4:15pm: Peace hopes boost stocks
Wall Street was buoyed on Tuesday on hopes of another round of peace talks between the US and Iran, with all three major indices posting gains.
The Nasdaq added 2% at 23,639 points, the S&P 500 was up 1.2% at 6,967 points, and the Dow Jones added 0.7% at 48,535 points. Oil, meanwhile, fell more than 7% to trade at about $92 per barrel.
3:45pm: Proactive news headlines
- Sintana Energy Inc said it has appointed IJG Securities as sponsor and corporate adviser and begun discussions toward a potential listing on the Namibia Securities Exchange, with plans to broaden local investor participation if approved.
- 374Water Inc announced the reappointment of former board member Rick Davis, citing his more than 30 years of experience in investment banking, corporate finance, and clean technology.
- Nextech3D.AI said it has reached cash flow positive operations following an AI-driven optimization program that streamlined operations and is expected to generate about $400,000 in annualized cost savings.
- Trillion Energy International Inc reported a light oil discovery at its Çetinkaya-1 well in Türkiye and said it is shifting its focus toward higher-impact oil exploration after confirming multiple hydrocarbon-bearing zones.
- BioVie Inc said an abstract from its Phase 2 SUNRISE-PD trial of bezisterim in early Parkinson’s disease has been accepted for presentation at an upcoming neurology conference.
- Tiziana Life Sciences Ltd said a late-breaking poster on its Phase 2a intranasal foralumab study in Multiple System Atrophy has been accepted for presentation at the World Parkinson Congress in 2026.
- Replenish Nutrients Holding Corp announced it has been approved for up to $250,000 in Canadian government funding under the Sustainable CAP program to support expansion of its Beiseker fertilizer processing facility.
- Purepoint Uranium Group Inc said its winter drill program at the Dorado joint venture in Saskatchewan extended uranium mineralization at the Nova discovery, reinforcing the potential scale of the find.
2:40pm: Market movers
- Ford Motor Company (NYSE:F) rose after UBS upgraded the stock to Buy, citing improving earnings visibility and a potential path to EPS above $2 by 2027.
- Tesla Inc (NASDAQ:TSLA) gained after UBS shifted its rating to Neutral, noting the current valuation better balances near-term demand pressures with long-term AI-driven growth potential.
- Lucid Group Inc (NASDAQ:LCID) fell after announcing a roughly $300 million equity offering as part of a broader $1 billion capital raise involving strategic investors.
- United Airlines Holdings Inc (NASDAQ:UAL, XETRA:UAL1) rose on merger speculation following a Bloomberg report suggesting potential consolidation discussions involving senior leadership with American Airlines Group Inc (NASDAQ:AAL, XETRA:A1G).
- BlackRock Inc (NYSE:BLK) climbed after reporting stronger-than-expected Q1 results, driven by robust inflows and higher technology-related revenues.
- Wells Fargo & Co (NYSE:WFC, XETRA:NWT) slipped after mixed Q1 results, where earnings beat estimates but revenue came in slightly below expectations.
- 374Water Inc (NASDAQ:SCWO, FRA:8LL) announced the reappointment of a seasoned board member with extensive experience in finance and clean technology.
- Nextech3D.AI (CSE:NTAR, OTCQX:NEXCF, FRA:1SS) turned cash flow positive following an AI-driven restructuring and automation initiative that reduced costs and improved efficiency.
- Trillion Energy International Inc. (CSE:TCF, OTCQB:TRLEF, FRA:Z620) surged after announcing a light oil discovery in Türkiye and signaling a strategic shift toward high-impact exploration.
- Tiziana Life Sciences Ltd (NASDAQ:TLSA) gained attention after a Phase 2a intranasal therapy study for multiple system atrophy was accepted for presentation at a major medical congress.
1:05pm: Oil falls
"Crude prices fell below $96 per barrel as markets reacted to signs that the US and Iran may resume negotiations, easing some immediate supply concerns following Washington’s blockade of the Strait of Hormuz," commented IG's Axel Rudolph.
"Talks are reportedly being arranged ahead of the expiry of the two-week ceasefire, although previous discussions failed to reach agreement.
"Despite the pullback in oil, the broader outlook remains uncertain, with the IEA warning the conflict could wipe out global oil demand growth this year - marking the first annual decline since the pandemic - while ongoing damage to energy infrastructure and restricted shipping continue to weigh on supply.”
11:45am: Broad economy isn't overheating: analyst
The latest PPI report suggests that inflation is being influenced by external shocks, according to Gina Bolvin, president of Bolvin Wealth Management.
"Energy is driving the upside, and with geopolitical tension around key oil routes, those price moves can happen quickly and filter through the system," Bolvin noted.
"Underneath that, core inflation is relatively steady, which suggests the broader economy isn’t overheating. That split is what makes this moment tricky. It leaves the Fed in a holding pattern—unable to ignore higher headline inflation, but also hesitant to react to what looks like a temporary, supply-driven move.
"When inflation becomes less predictable, markets tend to become more reactive—and that’s exactly the environment we’re in," she added.
10:45am: JPM, Citi top expectations
JPMorgan Chase & Co (NYSE:JPM, XETRA:CMC) shares were little changed on Tuesday morning after the bank reported first quarter results that exceeded analyst expectations, driven by strength in trading and investment banking.
The lender posted earnings of $5.94 per share, ahead of the $5.45 estimate, while revenue came in at $50.54 billion, topping forecasts of $49.17 billion.
Elsewhere, Citigroup Inc (NYSE:C) first-quarter profit rose sharply from a year earlier and topped Wall Street estimates, helped by stronger trading performance and steady growth across its core businesses.
The bank said revenue rose 14% to $24.63 billion, above analysts’ expectations of $23.5 billion, while earnings per share came in at $3.06, compared with estimates of $2.6.
9.55am: Nasdaq surges, S&P and Dow held back by banks and energy
Wall Street stocks have begun Tuesday trading higher, with the Nasdaq climbing over 1% to exceed its levels from before the US and Israel began attacks on Iran.
The S&P 500 has risen 0.5% and the Dow Jones 0.2%.
Top risers on the S&P are Oracle, Robinhood, Coinbase, Carvana, Axon Enterprise, Ares Management, Fair Isaac and Super Micro Computer.
At the other end, financials, energy and technology names are leading the fallers, with Wells Fargo among the weakest on the back of its earnings.
Technology hardware names also slipped, including Dell Technologies, Hewlett Packard Enterprise, chipmaker Intel, and storage firm SanDisk.
Energy stocks were under pressure as oil prices pulled back, with decliners including super majors Exxon Mobil and Chevron, as well as producers such as ConocoPhillips, Occidental Petroleum, Devon Energy, Coterra Energy and Diamondback Energy, with oilfield services group Halliburton also falling.
Chemicals and materials names weakened, including Dow, LyondellBaselland fertiliser producer CF Industries.
8:30am: PPI comes in cool
US producer price inflation came in softer than expected, suggesting some easing in pipeline price pressures.
The Producer Price Index rose 4.0% year-over-year, below the 4.6% consensus forecast, while monthly PPI increased 0.5%, also missing expectations of a 1.1% gain.
Core PPI, which excludes food and energy, rose 3.8% year-over-year versus expectations of 4.1%, while the monthly core reading edged up just 0.1%, compared with estimates for a 0.4% increase.
The cooler-than-expected data points to moderating wholesale inflation trends, which may ease some pressure on future consumer price inflation readings.
7:50am: Futures looking mixed
US stocks are pointing to a mixed open as investors weigh fresh developments in US-Iran talks alongside the start of a busy earnings week.
Futures for the Dow Jones are slightly in the red, while S&P 500 futures are up 0.2% and those for the Nasdaq-100 have gained 0.4%.
Wall Street ended Monday higher on hopes that US-Iran talks may resume and optimism around earnings. The Nasdaq rose 1.2%, the S&P 500 gained 1%, both now back above pre-conflict levels, while the Dow added 0.6%.
US oil prices softened overnight and have remained flat in the early hours, with West Texas Intermediate crude down 1.4% at $97.71 a barrel, while the global Brent benchmark has edged higher in European trading.
After talks with Iran broke down over the weekend, Vice President JD Vance said "the ball is in the Iranian court”, adding that President Donald Trump “would be very happy if Iran was treated like a normal country”.
The comments come as markets continue to assess the fallout from the conflict, with the International Energy Agency saying that global oil supply fell by 10.1 million barrels per day in March, the largest disruption on record, and warned that demand could contract this year.
Attention now turns to results from JPMorgan Chase, Wells Fargo, Citigroup, BlackRock and Johnson & Johnson.
JPMorgan Chase and Citigroup shares were down 0.2-0.5% in premarket trade despite beating top- and bottom-line expectations for first-quarter results.
Wells Fargo was down 2.1% after a revenue miss and disclosure of $36.2 billion of exposure to private credit firms.