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US Stocks Close Strong Week Despite Iran War Uncertainty
Major US stock indexes finished Thursday with slim gains, capping their first winning week since the Iran conflict began. The S&P 500 rose 0.1%, the Nasdaq gained 0.2%, and the Russell 2000 jumped 0.7%, with weekly gains of 3.4%, 4.4%, and 3.3% respectively.
Oil Prices Surge to $111.54 Amid Middle East Conflict
U.S. crude oil rose 11.4% to $111.54 a barrel on Thursday following President Trump's late Wednesday address, where he vowed continued attacks on Iran without offering a clear timeline for ending the conflict. Brent crude, the international standard, jumped 7.8% to $109.03 per barrel
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Tesla Shares Decline Over 5% on Q1 Delivery Shortfall
Tesla stock fell more than 5% after the company's first quarter deliveries fell short of market estimates. The underperformance marked one of the biggest corporate news items for the trading day.
Strong US Jobs Data Offsets Market Concerns
American employers added a surprisingly strong 178,000 new jobs in March, rebounding from February's 133,000 job losses, with the unemployment rate dipping to 4.3% from 4.4%. Despite positive employment data, U.S. futures were trading modestly lower early Friday as markets remained closed for Good Friday
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Global Oil Stockpiles Risk Critically Low Levels
Global oil stockpiles could sink to critically disruptive levels soon, potentially sparking more shortages, with J.P. Morgan noting that a full recovery to prewar levels may take about four months after the Strait of Hormuz reopens. The warning reflects growing concerns about prolonged supply chain disruptions amid the Iran conflict
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Citigroup Declares Quarterly Dividend of $0.60 Per Share
Citigroup announced a quarterly dividend on its common stock of $0.60 per share, payable on May 22, 2026, to stockholders of record on May 4, 2026.
Energy Stocks Show Mixed Performance Amid Oil Surge
Energy sector stocks like Exxon and Chevron emerged among Q1's high-yielding winners, while other sectors saw volatility, with aluminum stock Alcoa gaining 22% and Nike falling 14% during the period.
Bond Yields Rise Amid Inflation Concerns from Oil Spike
Bond yields rose across the market in the first quarter as the oil price spike renewed inflation concerns, reflecting broader market anxiety about potential stagflation risks.
Asian Markets Rise Despite US Futures Decline
In Asia, Japan's Nikkei 225 gained 1.3% to 53,123.49 and South Korea's Kospi jumped 2.7% to 5,377.30, while the Shanghai Composite sank 1.0% to 3,880.10 as global markets showed mixed signals.
Inflation Reports Scheduled as March CPI and February PCE Data Expected
A pair of inflation reports is on deck, with March CPI and February PCE data slated for release, marking important economic indicators following the recent oil-driven inflation concerns.
S&P 500 Down 3.8% Year-to-Date Despite Weekly Rally
Despite Thursday's and the week's strong gains, the S&P 500 remains down 262.81 points, or 3.8% for the year, reflecting persistent market headwinds since the start of 2026.