Oil rose for a fifth day as concerns grew that the US and Iran were making little progress toward resuming talks on de-escalation, keeping the Strait of Hormuz effectively closed. Brent, the global crude benchmark, rose 0.9% to $106 a barrel, taking this year’s gains to about 74%. The commodity is set for its biggest weekly gain since the first week of the war as the closure of the Strait disrupts the flow of oil from the Middle East to the rest of the world.
Treasury 10-year yields and Bloomberg’s gauge of the dollar are both headed for their first weekly advance in a month as hopes for easing Middle East tensions faded, giving way to concerns about escalation. As optimism waned, MSCI’s All-Country World Index dropped 0.1% Friday, setting the gauge up for its first weekly decline in April.
Futures contracts for the Nasdaq 100 Index advanced 0.4% after a strong earnings forecast from Intel Corp. While Asian shares fluctuated, European stocks were set to open 1% lower. While risk premiums have eased in recent weeks, investors remained cautious heading into the weekend as sentiment hinges on whether tensions with Iran escalate or give way to diplomacy. Traders will watch signals from Washington and Tehran, along with shipping flows, for clues on energy supply risks, with any Strait of Hormuz disruption likely to keep oil elevated and weigh on global economic growth. The prospect of Iran agreeing to more in-person peace talks with the US is being hindered by President Donald Trump’s threats and brash social media posts, according to several officials with knowledge of the diplomatic efforts to end their war. While Trump said Israel and Lebanon will extend their ceasefire by three weeks, tensions in the Middle East remained high. US forces boarded a supertanker carrying Iranian oil in the Indian Ocean as the navy stepped up its blockade of the Islamic Republic’s shipping. Tehran continues to keep Hormuz effectively closed, preventing the passage of hundreds of millions of barrels of oil and fuel as well as other commercial traffic. “As long as flows through the Strait remain restricted, the market keeps tightening and oil inventories keep falling, oil prices will remain supported,” said Giovanni Staunovo, an analyst at UBS Group AG in Zurich. Slsewhere, the MSCI Asia Pacific Index swung between gains and losses. Stocks in Japan and Taiwan rose, while those in China and Hong Kong declined. While Wall Street gauges edged lower on Thursday, Nasdaq 100 futures rose 0.7% early Friday on optimism sparked by Intel. The chipmaker jumped 20% in after-hours trading after its sales forecast topped expectations. Semiconductor stocks were outliers in the US session, climbing for a 17th consecutive day. In Asia, Taiwan Semiconductor Manufacturing Co. climbed to a record after the country’s financial regulator eased limits on single-stock fund holdings. While markets have whipsawed on geopolitical risks, corporate profits have remained strong. Nearly 80% of the US equity benchmark’s firms have beaten first-quarter earnings estimates so far, according to data compiled by Bloomberg. As volatility increased with the onset of the Iran conflict, financial markets have proven relatively resilient, said Adam Hetts and Oliver Blackbourn at Janus Henderson. “Investors coalesced around the critical assumption that hostilities and the associated disruptions to the global economy would be short lived,” they said. “Our sentiment and positioning indicators showed drawdowns within several market segments reaching capitulation territory and could therefore represent attractive entry points.” US after INTC +19.5% up big on earnings; also moving on earnings is MXL +30.8%, WKC +22.1%, SAP +7%, FIX +6.5%; COUR -11.2%, BYD -6.2% lower on earnings.
Nikkei +0.57% Hang Seng -0.20% CSI -0.85% Shanghai -0.58% Shenzen 61.19%
Eur$ 1.1679 CNH 6.8377 CNY 6.8364 JPY 159.74 GBP 1.3461 CHF 0.7870 RUB 75.7605 TRY 45.0124 WTI$ 96.44 +0.62% Gold 4,665.50 -1.21% BTC 77,640 -0.17% ETH 2,304 -0;76%
S&P +0.09% Nasdaq +0.54% EuroStoxx -0.56% FTSE -0.78% Dax +0.06% SMI -0.42%
Macro :
- Goldman Sees $23 Billion US Pension Rebalancing: Equity Insight
- Iran deploys more mines in the Strait of Hormuz, sources say
- BOE’s Breeden Warns Stock Markets May Be Poised to Fall: BBC
Keep an eye on :
Keep an eye on :
- ABBV US : AbbVie Receives FDA Rejection for TrenibotE Fast Acting Botox
- ANA SM : Nadara, Qualitas Are Said to Be Bidders for Acciona Wind Assets
- AC FP : Accor Sales Miss as Iran War Hurts Travel Demand in Middle East
- ADP FP : ADP to Sell Up To 7.3% Stake in India’s GMR Airports, Paris Airport Group Cuts Stake in India’s GMR in $1 Billion Deal
- ADYEN NA : Adyen to Buy Talon.One for €750m: M&A Snapshot
- AI Coding : AI Coding Firm Cognition in Funding Talks at $25 Billion Value
- AMZN US : Amazon-Backed Nuclear Firm X-Energy Raises $1.02 Billion in IPO
- Anthropic IPO : Anthropic Says It’s Expanding What Can Be Connected to Claude
- AOF GY : Atoss Software Boosts FY Ebit Margin Forecast
- APETIT FH : Apetit 1Q Sales Miss Estimates
- BOL FP : Bollore 1Q Revenue EU815M Vs. EU782M Y/y
- CCC SS : Cavotec 1Q Revenue Misses Estimates
- CARM FP : Carmila 1Q Net Rental Income EU100.7M Vs. EU100.5M Y/y
- CEVI SS : CellaVision 1Q Sales Miss Estimates
- CLARI FP : Clariane 1Q Organic Revenue +4.9%
- COLOB DC : Coloplast Sees FY Revenue +3%
- DeepSeek IPO : DeepSeek Unveils Flagship AI Model a Year After Breakthrough
- CVC NA : CVC, Greece to Participate in Public Power Capital Raise: Terms
- DEEZR FP : Deezer 1Q Revenue EU131.9M Vs. EU134M Y/y
- DYVOXX SS : Dynavox 1Q Revenue Misses Estimates
- ELUXB SS : Electrolux To Issue SEK9B in Shares, Form JV W/ Midea, Cut Jobs
- ENT LN : Entain Shares Erase Decline After Betaville ‘Uncooked Alert’
- FLOW NA : Flow Traders 1Q Net Trading Income Beats Estimates
- FNAC FP : Fnac Darty 1Q Revenue EU2.31B
- FRVIA FP : Forvia 1Q Sales Meet Ests; Progress on Interiors Ops Sale
- HIAB FH : Hiab 1Q Comparable Operating Profit Beats Estimates
- HOLN SW : Holcim Maintains FY Organic Sales Forecast
- IFCN SW : Inficon Boosts FY Operating Margin Forecast
- INDT SS : Indutrade 1Q Orders Meets Estimates
- INTC US : Intel Soars After Strong Results and Robust Forecast
- KEMIRA FH : Kemira Starts Labor Talks Which Could Lead to 150 Job Cuts
- KIT NO : Kitron 1Q Revenue Beats Estimates
- KNIN SW: Kuehne + Nagel 1Q Net Revenue Misses Estimates, Kuehne + Nagel Narrows FY Recurring Ebit Forecast
- LIFCOB SS : Lifco 1Q Net Sales Meet Estimates
- FII FP : LISI 1Q Sales EU468.0M Vs. EU442M Y/y
- LULU US : Lululemon’s New CEO Has Ties to One of Nike’s Biggest Missteps
- LULU US : Lululemon’s New CEO Has Ties to One of Nike’s Biggest Missteps
- MBG GY : Mercedes Sees Prolonged Slump in China Demand on Poor Economy
- META US : Meta Tells Staff It Will Cut 10% of Jobs in Push for Efficiency
- NETEL SS : Netel 1Q Sales Miss Estimates
- NXI FP : Nexity 1Q Revenue EU518M Vs. EU590M Y/y
- BMPS IM : Monte Paschi Names Luigi Lovaglio CEO
- BMPS IM : Monte Paschi CEO Mulls Using Generali Stake for Banco Deal: FT
- NEM US : Newmont Pledges to Buy Backs $6 Billion in Stock on Gold Rally
- SAVE SS : Nordnet 1Q Net Income SEK839M Vs. SEK799M Y/y
- NSKOG NO : Norske Skog 1Q Ebitda Beats Estimates
- NOVN SW : Novartis Malaria Treatment for Babies Gets WHO Prequalification
- OMV AV : OMV New Zealand Sees Maui Gas Field Ceasing Production in 2026
- REGN US : Trump Says Regeneron Will Invest $27b in the US
- REGN US : Regeneron to Offer Hearing-Loss Therapy for Free After FDA Nod
- RHI US : Robert Half 1Q EPS Beats Estimates
- SAABB SS : NATO Chooses Saab, Bombardier for Aircraft Deal, Report Says
- SGO FP : Saint-Gobain 1Q Like-for-Like Sales Beat Estimates
- SAP GY :SAP 1Q Non-IFRS Revenue Meets Estimates, SAP Rises as Results Help Calm AI Disruption Fears: Street Wrap
- SK FP : SEB 1Q Sales Meet Estimates
- ENR GY : Siemens Energy Boosts FY Profit Margin Ex Items Forecast
- LIGHT NA : Signify 1Q Comparable Sales Miss Estimates
- Space X IPO : SpaceX's IPO Will Help Elon Musk Consolidate Power. Investors Welcome It. -- WSJ
- SPIE FP : Spie 1Q France Revenue Beats Estimates, Spie 1Q Revenue EU2.45B Vs. EU2.42B Y/y
- TEF SM : *TELEFONICA FIRES CEO OF TV UNIT MOVISTAR PLUS, EL PAIS REPORTS
- TELIA SS : Telia 1Q Adjusted Ebitda Beats Estimates
- TKO FP : Tikehau Capital Assets Under Management EU53B
- TMUS : T-Mobile Increases Shareholder Return Program by $3.6b
- TOM NO ; Tomra 1Q Revenue EU334M
- URW FP : Unibail 1Q Revenue EU772.1M
- VAIA SH : Vaisala 1Q Ebit Beats Estimates
- FR FP : Valeo 1Q Revenue Beats Estimates
- DG FP : Vinci 1Q Revenue EU16.28B Vs. EU16.32B Y/y (1)
- VIS SM : Viscofan 1Q Ebitda Misses Estimates
- VLTSA FP : Voltalia 1Q Turnover €133.3m, +25% Y/y Constant FX
- VOLVB SS : Volvo 1Q Net Sales Miss Estimates, Volvo Truck Orders Jump 14% on Stronger Europe, Americas Demand
- WDP BB : WDP 1Q Adjusted EPS Beats Estimates
- XIOR BB : Xior 1Q EPRA NTA/Shr EU39.47 Vs. EU40.10 Y/y
- YAR NO : Yara 1Q Adjusted Ebitda Beats Estimates