By Stephen Culp
April 16 – Wall Street moved higher on Thursday, as traders assessed ongoing Middle East peace negotiations and parsed a mixed bag of corporate earnings.
With these modest gains, the S&P 500 and the Nasdaq both notched their second consecutive all-time closing highs, while the Nasdaq clinched its 12th straight session of gains, its longest winning streak since 2009.
And before you read on, don’t forget to sign up for Jamie McGeever’s upcoming LSEG webinar on April 23, where he’ll talk about safe havens in uncertain times with his ROI colleague Mike Dolan.
Here are a few articles I recommend to help you make sense of what happened in markets today.
1. President Donald Trump said Israel and Lebanon have agreed to a 10-day ceasefire
2. Optimism that the war on Iran could be nearing its conclusion was boosted by breakthroughs on some “sticky issues,” but the fate of Iran’s nuclear program remained unresolved
3. Germany has cut its 2026 growth forecast in half – to 0.5% from 1.0% – and raised its inflation projections on Iran war energy shock
4. Democratic Senator Elizabeth Warren said she believes the holes in Federal Reserve Chair nominee Kevin Warsh’s financial disclosures are not in compliance with Senate ethics rules, and pressed for a delay in confirmation hearings
5. U.S. industrial output unexpectedly dropped 0.5% in March, weighed down by motor vehicle production, while capacity utilization eased to 75.7%, or 3.7 percentage points below its long-term average
Today’s Key Market Moves
• STOCKS: Wall Street stocks posted moderate gains and European shares ended nominally lower as investors on both sides of the pond weighed signs of potential resolution in the Middle East against a mixed spate of corporate earnings
• SECTORS/SHARES: 7 of the 11 major sectors of the S&P 500 ended green, with energy enjoying the largest percentage gains;
• FX: The dollar climbed against major currencies, retracing recent losses on a technical recovery
• BONDS: U.S. Treasury yields rose as climbing crude prices heightened inflation fears
• COMMODITIES/METALS: WTI and Brent crude settled higher on doubts U.S.-Iran peace talks will resolve supply disruptions;
• COLUMN: Wall Street’s ‘escapism’ – irrational, yet completely logical: McGeever
Today’s talking points
* Relaxation of day-trading rules opens door to risky ‘YOLO’ trading
The U.S. Securities and Exchange Commission approved a proposal to remove restrictions that limited accounts under $25,000 to three day trades – defined as buying and selling of the same security within the same trading day – within five business days, known as the “pattern day trade” rule.
The move could encourage impulsive, high-risk “you only live once” trades and allow eager, individual traders to take an even bigger role in driving markets.
* Trump to attempt to press economic reset button in upcoming campaign-style rally tour
Faced with stubbornly high inflation, particularly at the gas pump, President Donald Trump will aim to brush off economic concerns and the sagging political prospects of the Republican Party as he swings through battleground states Nevada and Arizona this week.
Trump’s clout to drive support for his fellow conservatives in November’s midterm election has faded amid spiking costs for essentials such as fuel, groceries and healthcare.
* Pope Leo blasts ‘handful of tyrants’ ravaging the world
The first U.S. Pope took aim at leaders who spend billions on wars, in unusually forceful remarks in Cameroon on Thursday.
It was the latest salvo in the war of words between Trump and the pontiff, which showed little sign of abating after the president posted an image on Truth Social depicting himself being embraced by a depiction of Jesus before an American flag.
The original post had a caption that read, in part “God might be playing his Trump Card!”
What could move markets tomorrow?
• Developments in the Middle East
• Energy market moves
• Social media posts from Trump
• Euro zone trade balance (February)
• Italy trade balance (February)
• Canada housing starts (March)
• U.S. Federal Reserve policymakers slated to speak: San Francisco Fed President Mary Daly, Richmond Fed President Thomas Barkin, Fed Board Governor Christopher Waller
• On the earnings front, State Street, Fifth Third Bancorp, Regions Financial and Truist Financial are due to report
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Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
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