Daily News
Japan, South Korea Stocks Hit Record High as Investors Shrug Off Stalled U.S.-Iran Negotiations
27 April'26
Today in Brief
Japan, South Korea stocks hit record high as investors shrug off stalled U.S.-Iran negotiations.
Global markets, commodities, and geopolitical tensions continue to drive sharp swings across regions.
Japan, South Korea stocks hit record high as investors shrug off stalled U.S.-Iran negotiations
Asia-Pacific markets were mostly higher Monday as investors looked past diplomatic setbacks between the U.S. and Iran, even as escalating tensions in the Middle East kept oil prices elevated. Japan's Nikkei 225 added 1.4% to hit a record high, while South Korea's Kospi jumped 1.83%, also scaling a new peak. In Australia, the S&P/ASX 200 slid 0.54%. Hong Kong Hang Seng index slid 0.17%, while mainland China's CSI 300 added 0.25% after China's industrial profits jumped 15.8% from a year earlier in March, accelerating from the 15.2% surge in the first two months of this year. Sentiment held up despite U.S. President Donald Trump on Saturday scrapping plans to send U.S. envoy Steve Witkoff and Jared Kushner to Islamabad, Pakistan for negotiations with Iran.
S&P 500, Nasdaq close at records, boosted by Intel, as investors hope for a restart to U.S.-Iran talks jumps
The S&P 500 and Nasdaq Composite closed at record levels on Friday after investors were given a hopeful sign that peace talks between the U.S. and Iran would soon take place in Pakistan. The broad market index finished up 0.8% at 7,165.08, while the tech-heavy Nasdaq added 1.63% to settle at 24,836.60. Both indexes also scored fresh all-time intraday highs. However, the Dow Jones Industrial Average fell 79.61 points, or 0.16%, to end the at 49,230.71. MS NOW reported, citing a Pakistani official, that Iranian Foreign Minister Abbas Araghchi is expected to arrive in Islamabad on Friday evening to have a discussion with Pakistani mediators about a possible second round of negotiations with the U.S.
Gold climbed back above $4,700 an ounce on Monday, reversing losses from earlier in the session
Gold climbed back above $4,700 an ounce on Monday, reversing losses from earlier in the session after reports emerged that Iran had submitted a new proposal to the US aimed at reopening the Strait of Hormuz and ending the war. The proposal, reportedly delivered via Pakistani mediators, called for extending the ceasefire to allow progress toward a permanent end to hostilities, while deferring nuclear negotiations until the US blockade of the strait is lifted. Earlier in the session, gold had fallen after US President Donald Trump cancelled a planned trip by senior envoys to resume talks with Iran in Islamabad, while Tehran reiterated it would not engage in negotiations under threats or blockade conditions.
WTI crude futures eased back toward $95 per barrel on Monday
WTI crude futures eased back toward $95 per barrel on Monday after reaching as high as $96.7 earlier in the session, following reports that Iran had submitted a new proposal to the US aimed at reopening the Strait of Hormuz and de-escalating the conflict. The proposal, reportedly conveyed via Pakistani mediators, called for an extension of the ceasefire to allow negotiations toward a permanent end to hostilities, while delaying nuclear talks until the US blockade of the strait is lifted.
World leaders express shock, support after White House Correspondents' Dinner shooting
World leaders reacted on Sunday with shock and support for U.S. President Donald Trump after a man armed with multiple weapons charged a security checkpoint at the White House Correspondents' Dinner in Washington, D.C., on Saturday before being apprehended by U.S. Secret Service agents. Trump, first lady Melania, and members of Trump's Cabinet were evacuated from the event. One officer was shot, but he was "saved by the fact that he was wearing obviously a very good bulletproof vest," Trump told reporters during a press conference in the White House briefing room following the incident. The suspected shooter was identified later Saturday as Cole Allen of Torrance, California. He is being held by authorities as they investigate the shooting. U.K. Prime Minister Keir Starmer said he was "shocked" by the scenes at the dinner.
Iran's top diplomat briefly returns to Pakistan but Trump says the sides can talk by phone
Iran's foreign minister briefly visited Islamabad again on Sunday as Pakistan's political and military leadership scrambled to reignite ceasefire negotiations between Tehran and Washington, but U.S. President Donald Trump said they could talk by phone instead. Abbas Araghchi had left Pakistan's capital late the previous day, creating confusion around an expected second round of talks there, but he returned before continuing on to Moscow on Sunday, Iranian state media said. He had been in Oman, which previously mediated talks and is on the other side of the strategic Strait of Hormuz. "If they want, we can talk but we're not sending people," Trump told Fox News on Sunday. He said earlier on social media: "All they have to do is call!!!"
Tillis ends block of Fed chair nominee Warsh, clears way for Trump pick
Sen. Thom Tillis said Sunday he is willing to end his blockade of Federal Reserve chair nominee Kevin Warsh after the U.S. Department of Justice dropped its criminal investigation of Fed Chair Jerome Powell. Warsh now has a clear path to replacing Powell as the next leader of the Fed when Powell's term expires in mid-May. The Senate Banking Committee is set to vote on his confirmation on Wednesday, and the full Senate could take it up shortly after. With Tillis's support, the confirmation of President Donald Trump's pick to lead the Fed is all but assured. "I am prepared to move on with the confirmation of Mr. Warsh, I think he's going to be a great Fed chair," Tillis, R-N.C., said on NBC's "Meet the Press." "We were very clear that we have assurances from the DOJ that I needed to make sure they were not using the DOJ as a weapon to threaten the independence of the Fed. So this will allow Mr. Warsh to move on with his confirmation on time."
U.S. imposes sanctions on Chinese 'teapot' refinery for buying Iranian oil
The Trump administration said on Friday it had imposed sanctions on an independent "teapot" refinery in China for buying billions of dollars' worth of Iranian oil, as Washington and Tehran head into another round of peace talks over the weekend. The Treasury Department targeted Hengli Petrochemical (Dalian) Refinery, which it said is one of Iran's largest customers of crude oil and petroleum products. The department's Office of Foreign Assets Control said it also imposed sanctions on about 40 shipping companies and vessels that operate as part of Iran's shadow fleet. China has said it opposes "illegal" unilateral sanctions. On Friday, its embassy in Washington said normal trade should not be harmed and called on Washington to stop "abusing" sanctions to target Chinese companies.
Sun Pharma shares jump 5% as India's largest drugmaker to buy U.S. firm Organon in $11.75 billion deal
Shares in Sun Pharmaceutical Industries rose 5% Monday, after India's largest drugmaker announced it will acquire New Jersey-based Organon & Co in an all-cash deal that values the U.S. company at $11.75 billion, including debt. The company will acquire all outstanding shares of Organon for $14 apiece, according to an exchange filing by Sun Pharmaceutical. "Following a comprehensive review of strategic alternatives, our Board determined that this all-cash transaction offers compelling and immediate value to Organon stockholders," said Carrie Cox, executive chair at Organon, in the joint statement. Organon, which was spun off from Merck in 2021, specializes in women's health and biosimilars and has more than 70 products that are sold across 140 countries.
Nvidia stock closes at record, pushing market cap past $5 trillion
Nvidia shares closed at a record on Friday for the first time since October, pushing the company's market cap past $5 trillion, as investors piled into the AI chip trade ahead of earnings next week from tech's hyperscalers. The stock rose 4.3% to close at $208.27. Nvidia is up more than 14-fold since the end of 2022, driven by soaring demand for artificial intelligence services and models. Nvidia's graphics processing units are relied on by Google, Microsoft, Meta and Amazon as well as model developers OpenAI and Anthropic. Friday's rally was sparked by better-than-expected earnings late Thursday from chipmaker Intel, which has largely been left out of the AI market until recently. Intel shares spiked 24%, their best performance since 1987.
US chipmakers hit record highs as Intel turbocharges AI rally
U.S. chip stocks soared to record highs on Friday as Intel's unexpectedly strong revenue forecast reinforced confidence that the AI boom powering this year's rally in the semiconductor sector is showing no signs of slowing down. The foremost stock index for chip makers - the Philadelphia SE Semiconductor Index - rose 3.2% to an all-time high and was on track to extend its record-breaking streak of single-day gains to 18. The index has gained more than 47% this year. Chip stocks have been some of the biggest gainers of the spending spree by tech giants on scaling up their AI infrastructure. "The AI build-out race is still on. We are seeing solid results, especially for semiconductors and no sign that demand for AI is slowing down," said Angelo Kourkafas, senior global investment strategist at Edward Jones.
DeepSeek unveils new AI model tailored for Huawei chips as China pushes for tech autonomy
DeepSeek, the Chinese startup whose low-cost AI model stunned the world last year, launched on Friday a preview of a highly awaited new model adapted for Huawei chip technology, underlining China's growing autonomy in the sector. The Pro version of the new model outperforms other open-source models in world-knowledge benchmarks, trailing only Google's closed-source Gemini-Pro-3.1, DeepSeek said. The close collaboration with Huawei on the new model, the V4, contrasts with DeepSeek's past reliance on Nvidia's AI chips. Huawei said its chips were used in some of the V4's training process. "This is a big deal for China's AI industry," said He Hui, director of semiconductor research at consultancy Omdia. "Huawei's Ascend chips are the country's best homegrown alternative to Nvidia, and supporting DeepSeek V4 shows that top Chinese AI models can now run on Chinese hardware."
