Ceasefire and profit expectations boost S&P and Nasdaq; Trump hints at UK king's visit agreement.

US-Iran Ceasefire Consideration and Economic Updates

Ceasefire Negotiations

Reports indicate that the US and Iran are considering a two-week ceasefire extension to facilitate peace negotiations. President Trump expressed optimism about reaching an agreement with Iran before King Charles III's visit to the US from April 27-30.

Iran's Foreign Ministry has not confirmed the ceasefire extension, stating that the US should adhere to existing agreements rather than request extensions. The US White House maintains that negotiations are constructive, with Pakistan acting as a mediator.

Senate Vote on War Powers

The US Senate recently rejected a Democratic proposal aimed at limiting President Trump's military actions against Iran, with a vote of 47 in favor and 52 against. This marks the fourth rejection of such proposals since military actions began in late February.

Federal Reserve Insights

St. Louis Fed President James Bullard indicated that current interest rates may remain appropriate for an extended period due to supply shocks affecting inflation and employment targets. He revised GDP growth expectations down to 1.5%-2% for the year.

Trump hinted at firing Fed Chair Jerome Powell if he does not resign after his successor is confirmed, as he anticipates a decrease in interest rates under Kevin Warsh.

Economic Impact of Middle East Conflicts

The Fed's Beige Book reports that the ongoing military conflict with Iran is a significant source of uncertainty for the US economy, affecting hiring, pricing, and capital expenditures.

Stock Market Highlights

The S&P 500 and Nasdaq indices reached historic highs, with the S&P 500 closing above 7000 points for the first time. Notable tech stocks like Nvidia, Google, and Apple saw gains, while Tesla surged 7.62% following news of its successful A15 AI chip development.

Allbirds' Business Shift

Allbirds announced a pivot to AI computing infrastructure, leading to an 800% surge in stock price. The company plans to rebrand as NewBird AI and focus on high-performance AI computing hardware.

Hong Kong Market Movements

Recent data shows significant net buying of Hong Kong stocks, with notable purchases in Pop Mart and SMIC, while Alibaba faced net selling.

Upcoming Earnings Reports

Investors are anticipating earnings reports from major companies, including TSMC and PepsiCo, which are expected to provide insights into market trends and economic conditions.