Trump sets no deadline for Iran ceasefire; Nasdaq and S&P hit new highs; Tesla and SK Hynix exceed expectations.

Trump Signals Possible Restart of US-Iran Talks

Trump has indicated that US-Iran negotiations could resume as early as Friday, while Iran has accused him of "lying" again. Reports suggest that the ceasefire period will end on the 26th, with Iran claiming to have received "signals" from the US about lifting maritime sanctions.

Iran's Response and Upcoming Talks

Following Iran's refusal to attend the Islamabad talks on the 22nd, their UN representative revealed that they have received signals regarding the US's readiness to lift maritime sanctions. "Once they lift the sanctions, I believe the next round of talks will be held in Islamabad," he stated.

Trump’s Approval Ratings Decline

Recent polls show Trump's approval rating has dropped to 33%, a 5-point decrease since March. Rising military actions in Iran have increased living costs and fuel prices, contributing to a significant decline in support for his economic policies.

Market Reactions and Economic Concerns

Goldman Sachs warns that the systematic buying that has driven the US stock market rebound is nearing its end. Rising energy costs are eroding corporate profits and consumer purchasing power, leading to a shift in market sentiment from passive to active assessment of fundamentals.

AI-Driven Resource Crisis

Bank of America highlights that the expansion of AI data centers is triggering a crisis across electricity, water resources, and key metals. By 2030, data centers are expected to consume more electricity than Japan, with water usage comparable to New York City's total drinking water consumption.

Market Sentiment Turns Pessimistic

Howard Marks notes that the S&P 500's current P/E ratio of 22 is still high compared to historical averages, indicating a shift towards pessimism in market sentiment due to geopolitical tensions and AI developments.

Strong Earnings Boost US Stocks

Despite concerns, strong corporate earnings and a temporary extension of the ceasefire have led to gains in the US stock market, with the S&P 500 and Nasdaq reaching new highs. The Philadelphia Semiconductor Index has seen a 16-day winning streak.

Tesla's Q1 Performance

Tesla reported a significant increase in Q1 revenue, with a 16% year-over-year growth in both total revenue and automotive business income. However, after initially rising post-earnings, Tesla's stock fell over 2% due to concerns about increased capital expenditures.

ServiceNow's Mixed Earnings

ServiceNow's Q1 revenue met expectations but faced pressure from geopolitical tensions and doubts about AI's impact on enterprise software. The stock dropped over 13% after the earnings report.

SK Hynix Reports Record Profits

SK Hynix's Q1 net profit surged by 500% year-over-year, driven by soaring storage prices. The company reported record revenue and operating profit, confirming ongoing supply-demand tightness in the high-performance memory market.

TSMC's Caution on New Equipment

TSMC announced it will not deploy ASML's latest lithography equipment, citing high costs. This decision is expected to delay commercialization until at least 2029.

Upcoming Earnings Reports

Investors are awaiting earnings reports from major companies, including Freeport-McMoRan and Lockheed Martin on April 23, and Intel and SAP later in the week.