Daily News
Markets Rattled as Trump Vows More Strikes on Iran; SpaceX Files for IPO
02 April 2026
Today in Brief
Global markets turned volatile after Trump's prime-time address promised intensified strikes on Iran over the coming weeks, dashing hopes of an imminent ceasefire and pushing oil back above $100.
In other news, SpaceX confidentially filed for a record IPO targeting a $1.75 trillion valuation, NASA launched the Artemis II lunar mission, and the FDA approved Eli Lilly's once-daily GLP-1 weight-loss pill.
Asia-Pacific markets reverse gains as investors assess Trump's speech on Iran war
Asia-Pacific markets reversed gains on Thursday as investors assessed U.S. President Donald Trump's address to the nation on the Iran war. During his speech, Trump reiterated that the U.S. objectives in Iran were almost met and said that "we have all the cards" in the conflict. He also said that Washington will hit Iran "very hard" over the next two to three weeks. Early Wednesday stateside, Trump claimed that Iran's "New Regime President" had asked the U.S. for a ceasefire, a claim that Tehran has denied. Trump added that the U.S. will "consider" the offer only once the Strait of Hormuz was "open, free, and clear," he said on Truth Social.
Dow jumps 200 points to start April as traders bet Middle East conflict will soon end
Stocks rose on Wednesday, while oil prices declined to start the month, as hope grew that an end to the U.S.-Iran war was on the horizon. The S&P 500 advanced 0.72% and closed at 6,575.32, and the Nasdaq Composite gained 1.16% and settled at 21,840.95. The Dow Jones Industrial Average added 224.23 points, or 0.48%, to end at 46,565.74. President Donald Trump said in a post on Truth Social Wednesday morning that Iran's president has asked the U.S. for a ceasefire. However, the U.S. will consider the offer when the Strait of Hormuz is "open, free, and clear," Trump added, writing that "until then, we are blasting Iran into oblivion or, as they say, back to the Stone Ages!!!"
Gold prices declined to around $4,690 per ounce on Thursday, ending a four-day gain
Gold prices declined to around $4,690 per ounce on Thursday, ending a four-day gain, as the US dollar rebounded after President Donald Trump offered no definitive timeline for ending the Middle East conflict. In his remarks, Trump said Washington's core strategic objectives in Iran were approaching completion but also warned that the military campaign could continue with more intense action over the next two to three weeks, a stance that strengthened the US dollar. The greenback has recently emerged as a safe-haven asset, putting pressure on dollar-denominated precious metals. Oil prices also resumed their advance, reinforcing inflation concerns and expectations of tighter monetary policy.
WTI crude oil futures jumped more than 5% on Thursday
WTI crude oil futures jumped more than 5% on Thursday, reclaiming levels above $100 per barrel and halting a two-day decline, as hopes for an imminent resolution to the Iran conflict dimmed. In his rare prime-time speech, President Donald Trump gave no clear end date for the Middle East conflict, saying the US has nearly met its strategic objectives in Iran and warning that military operations could intensify over the next two to three weeks, hitting Iran "extremely hard" and setting it "back to the stone ages." The statements raised concerns over further escalation and potential damage to more energy infrastructure. Meanwhile, Iran rejected Trump's claim that it had sought a ceasefire, asserting that the Strait of Hormuz would remain closed and that the vital transit route is firmly under IRGC Navy control.
President again says war is nearly over, vows 'extremely hard' hits in coming weeks
President Donald Trump told Americans on Wednesday night that he expects the war on Iran to last another two to three weeks, but deemed it close to an end. Trump in a televised address from the White House, touted the successes of the U.S. campaign, dubbed Operation Epic Fury and repeated what he has said multiple times recently — the war won't last much longer. "We are going to finish the job, and we're going to finish it very fast," he said. Oil and stock markets reacted negatively to the speech. The U.S. and Israel began the war on Feb. 28 with strikes around Iran, including one that killed the Islamic Republic's supreme leader, Ayatollah Ali Khamenei.
Iran sets up 'toll booth' in Strait of Hormuz, as oil tankers detour via Larak Island for safe passage
While choking off most traffic through the Strait of Hormuz, Iran has quietly established a de facto safe-shipping corridor north of Larak Island, as Tehran seeks to monetize its grip on the world's most important oil shipping artery. Traffic through the strait has fallen by 90% since the war began on Feb 28, with Iran targeting vessels attempting to transit the waterway, causing one of the world's most devastating energy supply shocks in decades. Select vessels are being routed through Iranian territorial waters near Larak Island — off the coast of its Bandar Abbas port city — where the Islamic Revolutionary Guard Corps, or IRGC, and port authorities vet each ship before granting passage. "Iran's IRGC has imposed a de facto 'toll booth' regime in the Strait of Hormuz," said maritime research firm Lloyd's List Intelligence.
Indonesia earthquake damages buildings, triggers tsunami waves
An earthquake of magnitude 7.6 struck in Indonesia's Northern Molucca Sea on Thursday, killing one person, damaging some buildings and triggering tsunami waves, authorities and witnesses said. Indonesia's meteorology agency BMKG said tsunami waves were reported in five locations, the highest at 0.75 m (2.46 ft) in North Minahasa, North Sulawesi and 11 aftershocks were monitored, the largest at a magnitude of 5.5. It warned the public to stay alert. BMKG chief Teuku Faisal Fathani told a press conference that its modelling indicated there was tsunami potential for waves of 0.5 m to 3 m (1.6 ft to 9.8 ft) high. U.S. tsunami warning authorities initially said hazardous tsunamis were possible along the coasts of Indonesia, the Philippines and Malaysia within 1,000 km (620 miles) of the epicenter, but later removed the threat warning.
NASA launches first crewed lunar mission in half a century
Four astronauts blasted off from Florida on Wednesday on NASA's Artemis II mission, a high stakes 10-day trip around the moon that marks the United States' boldest step yet toward returning humans to the lunar surface this decade before China's first crewed landing. NASA's Space Launch System (SLS) rocket, topped with its Orion crew capsule, roared to life just before sunset at the agency's Kennedy Space Center to lift its first crew of three U.S. astronauts and a Canadian astronaut off Earth, a thunderous ascent leaving behind a towering column of thick white vapor. The Artemis II crew of NASA astronauts Reid Wiseman, Victor Glover and Christina Koch and Canadian Space Agency astronaut Jeremy Hansen are poised for a nearly 10-day expedition around the moon and back, taking them deeper into space than humans have ever gone.
FDA approves Eli Lilly's GLP-1 pill, opening the next phase of the weight loss drug market
The U.S. Food and Drug Administration has approved Eli Lilly's GLP-1 pill, the company said, a major milestone for the Indianapolis-based drugmaker and one that will test the market for new weight loss medications. Lilly said the once-daily pill, Foundayo, will start shipping from direct-to-consumer platform LillyDirect on Monday and will be available at pharmacies and on telehealth platforms "shortly after." People with insurance coverage could pay $25 a month with a coupon from Lilly, while people paying out of pocket could pay between $149 and $349, depending on the dose. The approval comes just a few months after Lilly submitted the drug to the FDA as part of a program that grants speedy reviews for drugs that are considered national priority interests.
SpaceX confidentially files for IPO, setting stage for record offering
Elon Musk's SpaceX has confidentially filed for an IPO with the Securities and Exchange Commission, sources told CNBC's David Faber, bringing Elon Musk's rocket company one step closer to what's expected to be a record public offering. Bloomberg was first to report on SpaceX's confidential filing, citing people familiar with the matter, and adding that the company could seek a valuation of $1.75 trillion, with a listing around June. Founded by Musk in 2002 to develop and operate reusable rockets, SpaceX has turned into NASA's biggest launch partner after the agency ended its space shuttle program in 2011. The company merged with Musk's xAI in February, creating a combined entity that he valued at the time at $1.25 trillion.
Amazon eyes $9 billion Globalstar deal to rival SpaceX's Starlink
Amazon is in talks to buy satellite telecom group Globalstar as it ramps up efforts to build its own low-earth-orbit satellite business to rival SpaceX's Starlink, the Financial Times reported on Wednesday, citing people familiar with the matter. Globalstar's shares, which have more than doubled in market value over the past year, surged 24% to $85 in extended trading following the report. The company had a market cap of $8.81 billion as of last close. Covington, Louisiana-headquartered Globalstar is known for its low-earth-orbit communication satellites and offers voice, data and asset-tracking services across enterprise, government and consumer markets. Amazon and Globalstar were still negotiating some of the complexities of a potential deal after lengthy talks, according to the report. One complicating factor has been Apple's ownership of a 20% stake in Globalstar, necessitating negotiations between Amazon and Apple, the report said.
Estee Lauder, Puig advance talks for a stock based deal
Estée Lauder Companies shares fell 1.5% Wednesday following a new report that the company is in advanced talks to combine with Spain's Puig Brands SA in a mostly stock deal. The two family-owned companies are negotiating a transaction that could create one of the world's largest luxury beauty players, according to a report from Bloomberg News, citing people familiar with the matter. The deal, the topic rumours that surfaced last month, could be formally announced within weeks. Under the proposed terms, Puig Executive Chairman Marc Puig would join the board and is expected to play a key role in integrating the two companies. The presence of a Puig family member in a leadership position is viewed as important for providing continuity during the transaction. Marc Puig served as chief executive officer until last month.
