Global Morning Briefing: US Market Hits Highs, Oil Spikes
On Wednesday, April 22, US markets closed higher thanks to President Trump’s extension of the Iran ceasefire, with the Nasdaq hitting an all-time intraday high. However, oil prices surged again after Iran seized two cargo ships in the Strait of Hormuz, sparking energy sector rallies. While Korean markets are expected to ride the Wall Street momentum today, investors should keep a close eye on volatile oil prices and Iran-related risks.
Global Morning Briefing — 2026-04-23
Market Snapshot at a Glance
| Indicator | Close/Current | Change |
|---|---|---|
| S&P 500 | 7,109.14 → 7,172.64 (Est.) | +0.88% |
| Nasdaq Composite | All-time intraday high | +1.42% |
| Dow Jones | 49,149.38 → 49,426.38 (Est.) | +277 pts |
| US 10-Year Treasury Yield | Slightly up | Reflecting energy/inflation concerns |
| WTI Crude Oil | Rising again | Due to Hormuz seizure incident |
| Bitcoin | — | — |
Note: Figures as of Wednesday, April 22. Specific closing prices based on Reuters and Sunday Guardian reports.
US Market Closing Review
US markets opened higher on Wednesday, April 22, as President Trump unilaterally announced an extension of the ceasefire with Iran. The Nasdaq hit an all-time intraday high (+1.42%), the S&P 500 rebounded about 0.88% from the previous day’s 7,064.01, and the Dow Jones rose 277 points. Strong earnings from AI-related companies boosted investor sentiment, driving a rally in tech stocks.
However, oil prices climbed back up and renewed energy concerns emerged after Iran seized two cargo ships in the Strait of Hormuz. While rising oil prices were a boon for the energy sector, they acted as a cap on index gains by stoking inflation fears. While gains narrowed late in the session, all three major indices finished in the green.
On Tuesday, April 21, the market had slumped, with the S&P 500 falling -0.63% (7,064.01), the Dow -0.59% (49,149.38), and the Nasdaq -0.87%. That dip was driven by Iran rejecting peace talks and oil prices spiking. Wednesday’s rebound was partly a correction of those losses.
By sector, AI and tech stocks led the gains, bolstered by strong results from GE Vernova, while the energy sector also rose alongside oil. Consumer staples and utilities remained relatively sluggish.
Wall Street falls as Middle East concerns offset earnings optimism | Reuters
Wall Street closes slightly down on renewed tensions between US, Iran | 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 mixed, with signs of progress as Trump
Key Stocks Today
Top Gainers
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GEV (GE Vernova) — +12%: Surged after reporting outstanding earnings driven by a massive spike in power demand for AI data centers. Strong buying interest in energy infrastructure and AI plays.
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TTD (The Trade Desk) — +7.03%: Rose as one of the S&P 500's biggest gainers following positive outlooks for digital advertising platforms. Figure recorded as of the previous day (4/20).
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SWK (Stanley Black & Decker) — +Up: Showed strong movement in the industrial sector, joining the list of gainers.
Top Losers
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Consumer Energy-related stocks — Down: Concerns over cost burdens from the oil price surge negatively impacted consumer goods, airlines, and transportation sectors. The Strait of Hormuz blockade is creating pressure to raise shipping costs.
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Market-wide (April 21) — Broadly down: Major indices fell collectively following Iran’s rejection of peace talks. S&P 500 -45.13 pts (-0.63%), Dow -293.18 pts (-0.59%), Nasdaq -144.43 pts.
Macro & Economic Indicators
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US-Iran Ceasefire Extension: President Trump unilaterally extended the ceasefire, but Iran retaliated by seizing two cargo ships in the Strait of Hormuz. Uncertainty over the ceasefire's reliability is a key driver of market volatility. Oil is under upward pressure, and inflation fears are again suppressing expectations for Federal Reserve rate cuts.
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Treasury Yields and Inflation Worries: According to Bloomberg, inflation caused by the fallout of the Iran war is weakening Fed rate-cut expectations. With the March Consumer Price Index (CPI) exceeding estimates, Treasury yields continue to climb. WTI is trading above $100/barrel, sustaining upward pressure on energy prices.
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IMF World Economic Outlook (April): In its April report, the IMF warned of a global growth slowdown and a resurgence in inflation under the shadow of war. It emphasized the need for agile policy responses and balancing trade-offs resulting from increased defense spending.
Global Top News
Wall Street falls as Middle East concerns offset earnings optimism | Reuters
Wall Street closes slightly down on renewed tensions between US, Iran | 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 mixed, with signs of progress as Trump
Trump Extends Ceasefire; Iran Retaliates with Ship Seizure
- What happened: Despite President Trump’s unilateral ceasefire extension, Iran challenged the move by seizing two cargo ships in the Strait of Hormuz. US markets initially reacted positively to the ceasefire news, but gains were capped by the seizure.
- Market implications: The Strait of Hormuz is a critical chokepoint through which 20% of global oil and gas flows. This incident increases the risk of higher energy prices. South Korea is highly dependent on Middle Eastern oil, meaning direct impacts on the refining, airline, and transportation sectors are inevitable if oil prices soar.
Asian Markets Near All-Time Highs — Led by Japan, Korea, Taiwan
- What happened: According to Reuters, Asian markets on Thursday, April 23, followed Wall Street's lead, with Japan, South Korea, and Taiwan hitting or approaching record highs. Strong corporate earnings supported sentiment despite concerns over oil.
- Market implications: An environment favoring gains for the KOSPI and KOSDAQ is forming, with capital likely to concentrate on semiconductors and power equipment—both AI beneficiaries. However, oil price risks remain a capping variable.
Iran War, Paradox of Long-Term Oil Demand — Short-term Destruction, Long-term Expansion
- What happened: Reuters analysis warns that while current oil demand destruction due to the Hormuz blockade is intensifying, long-term spikes in energy security concerns and global supply chain fragmentation could actually surge oil demand. It noted that the price disconnect between spot and futures is at an all-time high.
- Market implications: The Korean refining and energy sectors face short-term volatility. Longer term, interest may grow in energy independence infrastructure and alternative energy stocks.
Canadian PM Trudeau: "International Organizations Unable to Achieve Goals" — Warning of Disintegration of US-led Multilateralism
- What happened: In a CNBC interview (4/23), PM Trudeau argued that current international institutions may no longer function effectively, calling for "microlateralism" where small groups of countries unite around shared interests. His remarks came in the context of the Iran war and unilateral US diplomacy accelerating a shift in global order.
- Market implications: As supply chain risks rise, South Korea is sensitive to geopolitical risks given its dependence on US and Chinese trade. Defense and energy security stocks may see increased interest.
Korean Market Checkpoints
Asian markets on April 23 are showing strength, with Japan, South Korea, and Taiwan nearing record highs. Wednesday’s Wall Street rebound (Nasdaq +1.42%, S&P 500 +0.88%) and the AI earnings surprise from GE Vernova are expected to have a positive impact on Korean semiconductor and power equipment stocks. However, oil prices—pushed up by the Iran ship seizure—could pressure Korean refining, airline, and shipping sectors. The KRW/USD exchange rate may also fluctuate based on geopolitical risk. Expect a positive opening for the KOSPI, with direction determined by oil trends; selective interest in large-cap AI/semiconductor stocks and defense shares is advised.
Watch List
- Economic Indicators/Events: US weekly jobless claims are upcoming. With the Iran situation ongoing, checking labor market health will impact market direction. Monitor WTI—will it hold above $100?
- Earnings: The US big tech earnings season is underway. Following GE Vernova’s AI power infrastructure surprise, the key is how much other companies emphasize AI investment this week.
- Fed/Policy Events: Keep an eye on speeches by Fed officials. As CPI and oil prices push back rate-cut expectations, further remarks could increase bond market volatility.
- Risk Factors: ① Further Iranian provocations in the Strait of Hormuz or potential US military response—could trigger oil spikes and risk-off sentiment. ② Risk of a market plunge if the US-Iran ceasefire officially collapses.
Investor Action Items
- Check Early Session Direction: Watch the intraday flow of key Asian indices (Japan/Taiwan) and look for foreign net buying in Korea. Large-cap semiconductors like Samsung Electronics and SK Hynix will likely lead the index. Note that GE Vernova’s surprise could spill over to domestic power equipment/transformer stocks (e.g., HD Hyundai Electric).
- Selective Energy/Defense Approach: Refining stocks may see short-term gains during oil spikes, but shipping/airlines will suffer if Hormuz risks raise transport costs. Maintain interest in defense stocks (Hanwha Aerospace, LIG Nex1) if the Iran risk persists.
- Risk Management: Uncertainty remains high, so review the weight of oil-linked assets in your portfolio. Consider hedging with gold or dollar-denominated assets and establish exit criteria to prepare for short-term volatility.
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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