Markets U.S. stocks edged higher on April 7, extending gains for a fourth consecutive session as investors monitored developments in Middle East tensions. Among the top 20 stocks by trading volume, JPMorgan warned that Tesla's share price could fall another 60%. Popular U.S.-listed Chinese stocks were mixed: Silicon Motion Technology rose 2.36%, while Pony.ai fell 2.82%.
Oil prices climbed as markets weighed former President Trump’s threats against Iran alongside a proposed ceasefire. Gold staged a V-shaped recovery, and copper futures saw modest gains.
Macro Trump issued a new threat, stating that 7:00 p.m. on April 7 was the "final deadline." He described Iran’s ceasefire proposal as "significant" but "not good enough," insisting the deadline was non-negotiable and warning of swift military action if terms were not met. Trump also noted that negotiations were "progressing smoothly" but emphasized that any deal must include reopening the Strait of Hormuz.
U.S. officials revealed details of a pilot rescue operation involving over 100 aircraft and deceptive tactics. They described Iran’s response to the proposed truce as "demanding too much." In domestic policy, the Trump administration finalized better-than-expected payment rates for Medicare Advantage plans, a positive for health insurers.
Former economic advisor Hassett reiterated expectations for Federal Reserve rate cuts once Waller assumes the chairmanship. Separately, NASA’s Artemis II mission broke the record for the farthest human flight from Earth.
Iran presented ten demands in response to the U.S. ceasefire proposal, which Trump acknowledged as meaningful but insufficient. Iran’s parliament began reviewing plans to control the Strait of Hormuz, rejecting a 45-day truce in favor of a permanent end to hostilities. Iranian military officials stated that U.S. threats could not undo the "humiliation" America had suffered, confirming that four officers died resisting a U.S. rescue attempt. Iran also claimed strikes on U.S. bases in Saudi Arabia and Kuwait and vowed to continue fighting as long as political leaders deemed it appropriate.
Israel reported launching "large-scale airstrikes" on multiple targets in Tehran. An Israeli official said Netanyahu warned Trump against rushing into a ceasefire during their call. Meanwhile, Russia’s foreign minister announced that Moscow and Islamic nations had established a dialogue to build trust regarding the Middle East. Ukrainian President Zelenskyy revealed that Kyiv had proposed an energy truce to Russia through U.S. mediation.
Corporate Broadcom confirmed it will supply Google’s TPU chips to Anthropic, offering an alternative to Nvidia’s technology. OpenAI called for an investigation into Elon Musk, accusing him of hindering AGI development and engaging in unfair competition. Maritime analysis firms reported that traffic through the Strait of Hormuz had split into north and south channels, with one analyst noting that the strait was not fully blocked and tankers continued orderly passage.
Jefferies suggested Twilio could benefit from the adoption of AI voice technology stacks. Ventura Offshore secured a contract extension for a Brazilian drilling platform worth over $600 million. Citi added AMD to its catalyst watch list, while Intel is pursuing packaging deals with major tech firms and discussing AI chip packaging with Amazon and Google. JPMorgan maintained its bearish view on Tesla, citing lowered EPS expectations as evidence of slowing growth. Netflix launched a new children’s gaming app called Playground.
Commentary JPMorgan warned that prolonged closure of the Strait of Hormuz could push U.S. gasoline prices above $5 per gallon. The International Monetary Fund stated that war in the Middle East would slow economic growth and intensify inflation. A Federal Reserve official suggested that interest rates might need to rise if inflation remains above target. Casey’s General Stores is set to join the S&P 500 index.
A commodities overview noted that Trump’s latest threats drove crude oil higher and gold lower. Veteran strategist Yardeni viewed the tech stock pullback as a buying opportunity. Analysts projected Apple’s shares could surge 20%, with the potential MacBook Neo as a key catalyst. A Goldman Sachs trader predicted that "fast money" funds would soon return to buying equities.
Comments