- U.S. stock futures were higher on Tuesday, while oil prices slid as traders
reacted to a number of solid earnings results.
- Crude prices declined across the board, giving equity futures a boost. West
Texas Intermediate crude futures dipped 2% to above $103 per barrel. Brent crude
futures lost 1% to trade at above $112 a barrel.
- While the ceasefire between the U.S. and Iran remains fragile amid fresh
attacks in the Strait of Hormuz, Defense Secretary Pete Hegseth said Tuesday
that “two U.S. commercial ships, along with American destroyers, have already
safely transited the strait, showing the lane is clear.”
- The U.S. reportedly said that it had sunk Iranian boats in the Strait of
Hormuz. Admiral Brad Cooper, who leads U.S. Central Command, said on Monday
afternoon that American forces had eliminated six small Iranian boats that were
attempting to interfere with commercial shipping
- The U.S. trade deficit widened in March on a monthly basis, but was 55% the
same period a year ago, just before President Donald Trump’s tariffs kicked in.
- Michael Burry dumped his entire stake in GameStop after the company’s
audacious bid for eBay, saying the deal’s heavy leverage shattered the
investment case he had been building.
- Coinbase CEO Brian Armstrong said Tuesday that the company will cut roughly
14% of its workforce, citing a combination of market volatility and AI quickly
changing how the company operates.
- PayPal — Shares gained nearly 3% after PayPal reported first quarter earnings
of $1.34 per share, on an adjusted basis, on revenues of $8.35 billion.
