Iran Conflict & Geopolitics:
Trump Signals War End: Donald Trump announced the Iran war is "winding down" and
set a 2-3 week timeline to end operations, claiming objectives are "meeting or
exceeding benchmarks."
Strait of Hormuz & Ceasefire: Trump stated he would consider a ceasefire only if
the Strait of Hormuz is "open, free, and clear"; however, Iran’s Foreign
Ministry dismissed these claims as "baseless," insisting on a full end to
aggression and security guarantees.
Trade Policy:
Major Tariff Overhaul: Trump is preparing to revise steel and aluminum tariffs,
applying a 25% duty to the full value of finished imports (replacing the current
50% levy on just metal content).
Markets & Equities:
Relief Rally: U.S. stocks extended gains for a second day as Iran de-escalation
hopes lifted sentiment; S&P 500 (+0.72%) and Nasdaq 100 (+1.16%) closed higher.
Oil Volatility: Brent crude settled at $101.16/bbl (-2.7%) on ceasefire talks,
though traders remain sharply divided, with leveraged oil shorts drawing a
record $977M in March.
Gold Rebound: Spot gold broke above $4,800/oz in early Asia trading, marking its
fifth consecutive day of gains amid ongoing geopolitical uncertainty.
Corporate & Technology:
SpaceX IPO Move: SpaceX has confidentially filed for an IPO with the SEC,
targeting a valuation above $1.75 trillion and a potential listing as early as
June 2026.
OpenAI Capital Shift: SoftBank executed its first $10B tranche of investment in
OpenAI.
Intel Buyback: Intel agreed to pay $14.2B to repurchase Apollo’s 49% stake in
its Ireland fabrication joint venture.
U.S. Economy & Policy:
Manufacturing Surge: March ISM Manufacturing PMI hit 52.7 (highest since 2022),
but input costs surged to 78.3 due to Strait of Hormuz disruptions, signaling
potential inflationary pressure.
Labor Market: ADP private payrolls rose by 62,000 in March, exceeding
expectations (40,000).
DHS Funding: Republican leaders reached a deal to fully fund the Department of
Homeland Security (DHS) for the next three years.
