FactSet U.S. Daily Market Preview

US equity futures are modestly weaker, Asian markets are higher, while European equities are also advancing. Markets are being supported by improving risk sentiment tied to growing optimism around a potential US-Iran agreement, with reports pointing to a 60-day ceasefire extension, reopening of the Strait of Hormuz, and a framework to address key nuclear issues. The pullback in oil prices and easing in yields have helped drive a rebound in equities, particularly in the tech sector, alongside reduced expectations for further central bank tightening. While optimism has improved, sentiment remains cautious given the need for formal agreement sign-off and MoU could be signed over weekend in Europe with press sources saying two sides narrowed gaps.Companies mentioned: Alibaba Group, KKR & Co., Amazon

US equity futures are modestly higher, Asian markets are mostly lower but off their worst levels while European equities are firmer. Markets are trading more defensively amid persistent geopolitical uncertainty as US launched another wave strikes against Iran, targeting air defense systems, radars and drone command and control units. Crude gave back some of its earlier gains after CENTCOM declared mission complete. Trump had flagged an end to bombing after claiming Iran asked him to stop while warning strikes will restart unless Iran signs agreement. Additional headwinds include renewed tariff discussions, increased equity supply, and pockets of stress in private credit, while macro data continues to point to a resilient but cautious economic backdrop.Companies Mentioned: SpaceX, Microsoft, Anthropic, OpenAI

S&P futures are down (0.5%) as of now and indicating a lower open today. Asian markets closed mostly lower on Wednesday, weighed down by geopolitical concerns and semiconductor-driven selling pressures. Japan's Nikkei fell (1.9%), with SoftBank closed (8%) lower following stalled OpenAI-backed loan talks. Korea's Kospi closed sharply lower, nearly wiping out Tuesday's rally. Greater China markets recorded relatively milder losses. European markets are slightly higher in early trading.Companies Mentioned: OpenAI, Blackstone, Starbucks

S&P futures are pointing to a higher open today. Asian markets closed higher on Tuesday, buoyed by a recovery in tech stocks and optimism surrounding China's export growth. Japan's Nikkei surged near +2%, with strong gains across semiconductor and heavy industry names. Samsung Electronics and SK Hynix drove the Kospi to close +8% higher today. European markets opened mixed.Companies Mentioned: Nuvalent, Databricks, Boeing

US equities fell sharply on Friday, with the S&P 500 index breaking its streak of nine consecutive weekly gains. The Nasdaq experienced its worst week since Apr-24. Bonds fell. The US 10-year treasury yield increased by 2 bps to 4.5% after backing up sharply on Friday amid very strong US employment data. The US dollar remained steady against the Japanese yen but softened against the euro, British pound sterling, and Australian dollar. Oil prices rose, with WTI climbing more than 4% above $94/bbl. Gold prices declined. Industrial metals also fell. Bitcoin remained near its ytd low.Companied Mentioned: Incyte, Tate & Lyle, Spotify Technology

US equity futures are weaker, Asian markets are mostly lower while European equities are softer. Markets are tilting more defensively as technology sector weakness and geopolitical uncertainty weigh on sentiment. US-Iran developments remain fluid, with ongoing diplomatic efforts but no firm resolution, while ceasefire dynamics in the region remain fragile. Trade tensions are also resurfacing after US proposed new tariffs of at least 10% over forced labor, adding another layer of uncertainty. At the same time, easing oil prices and stable yields are offering some support, though concerns around stretched valuations in technology, continued crypto weakness, and cautious consumer trends are keeping risk appetite in check despite a broadly resilient macro backdrop.Companies mentioned: SpaceX, NVIDIA, OPENAI

US equity futures are weaker, Asian markets are broadly lower while European equities are modestly higher. Markets are trading more defensively amid persistent geopolitical uncertainty and recent volatility in rates and energy prices. US-Iran tensions remain a key overhang despite ongoing diplomatic efforts, with skepticism around the timeline for a formal agreement and reopening of the Strait of Hormuz. While a ceasefire between Israel and Lebanon has helped ease some pressure on oil prices, elevated yields following recent crude strength and continued weakness in technology stocks have weighed on broader sentiment. Additional headwinds include renewed tariff discussions, increased equity supply, and pockets of stress in private credit, while macro data continues to point to a resilient but cautious economic backdrop.Companies Mentioned: Alphabet, Meta Platforms, Adobe

S&P futures are indicating another flat open today. Asian markets were mixed Wednesday, though Japan led gains with the Nikkei up near +3%, driven by semiconductors and tech names.Taiwan also saw gains as chip stocks extended rallies. However, Hong Kong saw its tech names dropping following Tuesday's rebounds, and India and Indonesia saw sharp declines. European markets are lower in early trading. Companies Mentioned: Sherwin-Williams, SpaceX, DeepSeek

S&P futures are indicating a flat open today. Asian markets finished higher Tuesday, with Hong Kong and mainland China leading gains. The Hang Seng rallied +1.8%, driven by strength in tech and cloud platform names. South Korea and Taiwan clawed back early losses, while Japan's Nikkei closed +0.5% higher. European markets are also higher in early trading. Companies Mentioned: NVIDIA, Marvell, Samsung Electronics, Hallador Energy, Salesforce, Amazon

US equity futures higher with S&P up 0.2%. Bond yields higher. US 10-year up 2 bps at 4.5%. Gilts up 2 bps at 4.8%. Bund 4 bps higher at 3%. Dollar firmer versus yen and euro, softer against sterling and Aussie. Oil up with WTI crude 3.8% higher near $90.50/bbl. Gold down. Industrial metals higher. Bitcoin lower. US-Iran ceasefire negotiations continue with press reports noting President Trump sent revised terms back to Tehran, seeking firmer commitments on nuclear concessions and reiterating demands for unrestricted Strait of Hormuz shipping. Release of frozen Iranian funds has been a point of debate. Despite ongoing talks, US carried out military strikes in Iran on the weekend and Kuwait reports missile and drone attacks. Companies Mentioned: Taylor Morrison Home, YUM! Brands, Four Corners Property Trust

US equity futures are modestly higher, Asian markets are mostly higher, while European equities are also firmer. Equities are being supported by improving sentiment around US-Iran developments, with reports of a potential 60-day ceasefire framework helping to ease concerns around energy supply disruptions and inflation pressures. While negotiations remain ongoing and key issues such as uranium stockpiles are unresolved, the market is increasingly pricing in a de-escalation scenario. This has contributed to softer oil prices, more stable rate expectations, and continued strength in AI and technology-led segments, even as investors remain mindful of lingering geopolitical uncertainty and macro risks.Companies mentioned: SpaceX, Uber Technologies, Autodesk

S&P futures are pointing to a slightly lower open. Asian markets were mostly lower on Thursday, but most benchmarks closed well off their day's lows. The Nikkei, Kospi and Taiex were all under pressure from weakness in semis and memory. Mainland China advanced modestly. European stocks also opened lower. Companies Mentioned: Perella Weinberg Partners, Dell, Eli Lily

S&P futures are up +0.2% and pointing to another higher open, following yesterday's record closes in the S&P and Nasdaq. Asian markets were mixed Wednesday. Tech gains led Korea, Japan, and Taiwan higher, while broader indices were weaker. Hong Kong and Mainland China were the notable underperformers, driven by continuing broker crackdowns. European stocks are higher following a weak session on Tuesday. Companies Mentioned: IREN, Warner Bros. Discovery, Lululemon

US equity futures are modestly higher, Asian markets are mixed, while European equities are softer. US-Iran headlines remain a key focus, with negotiations ongoing and signals pointing toward a potential agreement, though key sticking points persist around uranium enrichment, control of the Strait of Hormuz, and the release of frozen assets, while intermittent military actions continue to add volatility. Rate dynamics remain another overhang, with concerns around a higher-for-longer environment amid elevated inflation expectations, even as expectations for a diplomatic resolution continue to underpin broader sentiment.Companies Mentioned: Spotify, Delivery Hero, Google

US equity futures are modestly higher, Asian markets are broadly higher, while European equities are also firmer. Equities were supported by renewed optimism around a potential US-Iran ceasefire. Momentum and AI-linked names resumed leadership following recent underperformance, while improved sentiment also contributed to a pullback in oil prices and some easing in rate hike expectations. However, investors remain cautious given persistent uncertainty around the durability of any geopolitical resolution, alongside mixed signals from earnings and continued concerns around inflation pressures reflected in elevated input and selling prices. Investors also cautious heading into a long weekend with reduced risk appetite.Companies mentioned: Lam Research, Kawasaki Heavy Industries, Nvidia , Imax

US equity futures are little changed, Asian markets are mostly higher, while European equities are slightly lower. Equities were supported by easing yield pressures and renewed strength in AI and momentum-driven trades. Sentiment also improved on expectations for progress in US-Iran negotiations, which contributed to a sharp pullback in oil prices and helped stabilize inflation concerns. Earnings continued to reinforce a resilient macro backdrop, while policy expectations shifted modestly, with markets dialing back rate hike risks and maintaining expectations for limited easing later in the year, with market now pricing ~14 bp of cuts through year-end.Companied mentioned: NextEra Energy, Vale, AvalonBay Communities, Equity Residential

S&P futures are up +0.2% as of now, pointing to a higher open. Asian markets traded sharply lower across most regions on Wednesday. Japan's Nikkei dropped (1.2%), weighed by profit-taking in semiconductors. South Korea's Kospi saw continued declines, pressured by Samsung Electronics' union strike concerns. European stocks are lower following a mostly firmer session on Tuesday. Companies Mentioned: Samsung Electronics, SpaceX

S&P futures are pointing to a flat open. Asian equities traded mixed on Tuesday. Taiwan and South Korea underperformed sharply amid profit-taking in chip-related stocks. Japan was also weighed down by losses in semiconductors. Greater China markets closed higher as property and industrial stocks rebounded. European markets are firmly higher in early trade. Gains follow broad strength on Monday, with energy and financials leading.Companies Mentioned: Intel, Analog Devices

US equity futures are weaker with S&P down 0.3%. Bonds mixed after finding support after earlier weakness; US 10-year steady at 4.6%. Bund flat. Gilts firmer. Dollar is mostly firmer. Crude firmer amid hawkish Middle East headlines. Gold and silver weaker. Bitcoin down to early May low. Equity market sentiment tends negative amid hawkish US-Iran developments, which underpins oil prices and weighs on bonds. Inflation concerns reinforce hawkish central bank pricing. US Treasury 30Y yield climbing further above 5% to a 20-year high. Companies mentioned: Dominion Energy, NextEra Energy, National Healthcare Properties

US equity futures are modestly lower, Asian markets are broadly weaker, led by sharp declines in South Korea, while European equities are also lower. Markets were supported by continued AI-driven momentum, with strength in semis, networking, and select tech names offsetting mixed performance across big tech and weakness in memory stocks. Broader sentiment remained constructive with major indices extending to fresh highs, though underlying concerns persist around narrow market breadth and elevated positioning. Rates remain a key overhang after this week's hotter inflation signals, while limited incremental progress from US-China discussions and ongoing geopolitical uncertainty continue to cap upside. Companies mentioned: Anthropic, OpenAI, Papa John's International

US equity futures are modestly higher, Asian markets are mixed, while European equities are broadly higher. Markets were supported by continued strength in technology, particularly semis and mega-cap names, with AI-driven capex demand remaining the dominant theme. Broader sentiment was also helped by expectations for an extension of the US-China trade truce with Chinese purchases of agricultural, energy products and aircraft on the cards following constructive early signals from the Trump-Xi summit. However, underlying breadth remained weaker, and inflation pressures stayed in focus after a stronger-than-expected PPI print, reinforcing expectations that policy will remain restrictive for longer despite resilience in growth and relatively stable bond market conditions.Companied mentioned: Microsoft, Nvidia, eBay, GameStop

S&P futures are up +0.3% as of now, pointing to a higher open. Asian equities traded mixed on Wednesday. Japan outperformed, supported by gains in industrials and autos. South Korea's Kospi rebounded sharply, up over +2%, while Taiwan's Taiex saw significant losses on profit-taking in the semiconductor sector. Hong Kong dipped slightly as Chinese tech giants lagged amid ongoing doubts over AI investments. European markets are modestly firmer today after a weaker Tuesday session. Companies Mentioned: Anthropic, Samsung

S&P futures are down (0.3%) as of now, pointing to a slightly lower open. Asian equities were mixed on Tuesday. Japan edged higher, supported by strength in industrials and autos. Hong Kong closed with minor gains, Mainland China was lower, and South Korea underperformed with Samsung Electronics notably lower.Companies Mentioned: Microsoft, OpenAI, UnitedHealth, Wendy's, Beazer Homes

US equity futures are weaker with S&P down. Bonds weaker with US 10-year yield up 2 bps at 4.39%. Gilts 4 bps higher. Bund 1 bp firmer at 3.02%. Dollar firmer versus yen, softer elsewhere. Oil gains on latest setback in US-Iran negotiations with WTI crude up 3.3% near $98.50/bbl. Gold down. Industrial metals firmer. Bitcoin slightly higher. US-Iran talks hit another roadblock after President Trump rejected Iran's latest proposal, which appeared to fall far short of US demands. According to Iranian and other media sources, proposal calls for immediate end to US naval blockade. Two sides would establish 30-day negotiation period with Iran demanding release of frozen assets, end to sanctions on Iranian oil sales, definitive end to war on all fronts including Lebanon, and guarantees against future military action.Companies mentioned: MidCap Financial Investment, Nintendo

US equity futures are pointing to a higher open today, following a lower close on Thursday. Asian equity markets ended broadly lower. European markets have opened lower as well. Market sentiment has been hit by another exchange of fire between the US and Iran in the Strait of Hormuz, but volatility has ebbed. Markets are pricing in the agreement that ends hostilities, though the road is expected to remain bumpy.Companies mentioned: IREN, Nvidia, Marsh, Anthropic

US equities are higher in prior session, with S&P 500 and Nasdaq posting fresh record closes. Bonds add to recent gains. US ten-year yields down to 4.3%. Bund down at 3%. Gilts off with ten-year at 4.9%. WTI crude extending recent fall to $94/bbl region. Gold is up. Industrial metals mixed. Bitcoin is lower. Markets welcomed signs of fresh momentum in US-Iran peace talks amid reports two sides nearing agreement on 14-point MoU to end war and set in motion 30-day negotiation period to discuss opening Strait of Hormuz, limit Iran's nuclear program and lift US sanctions. Companied mentioned: Macerich, Catalyst Pharmaceuticals, Chiron Real Estate

US equity futures are pointing to a higher open today. European equity markets have opened higher, and Asian equity markets ended higher across the region. Focus is on Trump's pause of Project Freedom amid progress towards a comprehensive agreement with Iran. This is weighing on crude after futures spiked on Monday. The offensive phase of the war is believed to be over with focus now on reopening the Strait. But the status quo remains intact for now.Companies mentioned: Lumen Technologies, Alphabet, Meta Platforms, Alibaba Group

US equity futures are firmer with S&P up. Bonds mostly firmer. US 10-year steady at 4%. Bund down 2 bps. In contrast, Gilt yields 8bps higher. Dollar is mostly higher, with biggest move versus Aussie. Crude is pulling back after rallying on Monday on hawkish Middle East developments. Gold is firmer. Industrial metals are higher. Bitcoin is firmer. Focus remains on developments in Middle East. Downbeat risk sentiment amid flare-up in Middle East tensions after US and Iran traded fire in Strait of Hormuz as US-launched "Project Freedom" to aid shipping through the waterway. UAE's Fujairah port and oil tankers were also hit, contributing to surge in crude oil. Developments underlined fragility of ceasefire with two sides still no closer to an agreement to end hostilities. Companies Mentioned: Lattice Semiconductor, National Health Investors, Fidelity National Information Services

US equity futures are slightly higher with S&P up. Comes after S&P and Nasdaq both recorded fifth straight weekly gains, ending at fresh closing highs on Friday. Bonds mixed. US10Y is little changed while bund up 2 bps to 3%. Crude is lower with WTI near $100/bbl and Brent near $107. Gold and silver are weakening. Bitcoin is gaining near one-week high. Peak week of Q1 earnings season put the focus on a very favorable corporate profit backdrop. Massive AI compute and related infrastructure demand dominated the narrative after providing a big tailwind for the market in recent weeks with growth and momentum factors meaningful outperformers. Also we see some renewed focus on the US-Iran stalemate, with reports that Tehran has forwarded a new peace proposal, which helped ease another big week of crude gains though Trump said he's "not satisfied".Companies mentioned: AMAT, EBAY, TTAM

US equity futures are modestly higher, Asian markets are broadly higher while European markets are mostly closed for holidays with UK equities slightly weaker. Equities were supported by strong earnings momentum, with Q1 results continuing to exceed expectations and reinforcing key themes around robust AI-driven compute demand and elevated capex. While big tech earnings were mixed, overall takeaways remained constructive, and additional support came from a pullback in oil prices and yields.Companies mentioned: OpenAI, Nexstar Media Group, Two Harbors Investment

US equity futures are modestly lower, Asian markets are mixed with weakness in Japan and Hong Kong, while European equities are also lower. Risk sentiment is under pressure amid renewed escalation in US-Iran tensions, with limited progress in negotiations and reports of potential military actions keeping markets on edge. Trump unsurprisingly rejected Tehran's latest offer, and reports US preparing a short but powerful series of strikes to break the deadlock. The surge in oil prices is driving higher yields and reinforcing inflation concerns, complicating the outlook for central bank policy. Investors are also focused on upcoming ECB and Bank of England decisions, with expectations for rates to remain unchanged but attention on signals around potential tightening as policymakers assess the impact of elevated energy prices.Companies mentioned: KKR & Co., Anthropic, NVIDIA

S&P futures are flat ahead of the Fed's rate decision and Mag 7 earnings later today. Asian equities were mostly higher on Wednesday. The Hang Seng led gains, closing up +1.7%, as property and materials stocks rallied. Mainland China benchmarks followed suit. Japan was closed for a public holiday, while South Korea extended its rally. European markets are trading lower, adding to recent declines. Companies Mentioned: Disney, OpenAI, Anthropic

S&P futures are down (0.2%) as of now, pointing to a slightly lower open. Asian equities traded mostly lower on Tuesday, with Japan's Nikkei closed (1%) lower following the BoJ rate decision. Greater China markets were also lower, while South Korea and Taiwan benchmarks extended record gains, supported by semiconductors and AI demand. European markets are firmer in early trading.Companies Mentioned: Meta Platforms, Dynatrace

US equity futures are softer with S&P down. Bonds weakening with Treasury yields up 1-2 bps. Bund firmer. Gilt yields up. Dollar softer. Crude firmer with WTI up. Gold moving off overnight lows. Industrial metals mixed. Bitcoin higher. US-Iran negotiations are in state of flux after president Trump cancelled planned visit by Witfkoff and Kushner to Pakistan to meet with Iranian delegation. After cancellation Trump said Iran improved its offer but still not good enough. Positive spin to Axios report that Iran offered US new proposal that reopens Strait of Hormuz and ends US-blockade while leaving nuclear issue for later talks. Trump to hold situation room meeting this Monday to discuss Iran. It's still unclear whether Iran's proposal will lead to breakthrough.Companies Mentioned: Organon & Co., Sun Pharma, European Lithium, Critical Metals

US equity futures are slightly higher, Asian markets are mixed, while European equities are lower. Risk sentiment remains cautious amid ongoing volatility around US-Iran developments, with uncertainty over negotiations and continued tensions in the Strait of Hormuz supporting oil prices and weighing on equities. Despite the geopolitical backdrop, markets are also digesting mixed signals from earnings and positioning after the recent rally, alongside evidence of a still-resilient macro environment highlighted by stronger PMI data, even as concerns persist around market breadth and potential near-term volatility.Companies mentioned: Nike, Spirit Airlines, Organon & Co., Sun Pharmaceutical Industries

US equity futures are under pressure, Asian markets are mostly lower, and European equities are also weaker. Risk sentiment is weighed down by escalating tensions around the Strait of Hormuz, with disruptions to shipping activity and ongoing uncertainty around diplomatic progress. Reports of seizures and military activity in the region have pushed oil prices higher and raised concerns about prolonged supply disruptions. Markets are also focused on potential economic implications, with expectations for softer European activity data and rising cost pressures globally, while uncertainty around the duration of the disruption continues to cloud the outlook.Companies mentioned: lululemon athletica, Forvia, Apollo Global Management, American Airlines Group, Alaska Air

S&P futures are up +0.6% as market sentiment improves on the indefinite extension of the ceasefire. Asian equities ended mixed on Wednesday. Gains were seen in Japan, South Korea, and Taiwan as AI-related optimism continued to fuel tech sector rallies. Hong Kong, Australia, and Southeast Asia underperformed. European markets are broadly trading higher in early session. Companies Mentioned: Boeing, SpaceX, Cboe Global Markets

S&P futures are pointing to a slightly higher open. Asian equities were mostly higher today with Japan's Nikkei climbing another 1%. South Korea's Kospi and Taiwan's Taiex reached fresh record highs, buoyed by tech sector strength. European markets also opened mostly firmer, though the French CAC is lagging a bit. Companies Mentioned: TSMC, Samsung Electronics, SK Hynix

US equity futures are lower with S&P down. Bonds mixed. US 10-year yield 2 bps higher at 4.3%. Asian benchmark yields lower. Dollar firmer versus yen and Swiss franc, softer elsewhere. Oil is sharply higher following big selloff on Friday. WTI crude is up 6%. Gold down. Industrial metals mixed. Bitcoin lower. European equity markets are lower. Asian equity markets are higher, with tech-heavy benchmarks being the best performers. Latest Iran headlines raising uncertainty about prospects of second round of talks. Trump sending US delegation to Pakistan this week though there's no confirmation from Iran whether they are sending delegation. Lots of talk about wide divide on core issues of nuclear. Companies Mentioned: Eli Lilly, Spirit Aviation Holdings, Marvell Technology, Google

US equity futures are mixed. Asian markets are mostly lower, while European equities are trading mostly firmer. Markets remain focused on developments around the Iran conflict, with sentiment supported by optimism around a potential agreement, including progress on nuclear terms and reopening of the Strait of Hormuz. However, uncertainty persists around the timing and durability of a ceasefire, with expectations that negotiations could take several months. Central bank expectations remain stable, with markets anticipating a limited number of rate moves in Europe, while broader sentiment continues to be underpinned by a solid macro backdrop and resilience in recent US data.Companies mentioned: Apollo, Ares, Blackstone, OpenAI, Cerebras, Delivery Hero, Uber

US equity futures are modestly higher. Asian markets are mostly higher with strength in tech-led benchmarks, and European equities are also firmer. Risk sentiment is supported by continued de-escalation signals in the Iran conflict, with reports that the US and Iran have agreed in principle to extend the ceasefire to allow more time for diplomacy. Expectations for further talks are building, as second round of talks expected soon, likely in Pakistan again. Trump continues to voice confidence about deal, though press also noted US sending over thousands of additional troops to region in bid to pressure Iran into agreement. Meanwhile policy signals remain cautious, with central bank commentary in Europe pointing to a steady stance.Companies mentioned: ESCO Technologies, Ford Motor, Johnson Controls International

S&P futures are pointing to a flat open today following sharp gains on Tuesday. Asian markets ended today's trading mostly higher, led by South Korea and Taiwan as technology names continued to rally. Taiwan's Taiex hit a fresh record high for the second consecutive session while Greater China saw muted performance.Companies Mentioned: Anthropic, Uber

S&P futures are up +0.2% today following reports of a second round of peace talks in Islamabad later this week. Asian markets closed broadly firmer today with Japan's Nikkei up over +2% and South Korea's Kospi up over +3%. Biggest gains were seen in memory-chip stocks like Samsung, SK Hynix, and Kioxia. Hong Kong and Mainland China also recorded modest gains. Taiwan's benchmark hit a fresh all-time high, led by TSMC ahead of its earnings release. European markets are also firmer across the board in early trading, with German DAX the outperformer. Companies Mentioned: United Airlines, American Airlines, NVIDIA, Amazon, Globalstar

US equity futures lower with S&P down. Bonds mixed. US 10-year yield +1 bps to 4.3%. Bund and benchmark Gilt little changed. Dollar is firmer against yen, softer elsewhere. Oil is up with WTI crude 7% higher. Gold lower. Industrial metals mostly higher. Bitcoin lower. European equity markets are broadly lower with Middle East developments weighing on risk appetite. Asia markets fell but many finished off their troughs. In a Truth Social post, President Trump said navy will begin blockade of Strait of Hormuz. US CENTCOM said blockade will begin 13-Apr 10 am eastern time and apply to vessels of all nations entering or departing Iranian ports. Ships transiting to and from non-Iranian ports will be permitted. Companies Mentioned: Cisco Systems, PolyPeptide Group, Baker Hughes, Hexagon

US equity futures are modestly lower. Asian markets ended mostly higher with strength in tech-led benchmarks, and European equities are also firmer. Markets are trading cautiously with focus on the Middle East, as concerns over the durability of the ceasefire persist despite ongoing diplomatic efforts. Developments around potential talks and continued military activity are keeping sentiment in check, while uncertainty around the Strait of Hormuz and oil flows remains a key overhang. At the same time, geopolitical tensions are intersecting with policy and economic considerations, including discussions around energy supply in Europe and broader global trade and security dynamics.Companies mentioned: Alibaba, Anthropic, Abbott Labs

US equity futures are modestly lower. Asian markets are mostly lower and European equities are also weaker. Risk appetite is softer as geopolitical tensions in the Middle East continue to weigh on sentiment despite the recent US-Iran ceasefire. Ongoing military activity and conflicting details around the agreement are raising doubts about its durability, with developments including Israeli strikes in Lebanon and renewed threats around the Strait of Hormuz. Markets are also navigating shifting central bank expectations, with reduced pricing for US rate cuts and expectations for tightening in Europe, while elevated oil prices and constrained shipping activity are seen as potential headwinds to a full recovery in risk assets.Companies mentioned: Nebius Group, Anthropic

S&P futures have advanced +2.5% following the ceasefire agreement. Asian markets closed higher across the board with notable gains in tech stocks. Japan's Nikkei surged +5.5%, Korea's Kospi rallied +7%, and Greater China markets also saw sizable gains. European markets are sharply higher as early trades see the STOXX 600 up +3.5%, German DAX up +4.5%, and French CAC up +4%.Companies Mentioned: Ford, BlackRock

US equity futures are modestly lower. Asian markets ended mostly higher and European equities are broadly higher after long Easter weekend. Markets remain focused on Middle East developments, with attention on potential US-Israeli strikes targeting Iran's infrastructure ahead of a key US deadline. Iran continues to reject a temporary ceasefire proposal, pushing instead for a permanent resolution before reopening the Strait of Hormuz. The evolving situation is driving intraday volatility across equities and oil, while recent US data has provided some underlying support to risk sentiment.Companies Mentioned: Apple, SpaceX, OpenAI, Anthropic, Google

US equity futures lower with S&P down. Bonds are firmer, with treasury yields backing up. US 10-year adds 3 bps to 4.4%. Similar move seen in Gilts. Bund higher at 3%. Dollar rallies. Oil sharply higher. WTI crude above $106/bbl and Brent near $108. Gold lower. Industrial metals lower. Bitcoin falls. European equity markets are lower, Asian equity markets under pressure, with deep losses for Kospi. Nikkei is more than 2% lower. Hang Seng also weaker. Sentiment deteriorated after Trump's address on Iran. While he touted military accomplishments and reiterated aim of ending strikes in 2-3 weeks, he also hinted at escalation and there was a lack of emphasis on negotiations for a clear pathway to end conflict. He reiterated threat to destroy energy plants if no deal reached. Note that earlier reports mentioned ceasefire offer conditional on reopening Strait of Hormuz, but NY Times intel sources said Iran sees no reason for serious talks amid belief it has leverage.Companies mentioned: Kakao Mobility, Uber, Amazon, Globalstar, Estee Lauder, Puig

S&P futures are up +0.5% following sharp rebounds on Tuesday. Asian markets surged on easing geopolitical tensions around the Iran conflict today. Japan's Nikkei and Topix both closed near +5% higher, and South Korea's Kospi surged +8%, temporarily triggering a futures trading halt due to extreme gains in chip stocks. Gains were more modest in China. European equities are also sharply higher with major benchmarks up +1-2%.Companies Mentioned: OpenAI, Google, Microsoft

S&P futures are up +1% and pointing to a higher open today. Asian equities mostly traded lower today. Japan's Nikkei fell (0.9%), with losses tied to auto and technology stocks. The Kospi and Taiex dropped the most, as chip-related names sold off. Greater China markets saw marginal losses. Early European trading is mostly positive. Companies Mentioned: Gilead Sciences, McCormick