The Dow settled firmly lower on Tuesday despite an upbeat batch of earnings reports, with investors concerned a peace deal between the U.S. and Iran will not come to fruition before the ceasefire expires on Wednesday. Vice President JD Vance's trip to discuss an end to the war is reportedly on hold due to Tehran's lack of commitment, while President Donald Trump said the U.S. military is “ready” to bomb Iran if there's no agreement.
The Nasdaq and S&P 500 settled lower as well, the former brushing off Amazon.com's (AMZN) $25 billion investment in AI startup Anthropic. Investors also dismissed better-than-expected retail sales data for March, while oil prices continued to skyrocket amid supply concerns.
Continue reading for more on today's market, including:
- Bulls rushed 3M stock after a first-quarter earnings win.
- Can this quantum stock change its post-earnings luck?
- Plus, behind the Nasdaq's bull run; another blue chip to watch; and a short squeeze for CAR.
5 Things to Know Today
- Fed Chair nominee Kevin Warsh defended personal finances and noted President Trump never demanded interest rate cuts during his confirmation hearing. (CNBC)
- New York Attorney General Letitia James sued Coinbase Global (COIN) and Gemini, alleging their prediction markets violate gambling laws. (The Wall Street Journal)
- Breaking down the Nasdaq's historic win streak.
- Another blue-chip stock enjoying post-earnings tailwinds.
- How short squeeze mania took over Avis Budget Group stock.
Oil Prices Extend Gains Ahead of Ceasefire Deadline
Oil prices continued to charge higher, with the U.S.-Iran ceasefire deadline in focus. May-dated West Texas Intermediate (WTI) added roughly 3% to finish at $92.13 per barrel.
Gold prices slipped amid a stronger greenback, the possibility of peace talks between the U.S. and Iran, and the Senate confirmation hearing for Fed Chair nominee Warsh. June-dated gold fell 0.7% to settle at $4,797.90 an ounce.
