Stocks rose and oil declined after President Donald Trump signaled a willingness to resume talks with Iran, boosting expectations for a potential deal that will ease tensions in the Middle East. The MSCI All Country World Index climbed 0.4%, heading for an eighth day of gains that would be its longest winning streak since September. Asian shares followed Wall Street higher, led by technology firms, with the regional gauge rising 1.7% on optimism that easing tensions will lower oil prices and support economic growth. European shares were also set for a stronger open. Brent crude fell 1.5% to $97.90 a barrel on signs Washington and Tehran may revive peace talks even after the start of a US blockade of the Strait of Hormuz. The dollar weakened against most of its Group-of-10 peers, while Treasuries edged higher as lower oil prices eased inflation concerns. Stocks are rallying as investors focused on signs that US-Iran talks are ongoing and may gain traction, lifting confidence in a potential deal despite the blockade of the Strait of Hormuz. The US decision to blockade the waterway is also seen as a targeted measure to curb Iran’s oil revenues, while paving the way for securing shipping routes, reinforcing expectations that energy flows may eventually resume. Trump ordered the blockade of the Strait of Hormuz after negotiations in Islamabad over the weekend had failed to produce any deal. Even amid the latest escalation, the US and Iran are discussing another round of talks, according to people familiar with the matter. The goal is to hold fresh discussions before a two-week ceasefire announced April 7 expires next week, they said. Treasuries rose with the yield on the 10-year falling one basis point to 4.28% as cheaper oil helps contain inflation. Gold rebounded after two days of losses to trade around $4,775 an ounce, while Bitcoin climbed to about $74,400. Copper rose to the highest level in more than a month. Still, the technology sector led the focus, with MSCI’s Asia Pacific tech gauge jumping 4.2% and companies such as Kioxia Holdings Corp. surging 15% in Tokyo. Taiwan’s Taiex Index rose to a record as investors returned to the AI theme — seen as less impacted by the war in Iran. South Korea’s Kospi, a poster child for AI investments, surged 3.4% as sentiment improved with the S&P 500 Index erasing all losses triggered by the Iran conflict. Traders are also focused on the first-quarter earnings season, which got off to a mixed start on Monday, as they look for an early read on the financial health of corporate America. JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. are due to report Tuesday as the Middle East conflict weighs on the outlook. Goldman Sachs Group Inc. shares slipped 1.9% Monday following its results. Meanwhile, HSBC Holdings Plc Chief Executive Officer Georges Elhedery said the conflict in the Middle East and broader “uncertainties” are beginning to dent client confidence as investors navigate an increasingly volatile global landscape. US After Hours BE +12.7% after expanding its strategic partnership with Oracle (ORCL +1%); CRDO +9% on acquisition of DustPhotonics; FBK -2.9% lower on earnings.
Nikkei +2.29% Hang Seng +0.43% CSI +0.84% Shanghai +0.55% Shenzen +1%
Eur$ 1.1765 CNH 6.8143 CNY 6.8179 JPY 159.03 GBP 1.3516 CHF 0.7833 RUB 76.1644 TRY 44.7165 WTI$ 96.19 -2.31% Gold 4,765 +0.65% BTC 74,384 +1.62% ETH 2,364 +4.89%
S&P +0.03% Nasdaq +0.13% EuroStoxx +0.49% FTSE +0.03% Dax +0.66% SMI +0.36%
Macro :
- Citi Upgrades US Stocks, Cuts EM on Iran War Resolution Hopes
- US-Sanctioned Tanker Tests Trump Blockade With Hormuz Transit
- Oil Declines as US, Iran Weigh More Talks With Blockade in Place
Keep an eye on :
Keep an eye on :
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