Global Morning Briefing: US Markets hit record highs
U.S. markets surged on April 24, with the S&P 500 hitting an all-time high of 7,165.08 (+0.80%) on optimism over Iran peace negotiations and strong Big Tech earnings. While the Nasdaq remained strong, the Dow Jones saw a slight dip. Tensions in the Strait of Hormuz and concerns over global oil supply remain key variables for the Asian markets.
Global Morning Briefing — April 25, 2026
Market Snapshot
| Index | Closing/Current | Change |
|---|---|---|
| S&P 500 | 7,165.08 | +56.68pt (+0.80%) |
| Nasdaq Composite | Record High | +398.09pt (Strong) |
| Dow Jones | 49,230.71 | -79.61pt (-0.16%) |
| Russell 2000 | Not Available | — |
| US 10Y Treasury | Not Available | — |
| Dollar Index (DXY) | Not Available | — |
| WTI Crude Oil | Rising | Continued Iran Tensions |
| Gold | Not Available | — |
| Bitcoin | Not Available | — |
U.S. Market Closing Review
On Thursday, April 24, U.S. markets saw a strong rebound, with the S&P 500 and Nasdaq setting all-time highs. The S&P 500 closed at 7,165.08, up 56.68 points (+0.80%), while the Nasdaq Composite gained 398.09 points, led by tech stocks. Conversely, the Dow Jones Industrial Average fell 79.61 points (-0.16%) to finish at 49,230.71.
The rally was driven by optimism regarding progress in peace negotiations with Iran and better-than-expected earnings from Big Tech companies. In contrast to April 23, when the Nasdaq recorded its largest monthly drop due to fears over the Strait of Hormuz, the market sentiment flipped as talk of negotiations resumed.
Sector-wise, Nasdaq-listed tech and growth stocks led the rally, while the energy sector showed mixed results due to rising oil prices. Defense stocks also saw interest due to Middle Eastern tensions. Trading volume remained relatively standard.
S&P 500, Nasdaq close at records on tech lift, Iran peace talk hopes | Reuters
Wall St ends close to all-time highs in light, post-holiday session | Reuters
Wall St ends mixed, notches weekly gains as investors parse Middle East negotiations | Reuters
Wall Street closes slightly down on renewed tensions between US, Iran | Reuters
S&P 500, Nasdaq push to closing records on optimism around Middle East talks, earnings | Reuters
Key Stocks and Trends
Top Gainers
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Nasdaq-listed Big Tech — Strong: Tech stocks rebounded sharply on the back of Iran peace talk optimism and solid earnings. These were the main drivers for the Nasdaq’s 398-point rise.
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GE Vernova (GEV) — Up 12% on the 22nd: Surged due to strong energy solution earnings linked to high AI demand, coinciding with President Trump's announcement of an extended Iran ceasefire.
Top Decliners
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Dow Jones Industrial Components — Slight decline: The Dow fell 0.16% due to lingering uncertainty over Iran negotiations, pressuring sectors sensitive to Middle East risks.
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Stocks from the April 23 sell-off: Tech and growth stocks, which saw a major plunge on the 23rd following Iran's seizure of two cargo ships, saw a significant recovery on the 24th.
Macro & Economic Indicators
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Iran War & CPI Inflation: According to Bloomberg, the March consumer price data reflected the impact of the Iran war, leading to a bond market decline. Expectations for Fed rate cuts have weakened, pushing 30-year US Treasury yields up by nearly 3bp. WTI crude exceeded $100 per barrel at its peak.
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Global Oil Supply Crisis: Reuters analysis indicates that 8.2 billion barrels of inventory have been depleted during the two months of the Strait of Hormuz blockade. While Asian countries are currently bearing the brunt of the supply shortage, Europe may be the next target if depletion accelerates.
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IMF World Economic Outlook: In its April 2026 report, the IMF warned of a global growth slowdown and resurgent inflation in the shadow of war. It emphasized the need for flexible policy responses to address rising defense spending.
Top Global News
Iran Peace Negotiations vs. Strait of Hormuz Tensions
- What happened: U.S.-Iran negotiation hopes drove the April 24 market rally, but Iran continues to display power in the Strait of Hormuz, including the seizure of two cargo ships. The unstable ceasefire continues to cause market volatility.
- Market implication: For energy-import-dependent countries like South Korea, this poses a risk of rising oil prices and supply chain disruptions. Investors should watch for volatility in energy-sensitive sectors like oil refining, aviation, and chemicals.
S&P 500, Nasdaq close at records on tech lift, Iran peace talk hopes | Reuters
Wall St ends close to all-time highs in light, post-holiday session | Reuters
Wall St ends mixed, notches weekly gains as investors parse Middle East negotiations | Reuters
Wall Street closes slightly down on renewed tensions between US, Iran | Reuters
S&P 500, Nasdaq push to closing records on optimism around Middle East talks, earnings | Reuters
Global Oil Demand Crisis Spreading to Asia and Europe
- What happened: Reuters Breakingviews reported that nearly two months of the Strait of Hormuz blockade has rapidly exhausted global oil inventories. A demand shock is expected to spread from Asia to Europe.
- Market implication: Persistent inflationary pressure is expected for Northeast Asian energy importers. Watch energy-related stocks like KEPCO and refiners.
Nasdaq Rebound After Monthly Low
- What happened: After the Nasdaq hit a monthly low on April 23 due to Iran tensions, it recovered rapidly on April 24 on earnings and negotiation hopes, leading the S&P 500 and Nasdaq to all-time highs.
- Market implication: Volatility in the Middle East is causing sharp daily swings in the KOSPI/KOSDAQ. Short-term, news-sensitive trading strategies are required.
S&P 500, Nasdaq close at records on tech lift, Iran peace talk hopes | Reuters
Wall St ends close to all-time highs in light, post-holiday session | Reuters
Wall St ends mixed, notches weekly gains as investors parse Middle East negotiations | Reuters
Wall Street closes slightly down on renewed tensions between US, Iran | Reuters
S&P 500, Nasdaq push to closing records on optimism around Middle East talks, earnings | Reuters
The Era of Energy Shocks
- What happened: Reuters analyzed that military conflicts, extreme weather, and supply chain collapses have triggered continuous energy crises over the last decade. Energy shocks are becoming the "new normal."
- Market implication: Long-term investment interest may flow into energy transition sectors like secondary batteries, solar power, and nuclear energy in South Korea, though near-term profit margins may be squeezed by energy costs.
Korea Market Checkpoint
Following the record highs on Wall Street, the KOSPI is expected to gap up on April 25, led by tech and semiconductors. However, lingering uncertainties regarding Iran and oil prices suggest high intra-day volatility. While major exporters like Samsung Electronics and SK Hynix may benefit from the Nasdaq's strength, refiners and aviation stocks face profitability pressures. Currency hedging for KRW/USD is advised given the heightened volatility.
Watch List
- Economic Indicators: US Q1 GDP advance estimate (expected KST evening) — the first reading to fully reflect the impact of the Iran war.
- Earnings: Ongoing major U.S. Big Tech earnings releases.
- Fed Policy: Monitor Fed members' speeches as recent CPI data has dampened rate cut expectations.
- Risks: 1) Potential oil price spikes if Iran provokes further action in the Strait of Hormuz or if negotiations collapse. 2) Speed of global inventory depletion.
Investor Action Items
- Morning Strategy: For large-cap semiconductors like Samsung Electronics and SK Hynix, avoid chasing gaps; monitor stability during the session. Iran-related news remains a wild card.
- Sector Check: Watch the AI/Semiconductor supply chain for gains from the Nasdaq, and track long-term momentum in energy transition/secondary batteries.
- Risk Management: In this news-driven market, reduce position sizes and set clear stop-loss lines. Consider reducing exposure in oil-sensitive sectors like aviation and chemicals.
This content was collected, curated, and summarized entirely by AI — including how and what to gather. It may contain inaccuracies. Crew does not guarantee the accuracy of any information presented here. Always verify facts on your own before acting on them. Crew assumes no legal liability for any consequences arising from reliance on this content.
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