Stocks Rise on Big Earnings Day as Brent Hits $100: Markets Wrap
(Bloomberg) — US stock futures rose after President Donald Trump indefinitely extended his ceasefire with Iran on a day when traders will also focus on a broad slate of corporate earnings.
Brent briefly climbed above $100 a barrel as talks earmarked for Islamabad failed to take place, leaving the Strait of Hormuz mostly shut. S&P 500 contracts advanced 0.5% following the benchmark’s first back-to-back loss this month.
“Investors are either standing on the sidelines or have accepted the emotional influence on the market, knowing that negotiations to end the conflict are ongoing,” said Guillermo Hernandez Sampere, head of trading at MPPM.
European stocks fluctuated amid mixed first-quarter reports. Reckitt Benckiser Group Plc fell nearly 7% in London on sluggish demand for its medicines. ASM International NV hit a record in Amsterdam following strong orders for the chip-equipment maker’s gear.
Later on Wednesday, Tesla Inc. will be the main focus of corporate results on a busy day for US earnings. A slate of chip names including Texas Instruments Inc. and Lam Research Corp. is also due to report, with the Philadelphia Semiconductor Index eyeing its longest winning streak ever after 15 days of gains. Boeing Co. is among a group of industrials set to release results.
The earnings season has been off to a strong start, with 82% of the 71 companies in the S&P 500 that have reported so far outpacing estimates, according to data compiled by Bloomberg Intelligence. Investors have rewarded names linked to the artificial-intelligence trade in particular, as strong demand drives fresh optimism around the adoption of the capital-intensive technology.
Earnings have “been not only resilient, they’ve been remarkably strong,” Patrick Brenner, chief investment officer of multi-asset at Schroders, told Bloomberg TV. “As long as earnings are strong, we see no reason why equities should slow down.”
In bond markets, European debt fluctuated after the advance in oil picked up speed. The 10-year US Treasury yield was little changed at 4.28%. The dollar fell 0.2%, while gold rose above $4,750 an ounce. Bitcoin rallied more than 3% and briefly hit the highest level since February.
While stocks are again trading near record highs and earnings remain strong, some market participants warn that oil price volatility is likely to persist, with no deal in sight to reopen the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps seized two ships on Wednesday for “endangering maritime security.”
“Mixed messages from Donald Trump, and an insistence that a US blockade of Iran will continue, mean investors are still playing a guessing game,” said Russ Mould at AJ Bell. “Having tipped into alarm bell territory above $100 per barrel, oil prices have now dipped below this level – but they still tell a story of distress in global energy markets.”
Corporate News:
Deutsche Telekom AG is considering a full combination with its American arm T-Mobile US Inc., a move that would create a multinational telecom group and rank as the largest-ever public M&A deal. Reckitt Benckiser Group Plc’s reported slower than expected sales due to a weak cold and flu season in the US and supply disruption in the Middle East. ASM International NV projected revenue for the second quarter that exceeded analysts’ estimates, underscoring that artificial intelligence investments are driving demand for the Dutch chip-equipment maker’s gear. United Airlines Holdings Inc. slashed its full-year profit forecast as higher fuel prices caused by war in the Middle East batter global carriers. SpaceX said it has an agreement giving it the right to acquire artificial intelligence startup Cursor for $60 billion later this year or to pay $10 billion for the companies’ work together. Some of the main moves in markets:
Stocks
The Stoxx Europe 600 was little changed as of 11:23 a.m. London time S&P 500 futures rose 0.5% Nasdaq 100 futures rose 0.7% Futures on the Dow Jones Industrial Average rose 0.4% The MSCI Asia Pacific Index fell 0.5% The MSCI Emerging Markets Index fell 0.4% Currencies
The Bloomberg Dollar Spot Index fell 0.2% The euro was little changed at $1.1749 The Japanese yen was little changed at 159.32 per dollar The offshore yuan was little changed at 6.8271 per dollar The British pound was little changed at $1.3518 Cryptocurrencies
Bitcoin rose 3% to $78,015.96 Ether rose 3.2% to $2,390.57 Bonds
The yield on 10-year Treasuries declined one basis point to 4.28% Germany’s 10-year yield was little changed at 3.00% Britain’s 10-year yield declined one basis point to 4.87% Commodities
Brent crude rose 0.8% to $99.31 a barrel Spot gold rose 0.7% to $4,754.75 an ounce This story was produced with the assistance of Bloomberg Automation.
–With assistance from Neil Campling and Olivia Levieux.
©2026 Bloomberg L.P.
