Public Markets 8 Hours

Last updated: April 1, 2026, 11:30 AM ET

Geopolitical Shocks & Energy Markets

Global markets rallied on peace hopes as President Trump signaled a potential winding down of the conflict in Iran, sending US stock futures higher by 0.8% in premarket trading. Oil benchmarks retreated below $100 a barrel after the signaling, though lingering war risks keep investor euphoria in check given the potential for sustained inflation. The war fallout has already generated billions in additional oil revenues for Russia, with commodity windfalls extending to gas and aluminum exports.

The Middle East conflict continues to exert severe pressure on physical supply chains globally. Emirates Global Aluminium halted operations at its Al Taweelah smelter following drone and missile strikes attributed to Iran, while Saudi Arabia’s crude oil exports fell by 50% in March after Iran’s effective blockade of the Strait of Hormuz. This supply constriction has ripple effects, causing Colombian gasoline prices to rise as higher oil costs strain its budget deficit, and prompting the UAE to impose entry curbs on Iranian nationals in response to the attacks.

Corporate Finance & Technology Deals

Intel struck a $14 billion deal to repurchase Apollo Global Management’s stake in its Irish chip manufacturing facility, paying $14.2 billion to reclaim the 49% share it sold two years prior to improve its balance sheet. This move signals a commitment to restoring manufacturing prowess as the broader technology sector sees shifts in investor preference; shares of OpenAI are sinking on secondary markets while its competitor, Anthropic, is running hot. Meanwhile, in the private credit space, KKR is planning a $3.2 billion tender offer to take Japan’s Taiyo Holdings private, demonstrating deal activity remains resilient despite broader market anxieties per analysts.

Sovereign & Regulatory Actions

The US government secured a strategic victory by finalizing a $565 million loan to a Brazilian mining group, which includes critical offtake controls for rare earths supply, insulating the US from reliance on adversarial nations. In Asia, the Reserve Bank of India faces ongoing challenges to its currency, with markets now focused on potential further action after initial forex curbs provided only a brief reprieve for the sliding rupee. Separately, in the UK, borrowers refinancing five-year fixed-rate mortgages face an average monthly shock of an extra £395, though they will still pay less than those who fixed two years ago.

Market Sentiment & Sector Performance

US manufacturing activity expanded in March at the fastest pace since 2022, although input costs surged amid the Iran conflict, contributing to rising mortgage rates that climbed to a seven-month high of 6.57% according to recent data. While energy stocks posted gains in a volatile first quarter as conflict raged, other sectors face headwinds; Nike is losing ground in China, warning that the next quarter in its second-largest market could deteriorate further. In consumer goods, Conagra Brands narrowed its outlook following mixed third-quarter results in a dynamic operating environment.

Political & Legal Developments

Former President Trump arrived at the Supreme Court to argue a case, confronting justices he previously attempted to undermine, as the court prepares to hear a landmark challenge concerning the constitutionality of his executive order on birthright citizenship for children of undocumented persons. In international security matters, the US is reportedly planning military expansion in Greenland, a move met with local opposition, while France probes arrests linked to a thwarted attack on a Bank of America office in Paris, potentially connecting the incident to a new Iranian group.