Market Highlights

Investors riding a scorching run of market momentum are likely to face a reality check when trading resumes in Asia after President Donald Trump rejected the latest peace offering. Trump labeled Iran’s latest response to his proposal to end the 10-week conflict with the US is “TOTALLY UNACCEPTABLE.” Iran offered to transfer some of its stockpile of highly enriched uranium to a third country in its response to the latest US proposal to end 10 weeks of war, but rejected the idea of dismantling its nuclear facilities, the Wall Street Journal reported. Iran disputed the report, according to Iran’s semi-official news agency Tasnim Oil prices jumped and Treasuries fell after US President Donald Trump and Iran rejected each other’s latest proposals to end the war in the Middle East. Asian stocks climbed as traders doubled down on the AI trade.

A rally that drove stocks to record highs faltered and oil whipsawed as doubts resurfaced about an imminent US-Iran deal that would revive energy flowsthrough the key Strait of Hormuz. Following the biggest gain in a month, the S&P 500 fell. In a volatile session, US crude settled near $95 a barrel after a slide that had earlier driven it below $90. The Trump administration is looking to restart the initiative to guide stranded ships though the vital energy waterway it had paused earlier this week, the Wall Street Journal reported. Stocks pulled back on the finaltrading day of the week and crude oil rose as escalating Middle East tensions revived concerns over energy supplies, testing the durability of a record- breaking rally

Stocks climbed around the world, joining gains in bonds as oil retreated on hopes the US and Iran are nearing a deal to end a war that has jolted markets and clouded the economic outlook . Stronger risk appetite drove equities to record highs, lifting the S&P 500 by 1.5%. Solid corporate earnings also buoyed sentiment, with Advanced Micro Devices Inc . leading a rally in chipmakers . US crude settled around $95 , easing inflation concerns . Gold jumped . Treasury yields slipped as bets on Federal Reserve rate hikes receded . The dollar fell to pre - war levels .

Relative calm returned to global markets, with stocks rising and oil falling as signs that aUS Iran ceasefire is still in place reduced fears about a full-scale war that could hamper the economic outlook . The bounce in equities drove the S&P 500 to all-time highs asWashington played down the prospect of an active conflict with Tehran a day after an escalation of hostilities over the Strait of Hormuz .While crude prices remained elevated amid a blockade of the key energy chokepoint, Brent settled below $110. In late hours ,Advanced Micro Devices Inc .gave a solid outlook .

A rally inoil drove both stocks and bonds lower on concerns that an escalation of hostilities over the Strait of Hormuz will keep energy costs elevated, fueling global inflation risks . Equities dropped from all-time highs as Brent crude jumped about 6%, topping $114. The US and Iranexchanged fire in the Persian Gulf amid a flare-up of violence that also drew in the United Arab Emirates .With oil prices not far from a four-year peak, the decline in Treasuries sent 30-year yields above 5%.

Stocks rallied, with Asian shares climbing toward all-time highs, on optimism around the artificial intelligence trade and stronger-than-expected earnings from megacap tech companies .The yen briefly spiked higher. Futures for the S&P 500 and the Nasdaq 100also gained after theWall Street gauges closed at new highs on Friday on earnings from major tech companies including Apple Inc . European shares were also primed for gains at the open .

Equities hit fresh highs, with the S&P 500 extending its April surge to 10%as data showed US growth accelerated amid anAI-driven upswing inbusiness investment .Agauge of small firms, whose fortunes are tied todomestic activity, added 2.2%.Adrop inoil helped sentiment, lifting bonds . The yen climbed on reports of Japan intervention . In late hours, Apple Inc . reported revenue that topped estimates, helped by demand for the iPhone and Mac .Oil surged to the highest level in almost four years amid growing pessimism about efforts to end the Middle East con flict. Stocks swung to losses after earlier getting a boost from megacap tech earnings.

Wall Street traders drove bonds lower and stocks wavered as a divided Federal Reserve held rates steady and signaled the war in Iran is clouding the economic outlook. Brent crude hit the highest since 2022. With no end in sight to the Middle East conflict, money markets all but abandoned wagers on a rate cut this year and began pricing in the chances of a hike in 2027. Treasury 10-year yields hit a one-month high. Most shares in the S&P 500 fell. In late hours, Meta Platforms Inc. slid after boosting its spending outlook. Microsoft Corp.’s cloud growth failed to ease investors’ artificial-intelligence concerns. Alphabet Inc. climbed on solid sales. Oil surged to the highest level in almost four years amid growing pessimism about efforts to end the Middle East conflict. Stocks swung to losses after earlier getting a boost from megacap tech earnings.

A selloff in technology giants dragged down stocks as concerns resurfaced over whether vast investments in artificial intelligence will pay off just as traders gear up for a slew of megacap results. The industry that has powered this month’s equity rally got hit on a news report that OpenAI failed to meet its own goals for new user acquisition and sales, fueling worries the firmmay struggle to support its AI infrastructure spending. Partners such as Oracle Corp. and CoreWeave Inc. slumped, with the S&P 500 dropping from a record. The Nasdaq 100 lost 1%. US equity-index futures rose as investors positioned ahead of a raft of earnings from the largest technology companies in what has been a generally upbeat reporting season. Markets are also awaiting a Federal Reserve policy decision.

April’s rally in risk assets has weathered stalled peace talks, signs of resurgent inflation and a central-bank succession drama. Investors may be about to findout if the speed of the advance itself poses a threat to a further ascent. Global equities enter the week at or near records, with the S&P 500 up almost 10% since the end of March, putting it on pace for the best monthly advance since late 2020. Treasury yields fell Friday as the closing of a Justice Department probe of Fed Chief Jerome Powell cleared a path to Kevin Warsh’s confirmation, boosting bets that the central bank could resume cutting interest rates before the year is out. Technology stocks led equity markets lower as concerns over whether the vast amount of investment in artificial intelligence will pay off resurfaced. Brent rose above $110 a barrel as the Strait of Hormuz stayed shut.