Daily News
Apple Names New CEO as Tensions Stall Mideast Peace and Markets Snap Win Streaks
21 April 2026
Today in Brief
Markets wavered and gold stayed under pressure as U.S.-Iran tensions flared, with Iran threatening fresh battlefield leverage ahead of expiring ceasefire talks, while oil slipped on hopes of renewed Islamabad negotiations.
On the corporate front, Apple named John Ternus as its new CEO succeeding Tim Cook, Amazon deepened its Anthropic bet with a $25 billion investment, and Nvidia supplier Victory Giant soared 60% in its Hong Kong debut.
South Korea's Kospi hits record high amid mixed Asia markets as hopes linger for Mideast peace
South Korea's Kospi hit a record high Tuesday while the broader Asia-Pacific markets traded mixed, amid hopes for a resolution to the Middle East conflict, even as tensions between Iran and the U.S. continue to simmer. "Trump, by imposing a siege and violating the ceasefire, seeks to turn this negotiating table— in his own imagination— into a table of surrender or to justify renewed warmongering," Iran's parliament speaker Mohammad Bagher Ghalibaf said in a X post. "We do not accept negotiations under the shadow of threats, and in the past two weeks, we have prepared to reveal new cards on the battlefield," Ghalibaf, who is also Iran's top negotiator, added.
Stocks close lower amid U.S.-Iran war uncertainty, Nasdaq snaps 13-day winning streak
Stocks slipped on Monday after tensions between the U.S. and Iran escalated over the weekend. The S&P 500 shed 0.24% to close at 7,109.14, while the Nasdaq Composite declined 0.26% to finish at 24,404.39, with the latter snapping its 13-day winning streak — its longest positive streak since 1992. The Dow Jones Industrial Average lost 4.87 points, or 0.01%, settling at 49,442.56. On the flip side, the small-cap Russell 2000 rose 0.58% to 2,792.96, scoring a new closing record. The index also hit a new all-time intraday high during the session. Traders remain hard-pressed to fully price in a worst-case scenario on the war given stocks' recovery from near correction territory to all-time highs.
Gold held below $4,800 an ounce on Tuesday, remaining under pressure
Gold held below $4,800 an ounce on Tuesday, remaining under pressure as investors cautiously awaited a second round of negotiations between the US and Iran before their two-week ceasefire expires this week. Vice President JD Vance is expected to lead the US delegation in Pakistan once again, while Iran is also reportedly preparing to send representatives, reversing earlier signals that it would not join further negotiations. Meanwhile, President Donald Trump said he is unlikely to extend the existing truce if no agreement is reached before its expiration, adding that the Strait of Hormuz will remain closed until a deal is secured.
WTI crude futures slipped toward $86 per barrel on Tuesday, trimming gains from the prior session
WTI crude futures slipped toward $86 per barrel on Tuesday, trimming gains from the prior session following reports that Iran will send a delegation to Islamabad for a second round of negotiations with the US before the current two-week ceasefire expires. The move marks a shift from Tehran's earlier stance that it would not engage in additional peace discussions. Meanwhile, President Donald Trump said he is unlikely to extend the existing truce if no agreement is reached by this week, adding that the Strait of Hormuz will remain blocked until a deal is secured. The strategic waterway continues to play a central role in the talks, as tensions resurfaced over the weekend after the US seized an Iranian vessel while Tehran targeted ships and reasserted control over the strait.
U.S., Iran ratchet up rhetoric with peace talks in limbo
The U.S. and Iran escalated their war of words as a shaky ceasefire nears expiry, with each side raising the stakes ahead of a second attempt at reaching a peace deal. Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, appeared to up the ante in a social media post on Tuesday, criticising U.S. President Donald Trump for "imposing a siege and violating the ceasefire," and for seeking to turn the negotiation into "a table of surrender or to justify renewed warmongering." Ghalibaf also suggested that Iran is holding fresh leverage in the standoff. "In the past two weeks, we have prepared to reveal new cards on the battlefield," Ghalibaf said, without elaborating. "We do not accept negotiations under the shadow of threats," he added.
Chair nominee Kevin Warsh says Fed must 'stay in its lane' to maintain independence
Federal Reserve chair nominee Kevin Warsh said Monday the central bank must be largely independent of political influence but also should stay focused on its primary goals. In remarks to be delivered Tuesday to the Senate Banking Committee, Warsh also expressed firm commitment to fighting inflation with only one mention of the labour market. "Simply stated, Fed independence is largely up to the Fed," the former central bank governor said. Warsh's speech also features a familiar criticism he has brought in recent years, namely that the Fed on multiple occasions has overstepped its boundaries and reached into areas such as climate change and social inequality.
Gas prices may not drop below $3 a gallon until next year: Energy Secretary Wright
Energy Secretary Chris Wright on Sunday said gas prices may not drop below $3 until next year, as the U.S. war with Iran and closure of the Strait of Hormuz continue to wreak havoc on energy markets. "I don't know, that could happen later this year, that might not happen until next year, but prices have likely peaked," Wright said on CNN's "State of the Union" when asked when prices at the pump will return to pre-war figures. "Certainly with a resolution of this conflict, energy prices will go down." Wright added that "under $3 a gallon is pretty tremendous in inflation-adjusted terms. We had that in the Trump administration, but we hadn't seen that in inflation-adjusted terms for quite a long time. We'll get back there for sure." Gas prices have spiked since the U.S. launched the war with Iran. Tehran has largely locked up the Strait of Hormuz since the war broke out, a critical shipping channel that carries about a fifth of the world's oil.
Labor Secretary Lori Chavez-DeRemer leaves Trump cabinet, Keith Sonderling takes over
Department of Labor Secretary Lori Chavez-DeRemer is resigning from the Trump administration, the White House said Monday. Chavez-DeRemer, 58, will "take a position in the private sector," White House communications director Steven Cheung said in an X post. Deputy Labor Secretary Keith Sonderling will take over the department in an acting capacity, Cheung wrote. Chavez-DeRemer was reportedly embroiled in an investigation by the Labor Department's inspector general into allegations of professional misconduct, including that she used agency resources for personal trips and was engaged in an affair with a member of her security team. Chavez-DeRemer was expected to be interviewed as part of that internal probe in the coming days, a source familiar with the matter told MS NOW on Monday.
Apple taps John Ternus as CEO to replace Tim Cook, who will become chairman
Apple said on Monday that John Ternus is succeeding Tim Cook as CEO, with Cook assuming the role of executive chairman on Sept. 1. Ternus, a senior vice president of hardware engineering, will join Apple's board of directors when he becomes chief. Apple's nonexecutive chairman Arthur Levinson will become the iPhone maker's lead independent director at that time. "Cook will continue in his role as CEO through the summer as he works closely with Ternus on a smooth transition," Apple said in a press release. The company said in a filing that the board made the appointment on Friday. It's the first CEO transition for Apple since Cook, now 65, succeeded Steve Jobs at the helm in 2011, shortly before Jobs' death. Ternus will become Apple's eighth CEO.
Amazon to invest up to another $25 billion in Anthropic as part of AI infrastructure deal
Amazon has agreed to invest up to $25 billion in Anthropic, on top of the $8 billion that it has poured into the artificial intelligence startup in recent years, as part of an expanded agreement to build out AI infrastructure. In the announcement on Monday, Anthropic said it's committed to spending more than $100 billion on Amazon Web Services technologies over the next 10 years, including current and future generations of Trainium, Amazon's custom AI chips. Anthropic said it's secured up to 5 gigawatts of capacity for training and deploying its Claude AI models. "Anthropic's commitment to run its large language models on AWS Trainium for the next decade reflects the progress we've made together on custom silicon, as we continue delivering the technology and infrastructure our customers need to build with generative AI," Amazon CEO Andy Jassy said in a statement.
USA Rare Earth to buy Brazil's Serra Verde for $2.8 billion to build supply outside Asia
USA Rare Earth has announced plans to buy Brazilian rare earths miner Serra Verde in a deal worth $2.8 billion in cash and shares, as it seeks to challenge China's dominance of the supply chain. The Oklahoma-headquartered company said it will pay $300 million in cash and $126.9 million in its own newly issued stock for the transaction, which it expects to complete in the third quarter of 2026, subject to closing conditions and regulatory approvals. Rare earths have come to the fore as a key bargaining chip in the ongoing geopolitical rivalry between the U.S. and China, which produces nearly 70% of the world's rare earths from mines and almost 90% of refined rare earths, which includes materials imported from other countries.
Nvidia supplier Victory Giant sees shares soar 60% in Hong Kong debut
Shares in Victory Giant Technology surged as much as 60% on Tuesday, after the Chinese company's blockbuster initial public offering — the biggest in Hong Kong this year. The Chinese company, which supplies printed circuit boards to Nvidia, priced its shares at 209.88 Hong Kong dollars in the IPO. Shares were last trading 46% higher at HK$306.8. Victory Giant had raised about HK$20.1 billion ($2.57 billion) in the city's biggest listing in about seven months. This makes Victory Giant Hong Kong's biggest IPO since Zijin Gold International's $3.2 billion IPO in September. Investor interest in large listings in Hong Kong has been growing, especially in tech-related sectors, which have remained resilient despite market volatility tied to the current Middle East conflict.
