Alain’s Holdings
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 647.25 | -4.29 | -0.66% |
| QQQ | Invesco QQQ Trust | 644.33 | -2.46 | -0.38% |
| XIU.TO | iShares S&P/TSX 60 ETF | 49.88 | -0.63 | -1.25% |
| VRT | Vertiv Holdings Co. | 312.44 | -1.97 | -0.63% |
Index Closes
The S&P 500 closed down 0.63% at 7,064.01,
the Nasdaq Composite settled 0.59% lower at 24,259.96, and
the Dow Jones Industrial Average shed 293 points, or 0.59%, to finish at 49,149.38.
The Russell 2000 also fell 1.00% to 2,764.97, while
the VIX edged up 3.34% to 19.50.
The Big Story: U.S.-Iran Ceasefire on the Brink
Stocks dropped as investors grew concerned that a peace deal between the U.S. and Iran would not be struck ahead of a ceasefire set to expire Wednesday. Nervousness intensified heading into the close amid reports that Vice President JD Vance’s trip to join Iran negotiations was paused due to a lack of commitment from Tehran.
As of market close, planned peace talks in Islamabad had still not occurred. Oil futures surged nearly 5% for the day as the Strait of Hormuz remained closed ahead of the ceasefire’s final day. Brent crude advanced sharply to close at $90.56 a barrel.
Shortly after stocks settled, President Trump said the ceasefire would be extended until an Iranian proposal is submitted.
Earnings Spotlight
UnitedHealth Group was a bright spot in an otherwise downbeat session. Shares jumped more than 7% after the company delivered a top- and bottom-line beat for Q1 and raised its 2026 earnings outlook. A key driver was improved management of medical costs, with the company’s medical benefit ratio falling in the first quarter — a sign of higher margins.
Other premarket gainers included MSCI, Humana, Molina Healthcare, and Amazon, while Cincinnati Financial, SBA Communications, Extra Space Storage, and Tractor Supply were among the decliners.
Apple CEO Transition
Apple announced Monday that Tim Cook will step down on September 1, with hardware chief John Ternus taking over. Apple’s Q1 earnings are due April 30 — Cook’s final report as sitting CEO.
Fed Chair Hearing
Wall Street also digested Fed chair appointee Kevin Warsh’s confirmation hearing before the Senate Banking Committee.
Global Markets
Asian markets were mixed overnight. South Korea’s Kospi hit a record high of 6,388.47, gaining 2.72%, supported by tech stocks including Samsung Electronics (+2.1%) and SK Hynix (+4.97%).
Japan’s Nikkei 225 gained 0.89% to 59,349.17, while
Australia’s ASX 200 ended flat.
Mainland China’s CSI 300 rose 0.22%, and
Hong Kong’s Hang Seng edged up 0.35%. European markets closed higher, recovering from recent pressure.
Market Context
The S&P 500 spent much of 2026 in the red — down nearly 7% as of early April — before a ceasefire announcement on April 8 sparked a sharp reversal. Over the following two weeks, the index climbed back to new all-time highs, with the Nasdaq running a 13-day winning streak into April 17, its longest since 1992. Tuesday’s session marked a continuation of the pullback triggered by renewed geopolitical uncertainty around the Strait of Hormuz.
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