Major Averages Surge on U.S.-Iran Ceasefire Announcement
The major averages closed sharply higher in a relief rally after the announcement of a two-week ceasefire between the U.S. and Iran before a key escalation deadline. Crude oil fell over 15% to roughly $95 per barrel, effectively reversing the inflation shock that had been tightening financial conditions throughout March and early April.However, the Strait of Hormuz is only partially reopening and structural supply disruptions haven't fully cleared. Additionally, the speaker of the Parliament of Iran, Mohammad Bagher Ghalibaf, said this afternoon that the country's ceasefire with the U.S. has already been violated, according to Bloomberg. Ghalibaf said three clauses of the ceasefire had been violated so far.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Deltareported, with the company noting that it expects Q2 non-fuel unit costs growth similar to Q1Levi Straussprovided areport for Q1Bed Bath & Beyondsubstantially all assets of F9 Brands for $150MShellprovided, citing uncertainty around the "ongoing situation" in the Middle EastIn minutes for the latest FOMC meeting, the Federal Reserve stated that theof the FOMC thinks inflation progress may be slower, with some Fed members seeing the possibility of a rate hike2. WALL STREET CALLS:Coinbaseto Underweight at BarclaysFreshpetto Buy at TD CowenT-Mobileto Buy at MoffettNathansonGeneral Dynamicsto Hold at Deutsche BankSeaport says Broadcom"still in the pack,"to Neutral3. AROUND THE WEB:AbbVieis suing the White House over its discount drug program, Axios reportsA pro-Iranian cybercrime outfit has claimed responsibility for hacks of Chimeand Pinterestthat forced the websites of both companies offline, Bloomberg saysThe Trump administration has rejected requests from Ford Motorand other U.S. automakers for relief from the tariffs on aluminum after two fires at the Novelis aluminum plant in Oswego, New York took the facility out of commission until at least this June, WSJ reportsGreece will prohibit access to social media for children under the age of 15 starting January 1, 2027 due to rising anxiety, sleep issues and the addictive design of the sites, Reuters saysTikTok, whose U.S. business counts Oracleas an investor, intends to invest $1.16B to build a second data center in Finland as it moves data storage for European users to the continent, Reuters reports4. MOVERS:Applied Materialswas higher afterRichtech Roboticsincreased after announcing awith NewConsultancyMeta Platformsgained after launching itsSM Energylower after Roth Capitalthe stock to NeutralExxon Mobilfalls after announcing it sees 6% of upstream production5. EARNINGS/GUIDANCE:Sealsqprovidedand backed its guidance for FY26RPM, with EPS and revenue beating consensusKura Sushiand raised its guidance for FY26Nurix Therapeutics, with EPS missing consensusAehr Test Systemsand backed its guidance for the second half of the yearINDEXES:The Dow rose 1,325.46, or 2.85%, to 47,909.92, the Nasdaq gained 617.15, or 2.8%, to 22,635, and the S&P 500 advanced 165.96, or 2.51%, to 6,782.81.
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- Market Highs: The S&P 500 rose by 0.87% and the Nasdaq 100 reached an all-time high, reflecting growing investor optimism regarding a potential US-Iran peace deal, which may enhance risk appetite and further boost stock market momentum.
- Oil Price Plunge: WTI crude prices fell over 10% after Iran announced the Strait of Hormuz is now fully open for commercial shipping, easing inflation concerns and contributing to a 6 basis point drop in the 10-year Treasury yield, which invigorates the bond market.
- Earnings Optimism: Q1 earnings for the S&P 500 are projected to increase by 12% year-over-year, although excluding the tech sector, growth is only expected at 3%, yet this overall positive outlook may attract more investor interest and bolster market confidence.
- Airline Stocks Surge: With reduced fuel costs, United Airlines (UAL) shares surged over 10%, while other airlines like Royal Caribbean (RCL) and Alaska Air (ALK) also saw significant gains, indicating strong market confidence in the recovery of the airline industry.
- Historic Ceasefire Agreement: Israel and Lebanon have reached a 10-day ceasefire agreement in Washington, marking the first meaningful talks between the two nations since 1983, potentially paving the way for a broader peace agreement in the Middle East.
- Positive Market Reaction: Israel's central bank governor noted that markets are responding positively to the latest peace developments, with major markets holding near record highs, reflecting investor optimism for stability in the region despite ongoing geopolitical uncertainties.
- U.S. Diplomatic Efforts: President Trump plans to invite Israeli Prime Minister Netanyahu and Lebanese President Aoun for talks, further advancing the improvement of relations between the two countries and highlighting the U.S.'s active role in the Middle East peace process.
- Impact of Iranian Situation: Trump mentioned that the war in Iran is progressing well and is expected to end soon, a statement that could influence regional security dynamics and market reactions, prompting investors to monitor future military and diplomatic developments.
- Nasdaq Performance: The Nasdaq index has surged 15% over the past 12 trading days, marking the longest winning streak since 2009, indicating a strong market recovery and renewed investor confidence.
- Major Index Rebounds: During the same period, the Dow Jones Industrial Average rose 7.5% and the S&P 500 increased by 12.5%, with both tech and communication services sectors up 13%, reflecting a preference for technology stocks in the market.
- Regional Bank Dynamics: Fifth Third Bancorp has risen 0.7% over the last three months but remains 11% below its 52-week high; Regions Financial is up 0.5%, also 11% below its 52-week peak, highlighting pressures faced by regional banks.
- Netflix Earnings Reaction: Despite Netflix exceeding expectations in its quarterly report and seeing a 15% year-to-date increase, its stock fell 9% in after-hours trading due to investor dissatisfaction with future guidance, reflecting caution regarding future growth.
- Market Recovery: On Thursday, the S&P 500 rose by 0.26% and the Nasdaq 100 by 0.49%, reaching new highs, indicating a strong rebound after early losses and reflecting investor confidence in economic recovery.
- Chip Sector Boost: Taiwan Semiconductor Manufacturing Co raised its 2026 revenue forecast, highlighting strong AI demand, which propelled chipmakers' stock prices, particularly benefiting major suppliers to Nvidia and Apple, further enhancing market optimism.
- Oil Price Impact: Despite the stock market gains, crude oil prices surged over 3%, raising concerns about the Middle East situation and limiting the market's upward momentum, illustrating the potential impact of energy prices on the overall economy.
- Mixed Economic Data: Initial jobless claims fell to 207,000, exceeding expectations and indicating labor market strength, but unexpected declines in manufacturing production reflect economic uncertainty, which could influence future monetary policy.
- Chipmaker Rebound: Taiwan Semiconductor Manufacturing Co raised its 2026 revenue forecast, reflecting strong AI demand, which led to a rebound in chipmakers, with ON Semiconductor up over 10% and AMD up over 5%, indicating renewed market confidence in tech stocks.
- Mixed Economic Data: Initial jobless claims fell to 207,000, below the expected 213,000, suggesting a strong labor market; however, manufacturing production unexpectedly declined by 0.1%, highlighting the unevenness of economic recovery, which could influence future policy decisions.
- Oil Price Surge Impact: WTI crude oil prices rose over 2% due to escalating tensions between Iran and the US, potentially exacerbating global oil and fuel shortages, which negatively affects airline and cruise line profitability, leading to declines in related stocks.
- Earnings Season Begins: Q1 earnings for the S&P 500 are projected to rise by 12% year-over-year, but excluding the tech sector, growth is only expected at 3%, raising concerns about the profitability of non-tech stocks and potentially impacting investor confidence.
- Fuel Cost and Pricing: Congressman Ritchie Torres highlighted the need for airline ticket prices to be closely tied to global fuel costs, urging airlines to lower fares when fuel prices decline to ensure economic fairness for consumers.
- Call for Public Commitment: In a letter to the CEOs of Delta, United, Southwest, and JetBlue, Torres emphasized that the American public deserves fair pricing in air travel and called for airlines to publicly commit to lowering fares when fuel costs decrease.
- Airlines' Responses: While JetBlue, Southwest, and Delta have not commented on Torres' remarks, United Airlines declined to respond, indicating a cautious approach to fare adjustments that may affect public trust in their pricing strategies.
- Market Fairness Concerns: Torres stressed that airline pricing models should reflect not only market conditions but also economic justice, highlighting consumer concerns and expectations regarding air travel costs, which could drive competitive pricing within the industry.











