Iran peace talk sends S&P +0.72%, WTI below $100 for first time in weeks. SpaceX files confidential IPO at $1.75T valuation — could be largest in history. Intel reclaims Irish fab from Apollo for $14.2B; INTC +8.79%, chip sector surges. Lilly’s Foundayo becomes first oral GLP-1 weight-loss pill (LLY +3.78%). IEA warns April oil supply crisis twice as bad as March. Trump floats NATO exit; XOM -5.23%, CVX -4.59%.
MIB: Iran Off-Ramp Sparks Risk-On Rally While SpaceX Goes Public and the Energy Trade Unwinds
MIB: Rally on Borrowed Peace — Iran Hopes Lift S&P 2.9% but $100 Oil and a Quantum Threat Linger
S&P 500 +2.91% and Nasdaq +3.43% on WSJ report Trump is willing to end Iran war without reopening the Strait of Hormuz. Gas hits $4/gallon — highest since 2022 — even as peace talks start. Oracle cut 30,000 jobs (18% of workforce) to fund AI data centers; $58B in new debt. Google warned quantum computers could crack Bitcoin in 9 minutes. Eli Lilly acquired Centessa for $7.8B to enter narcolepsy drugs. Nike beat Q3 estimates but fell 3% AH on weak China.
MIB: Oil Shock, Semiconductor Selloff, and Powell’s Dovish Pivot Reshape the Market
Iran War Day 31: Trump threatens to obliterate Iran’s energy infrastructure unless Hormuz reopened immediately (Tehran: demands “unrealistic”). WTI +5.39% to $105; gas $3.99 nationally, up $1.01 in one month. Google TurboQuant AI compression crushes semiconductors: MU -9.92%, LRCX -5.43%, Nasdaq -0.73%. Powell “looks past” oil shock at Harvard — rate hike odds collapsed from 52% to 2%. Russell 2000 -1.51% vs Dow +0.11% — small caps pricing in recession. Nike earnings tomorrow.
