Iran claims negotiations are damaged; Strait of Hormuz closed again amid US-Iran talks.

Iran Claims Violations of "Ten-Point Plan" Affecting Negotiation Basis

Key Violations Noted

Iran's Islamic Consultative Assembly Speaker, Mohammad Baqer Qalibaf, stated on social media that three critical terms of the "Ten-Point Plan" for ceasefire negotiations with the U.S. have been violated. He expressed deep distrust towards the U.S., citing its repeated breaches of commitments.

Closure of the Strait of Hormuz

On April 8, the Strait of Hormuz was reported closed again. The oil tanker "AUROURA" changed course near the Musandam Peninsula, returning to the Persian Gulf. This closure follows Iran's halt of tanker traffic after Israeli attacks in Lebanon.

U.S. Clarification on Ceasefire Agreement

U.S. Vice President Vance clarified in Budapest that Iran mistakenly believed the ceasefire agreement included Lebanon, which was never promised by the U.S. He noted that Israel has shown willingness to exercise restraint in Lebanon to ensure successful negotiations.

Upcoming U.S.-Iran Talks

The White House announced that the first round of talks between the U.S. and Iran will take place on April 11 in Islamabad, led by Vice President Vance. The initial "Ten-Point Plan" proposed by Iran has been rejected by the U.S., which has instead received a modified proposal from Iran.

Federal Reserve Meeting Minutes

The latest minutes from the Federal Reserve's March meeting indicate that the ongoing conflict in the Middle East poses dual risks to the U.S. economy. Policymakers are divided on the economic outlook, with concerns about potential impacts on the labor market and inflation.

Market Reactions

On April 8, U.S. stock markets surged over 2%, with significant gains in technology and storage sectors. Intel led tech stocks with an 11.42% increase, while other major companies like Nvidia and Apple also saw gains.

Notable Stock Movements

• Intel (INTC): +11.42%
• Nvidia (NVDA): +2.23%
• Apple (AAPL): +2.13%
• Meta Platforms (META): +6.5%

Other Market Highlights

• Applied Digital (APLD) reported a revenue increase but saw a drop in stock price post-earnings.
• Levi's (LEVI) shares rose nearly 11% after reporting a 14% increase in Q1 revenue.

Conclusion

The geopolitical tensions and economic implications from the Middle East conflict continue to influence market dynamics and investor sentiment, with significant movements observed in various sectors.