement and Novo Nordisk patent settlement. SMR -4.56% pre-market — Insider selling pressure after Fluor Corp director sold 13.5M shares ($163M) on April 9, creating supply overhang. Stock hit a new 52-week low despite positive nuclear energy tailwinds. OKLO -3.13% pre-market — Pre-revenue nuclear startup under continued selling pressure; recent regulatory approvals appear priced in with no near-term earnings catalyst. International Markets Asia was the standout overnight — the Nikkei surged 2.43% and Hang Seng gained 1.72%, driven by tech sector strength and trade optimism. Shanghai added 0.67%. Europe opened mildly positive with FTSE +0.37% and DAX +0.36%. ...

Market Snapshot Index Close Change % Change S&P 500 7,041.28 +18.33 +0.26% NASDAQ 24,102.70 +86.69 +0.36% DOW 48,578.72 +115.00 +0.24% Russell 2000 2,719.60 +5.94 +0.22% VIX 17.94 -0.23 -1.27% Breaking News & Macro Events TSMC Q1 profit surges 58% to record on AI chip demand — CNBC Taiwan Semiconductor posted record Q1 net profit of NT$572.48 billion ($35B revenue) and guided full-year 2026 revenue growth above 30% YoY. Advanced nodes contributed 75% of revenue, and Q2 guidance of $39–40.2B extends the AI capex tailwind through mid-year. The print sets a high bar for mega-cap earnings season and reinforces NVDA/AAPL/AMD supply chain strength, even as TSM shares pulled back 3.6% on a “sell the news” reaction. ...

Overnight Developments A quiet overnight session with no major geopolitical or macro catalysts. US-Iran diplomatic talks may resume in the coming days per Trump, but this was disclosed yesterday and is already priced into oil markets. Fed’s next rate decision is April 30 — no surprise central bank moves overnight. Futures & Pre-Market Index Futures Change S&P 500 7,000.25 -0.14% NASDAQ 25,975.75 -0.18% DOW 48,717.00 -0.10% Watchlist Movers OKLO -3.38% pre-market — Nuclear sector weakness continues; CEO and COO executed $21M in insider sales on April 1 via pre-scheduled 10b5-1 plans. Broader technical correction from overbought levels following March regulatory approvals. International Markets Asia closed mixed-to-positive overnight: Nikkei +0.60%, Hang Seng +0.29%, Shanghai flat. European markets edging higher at the open: FTSE +0.21%, DAX +0.07%. No significant regional catalysts driving moves. ...

Market Snapshot Index Close Change % Change S&P 500 7,022.95 +55.57 +0.80% NASDAQ 24,016.02 +376.93 +1.59% DOW 48,463.72 -72.27 -0.15% Russell 2000 2,713.66 +8.00 +0.30% VIX 18.17 -0.19 -1.03% Breaking News & Macro Events S&P 500 Breaks Above 7,000 to New All-Time High — TheStreet The S&P 500 surpassed its January record of 7,002.28 and closed at 7,022.95, a new all-time high. Tech and financials led the charge, with NASDAQ surging 1.59%. The milestone reflects renewed risk appetite as geopolitical tensions show signs of easing. ...

Overnight Developments Trump Announces Strait of Hormuz Blockade, Escalating US-Iran Conflict — CNN, Al Jazeera President Trump announced a US Navy blockade of the Strait of Hormuz starting April 14, dramatically escalating the 45-day US-Iran conflict. This follows failed negotiations in Islamabad, with Vice President Vance stating Iran “chose not to accept our terms.” The blockade threatens roughly 20% of global oil supply transit and has already pushed crude prices higher. Affected sectors: Energy, Defense, Transportation, Commodities ...

Market Snapshot Index Close Change % Change S&P 500 6,967.38 +81.14 +1.18% NASDAQ 23,639.08 +455.35 +1.96% DOW 48,535.99 +317.74 +0.66% Russell 2000 2,705.67 +35.18 +1.32% VIX 18.36 -0.77 -4.03% Breaking News & Macro Events Trump Threatens 50% Tariffs on China Over Alleged Iran Arms Shipment — CNBC President Trump escalated trade tensions with China, threatening 50% tariffs in response to reports of Chinese military support to Iran. The US tariff rate has reached 10.3% — the highest since 1947 — with Section 122 tariffs affecting 34% of US imports valued at $1.2 trillion. A Trump-Xi summit is scheduled for May 14-15, keeping the situation fluid. ...

Overnight Developments Trump Announces Strait of Hormuz Blockade as Iran Talks Collapse — CNBC President Trump announced a blockade of the Strait of Hormuz after failed negotiations with Iran over the weekend. The move is the latest escalation in the 45-day US-Iran conflict, with Iran’s Revolutionary Guards warning that military vessels approaching the strait would be considered a ceasefire breach. The IEA has described this as the most significant oil supply shock in market history. ...

Market Snapshot Index Close Change % Change S&P 500 6,886.24 +69.35 +1.02% NASDAQ 23,183.74 +280.84 +1.23% DOW 48,218.25 +301.68 +0.63% Russell 2000 2,670.49 +39.90 +1.52% VIX 19.12 -0.11 -0.57% Breaking News & Macro Events Trump Threatens 50% China Tariffs Over Iran Arms Shipment — CNBC President Trump threatened to impose 50% tariffs on China after reports surfaced of Beijing preparing weapons shipments to Iran. The escalation comes ahead of a scheduled May 14-15 summit with Xi Jinping in Beijing. Markets shrugged off the headline, closing broadly higher, but the threat adds another layer of uncertainty to an already fraught trade relationship. ...

Market Snapshot Index Close Change % Change S&P 500 6,816.89 -7.77 -0.11% NASDAQ 22,902.89 +80.48 +0.35% DOW 47,916.57 -269.23 -0.56% Russell 2000 2,630.59 -5.72 -0.22% VIX 19.23 -0.25 -1.28% Breaking News & Macro Events CPI Surges to 3.4% YoY — Headline Miss Rattles Markets — TheStreet March headline CPI came in at +0.9% MoM (vs 0.7% estimate), pushing year-over-year inflation to 3.4% — up sharply from 2.4%. Core CPI was slightly better at +0.2% vs 0.3% consensus, but the headline miss signals persistent inflationary pressure that complicates the Fed’s rate path. The Dow shed 269 points as markets repriced rate-cut expectations. ...