Opening Comment — Wednesday, April 08, 2026
DJIA: 46,584.46, down 85.42
S&P 500: 6,616.85, up 5.02
NASDAQ: 22,017.85, up 21.51
Stocks higher following ceasefire news
Stock futures are higher Wednesday morning as markets react to news of a two-week ceasefire in the U.S.-Iran conflict and the planned reopening of the Strait of Hormuz, though there have been reports from several countries in the area of continued strikes. Investors are also looking forward to today’s release of the Federal Reserve’s (Fed’s) minutes from the March 18 Federal Open Market Committee meeting. As of 7:18 AM ET, the Dow is rising 2.6%, while the S&P 500 is up 2.7%. The Nasdaq 100 is increasing 3.4% relative to fair value on the GLOBEX.
U.S. equities were mixed on Tuesday as the preliminary reading of durable goods orders for February registered a greater-than-expected decline from the previous month, falling 1.4%. Meanwhile, consumer credit showed a smaller-than-expected increase in February, expanding by $9.48 billion compared to the downwardly revised increase of $7.67 billion in January. The Dow was down 0.2%, while the tech-heavy Nasdaq Composite rose 0.1%. The S&P 500 increased 0.1% with six of 11 sectors finishing in positive territory. The Communication Services sector was the top performer, rising 1.0%, while the Consumer Staples sector was the bottom performer, falling 1.8%.
On the data front, the Mortgage Bankers Association’s gauge of mortgage applications decreased by 0.8% for the week ending April 3 versus the prior week’s decrease of 10.4%. The Department of Energy’s measure of crude oil inventories is expected to have increased by 500,000 barrels for the week ending April 3 versus the prior week’s increase of 5.5 million barrels.
Across the pond, European stocks are higher in mid-day trading as German factory orders recorded a smaller-than-expected increase in February, rising 0.9% month-over-month (MOM) and 3.5% year-over-year (YOY). Meanwhile, France’s trade deficit widened in February, while its current account balance shifted into deficit. The construction purchasing managers’ indexes (PMIs) for both the U.K. and Germany rose in March, to 45.6 and 48.0, respectively. The eurozone’s February Producer Price Index (PPI) showed more deflation than projected, with prices falling 0.7% MOM and an expected 3.0% YOY. Meanwhile, the bloc’s February retail sales declined 0.2% MOM, matching expectations, and registered a stronger-than-expected increase of 1.7% YOY.
Overnight in Asia, stocks were higher as Japan’s labor cash earnings showed a greater-than-forecasted increase of 3.3% YOY in February, while the country’s February trade balance widened less than anticipated on a balance-of-payments basis.
In FOREX trading, the U.S. dollar is lower following the ceasefire news.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 16.5% lower at $94.27/barrel as markets await the expected reopening of the Strait of Hormuz.
In the metals complex, gold is 1.8% higher at $4,791.39/ounce following a weakening U.S. dollar.