Markets News, April 9, 2026: U.S. Indexes End Higher, Oil Pares Gains on Iran Ceasefire Optimism; Dow Turns Positive for Year

Stocks rallied to end higher and oil prices pared gains amid optimism the ceasefire between the U.S. and Iran would hold.

The tech-heavy Nasdaq Composite, benchmark S&P 500, and blue-chip Dow Jones Industrial Average closed Thursday up a respective 0.8%, 0.6%, and 0.6%. The Dow moved back into positive territory for the year, while the Nasdaq and S&P 500 finished higher for a seventh straight session apiece. Yesterday, major stock indexes soared and oil prices plunged after President Donald Trump announced late Tuesday that the U.S. and Iran had agreed to a two-week ceasefire.

West Texas Intermediate futures, the U.S. crude oil benchmark, plummeted 15% yesterday, the biggest one-day decline since 2020. They bounced back Thursday, rising as high as $102.70 a barrel before paring gains, recently trading at $98.90 at 4 p.m. ET, still up 4.8% on the day. Brent crude, the global benchmark, settled up more than 1% at almost $96 after ending down 13% Wednesday.

The three major U.S. indexes were lower for most of the morning. Stocks turned higher and oil pared gains after Israeli Prime Minister Benjamin Netanyahu said the nation had agreed to open direct negotiations with Lebanon. Yesterday, Iran's parliamentary speaker, MB Ghalibaf, had said Israel's continued attacks on Lebanon violated the ceasefire agreement.

Traders also mulled the results of the delayed release of the Personal Consumption Expenditures Price Index for February. The PCE, the Federal Reserve's preferred inflation gauge, rose 2.8% year-over-year, the same as the prior month, and "core" inflation increased 3%, down slightly from 3.1% in January. Both readings matched economists' expectations, as did 0.4% month-over-month increases for both PCE and "core" PCE. Tomorrow brings the release of the Consumer Price Index report for March.

The 10-year Treasury yield, which influences interest rates on mortgages and other consumer loans, was recently at 4.29%, down slightly from Wednesday's close of 4.30%.

The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, declined 0.4% to 98.77. Gold futures erased earlier losses to rise 0.4% to $4,795 an ounce. Bitcoin was recently trading at $72,100, slightly higher on the day.

Shares of all the Magnificent Seven tech giants ended higher except for Microsoft (MSFT). Amazon (AMZN) was up 5.5% to lead the septet. Intel (INTC) rose nearly 5% after announcing an expanded chip deal with Alphabet's (GOOG, GOOGL) Google.

Beer maker Constellation Brands (STZ) reported declining sales but shares surged 8.5%. Walt Disney (DIS) stock was 0.6% higher as The Wall Street Journal reported that the entertainment giant was preparing to lay off up to 1,000 people under new CEO Josh D'Amaro.

Will Higher Inflation Expectations Force the Fed's Hand?

Despite a newly agreed-to ceasefire in the Iran war, the risks are rising that price-shocked consumers and businesses won't expect the inflation spike to be temporary.

Higher inflation expectations could become self-fulfilling, analysts say, as businesses pass on higher expected costs to customers and employees’ requests for raises turn into an unhealthy spiral.

The fear is a replay of the 1970s, when years of punishing inflation ended only after the Federal Reserve strangled the economy with nearly 20% interest rates.

Mel Musto / Bloomberg via Getty Images

Markets see little risk of inflation spiraling out of the Fed’s control this time and forcing drastic Fed hikes, especially after this week's ceasefire. But analysts don't expect a quick return to normal for oil prices or other commodities facing supply constraints, either.

Read the full article here.

-Polo Rocha

Why Walmart's CFO Says American Consumers Are More 'Resilient' Than It May Seem

How are shoppers doing after six weeks of war and the worst oil supply shock in history? Apparently, just fine.

“The consumer continues to be very resilient,” Walmart (WMT) CFO John David Rainey said Wednesday at a JPMorgan conference. “I am probably more constructive on the consumer than what one would glean from reading the headlines,” said Rainey when asked how shoppers were responding to the war in Iran and climbing fuel prices.

Consumers increased their spending by 0.5% in February, a modest increase from January when harsh winter weather weighed on spending, according to data released today. But investors and economists have been concerned for the past six weeks that the war in Iran and the subsequent spike in oil prices will cause Americans, especially low- and middle-income groups that spend more of their income on gas, to tighten their belts.

Jeffrey Greenberg / Universal Images Group via Getty Images

Rainey acknowledged the war in Iran may impact consumer behavior in the medium-term. But he said the headwinds it has generated for the company and its customers have so far been offset by other factors, including larger-than-expected tax refunds.

Read the full article here.

-Colin Laidley

Hardly Any Ships Are Getting Through the Strait of Hormuz

It was once an obscure bit of trivia, followed perhaps by oil traders and ship spotters, and now the trajectory of inflation and the U.S. economy hinges on it: how many ships sail through the Strait of Hormuz each day?

On Tuesday, only 12 ships made it through the crucial passage between the Persian Gulf and the Gulf of Oman, according to a report from S&P Global. Iran said it would allow "about a dozen" ships to go through the strait each day, the Wall Street Journal reported, citing statements by Iranian negotiators. That would be down from the typical average of more than 100 each day before the war.

Ship traffic through the strait is important for the U.S. economy because it directly affects the prices of oil, gasoline, and diesel fuel, as well as the cost of other important resources like fertilizer.

Investopedia / Elizabeth Guevara

In peacetime, 20% of the world's oil supply is typically shipped through the Strait from Persian Gulf exporters. With that flow down to a trickle, in addition to damage to energy facilities during the five-week conflict, the price of oil has shot up, pushing fuel prices higher in turn.

Read the full article here.

-Diccon Hyatt

Shares of Jack Daniel's Parent Soar Again on Takeover Talk

For the second time in as many weeks, Brown-Forman (BF.B) shares are soaring on takeover talk.

Shares of Brown-Forman jumped 15% Thursday afternoon following a report in The Wall Street Journal that privately held Sazerac, the parent of Fireball Cinnamon Whisky, recently approached the Jack Daniel's owner about a potential deal.

On March 26, Brown-Forman stock popped 10% following a Bloomberg report, citing people familiar with the matter, that French beverages firm Pernod Ricard was interested in acquiring the company.

Brown-Forman shares are up 18% year-to-date but are down 10% over the past 12 months.

Jakub Porzycki / NurPhoto via Getty Images

Intel Racks Up Another Win With Google AI Chip Deal

Intel just struck another AI chip deal, this time with Google.

Intel (INTC) and Alphabet's (GOOGL) Google announced an expanded, multiyear partnership Thursday for Intel's Xeon processors to be used across Google Cloud infrastructure. The companies also plan to work together to develop new custom chips for use in Google's data centers.

The news comes just days after Intel said it's joining Elon Musk's terafab project, the chip factory that will be used by Tesla (TSLA), SpaceX, and xAI.

Some of Intel's other deals in recent months have included a high-profile partnership with AI chip leader Nvidia (NVDA), after selling a stake to the U.S. government.

Justin Sullivan / Getty Images

The latest agreements could also lead to more, with recent reports suggesting deals with Amazon (AMZN) and former client Apple (AAPL) may be on the way.

Intel shares were up close to 3% in recent trading, while Alphabet shares ticked less than 1% higher. With Thursday's gains, shares of Intel have surged over 60% in 2026, while Alphabet's stock has added about 2%.

-Aaron McDade

Retail Investors Are Getting Back Into Tech Stocks as Bearishness Cools

Tech is the new tech trade.

Before geopolitical issues came to the fore in late February, investors were ambivalent about the technology and artificial intelligence they drove sky-high in 2025, particularly the largest companies in the U.S. stock market known as the Magnificent Seven. As those powerhouses sank into the red they are still down so far this year—the question was whether the AI trade would remain alive.

Now the pullback aided by the war in Iran has reset investor appetites. With valuations reading "extremely cheap" by some measures, and renewed hankering for growth, tech stocks would appear to be on the cusp of being fashionable once more.

Getty Images

"Long US tech feels like the one trade that stands apart from the obvious post-ceasefire playbook," Vanda wrote Thursday.

Read the full article here.

-Crystal Kim

BlackBerry Stock Jumps on Strong Results, Rosy Revenue Forecasts

BlackBerry (BB) posted better-than-expected fiscal 2026 fourth-quarter results Thursday. Its revenue forecasts didn't disappoint investors, either.

Shares of the Canadian software and cybersecurity firm, formerly best known for its smartphones, soared 9% in recent trading after it reported adjusted earnings of 6 cents per share on revenue that increased 10% year-over-year to $156 million. Analysts surveyed by Visible Alpha had expected 5 cents per share and $144 million, respectively.

In addition, the Waterloo, Ontario-based company said it expected current-quarter revenue of $132 million to $140 million and fiscal 2027 revenue of $584 million to $611 million, both comfortably above consensus forecasts.

"We have strengthened our fundamentals while continuing to invest—in our people, products and platforms, as well as in certifications that position BlackBerry at the center of secure, miss