U.S. stock indices opened higher on the evening of April 6, with all three major averages showing collective gains.
Storage-related stocks led the early gains. Seagate Technology surged over 8%, while SanDisk rose more than 4%. Western Digital climbed nearly 4%, and Micron Technology advanced close to 3%. The uptick followed news that Morgan Stanley had added Seagate Technology to its "preferred stock list."
Most Chinese concept stocks also traded higher. At the time of reporting, the Nasdaq Golden Dragon China Index was up 0.64%.
Oil prices experienced significant volatility. WTI crude oil earlier surged more than 3% before declining to nearly 2% below opening levels, then rebounding noticeably. As of the latest update, WTI crude was up 0.58%.
Gold and silver showed mixed performance.
Regarding Middle East tensions, what is the likelihood of a ceasefire between the U.S. and Iran? Citing the latest U.S. media reports, a White House official stated that a proposed 45-day ceasefire plan between the United States and Iran is only "one of many options" currently under discussion. The official emphasized that U.S. President Trump has not yet approved the plan, and U.S. military operations against Iran continue.
In related developments, Iran's largest petrochemical facility has come under attack. Iranian media reported on April 6 that petrochemical plants in Asaluyeh and South Pars in Bushehr Province were "attacked by enemy forces," with several explosions heard.
Israeli Defense Minister Katz issued a statement on the 6th, confirming that Israeli forces struck Iran's "largest petrochemical facility" located in Asaluyeh, southern Iran. The facility is a primary production base for Iran's petrochemical products, accounting for approximately half of the country's total output. He added that Israeli forces targeted another "major petrochemical facility" last week, and together, the two sites represent about 85% of Iran's exported petrochemical production. The attack is expected to deal a severe economic blow to Iran, with estimated losses reaching tens of billions of dollars. Israeli forces have been instructed to continue striking Iran's national infrastructure with full force.
In response, Iran launched the 98th wave of its "True Promise-4" operation. The Islamic Revolutionary Guard Corps issued a statement on the 6th, announcing strikes against U.S. and Israeli command, operational, and logistical bases, as well as military-industrial infrastructure. Targets included strategic centers north and south of Tel Aviv, chemical enterprises and factories in Beersheba, and Israeli military positions in Petah Tikva. Earlier that morning, the IRGC Navy also struck an Israeli-owned container ship, the SDN7, with a cruise missile, causing a fire on board. The statement further noted that a U.S. amphibious assault ship was forced to retreat to the southern Indian Ocean following the attacks.
On the Federal Reserve's interest rate outlook, international investment banks have revised their expectations for rate cuts this year. Wells Fargo now anticipates the Fed will keep rates unchanged through 2026, compared to a previous forecast of two cuts this year. Citigroup expects the Fed to cut rates in September, shifting from an earlier prediction of a June reduction.
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