Markets closed with U.S. stocks experiencing minor declines as investors monitored uncertainties surrounding U.S.-Iran relations. Among the top 20 stocks by trading volume, Nvidia's CEO commented that U.S. chip restrictions reflect a typical "loser mentality." Popular U.S.-listed Chinese stocks showed mixed performance, with United Microelectronics rising 8.28% and Hesai Technology falling 5.81%.

Oil prices jumped significantly due to heightened tensions in the Strait of Hormuz following incidents involving commercial vessels. European markets declined amid concerns over delayed ceasefire prospects between the U.S. and Iran.

On the macroeconomic front, the former U.S. President stated that sanctions on Iran would not be lifted until an agreement is reached, adding that an extension of the ceasefire period is unlikely. He emphasized that any forthcoming deal with Iran would be substantially better than the previous nuclear agreement. The U.S. opened applications for $160 billion in tariff rebates, providing major retailers like Walmart with substantial refunds.

A candidate for Federal Reserve Chair pledged to maintain monetary policy independence, noting that presidential comments on interest rates do not pose a threat. The U.S. Labor Secretary is set to depart amid an investigation into alleged inappropriate conduct with staff. A U.S. military official indicated that crew members of a detained Iranian cargo ship would return home soon.

A White House advisor mentioned that the U.S. is prepared to offer fiscal aid to the UAE if needed, though currency swaps may be unnecessary. U.S. officials confirmed a meeting with Cuban government representatives took place on April 10.

Iran’s Supreme Leader reiterated three fundamental stances, while the Iranian President expressed "long-standing, deep distrust" toward the U.S. Iran committed to ensuring unimpeded passage for Russian vessels through the Strait of Hormuz but showed hesitation regarding participation in a second round of talks. An Iranian parliamentary speaker affirmed that Iran would not negotiate under threat, and the Foreign Minister cited U.S. "provocation and treaty violations" as major obstacles to diplomacy. Cuba confirmed it met with a U.S. delegation.

In corporate news, Apple announced a leadership change, with a new CEO taking over as Tim Cook transitions to Chairman of the Board. Cook issued an open letter to global Apple users. Amazon plans to invest up to an additional $25 billion in Anthropic, deepening their collaboration on AI infrastructure. During U.S.-Iran tensions, the U.S. Import-Export Bank significantly increased energy financing.

JetBlue's CEO stated the company is not considering bankruptcy. Shares of U.S. military drone manufacturer Aevex doubled in two days following its IPO, reflecting strong investor interest in defense technology stocks. Elon Musk disregarded a summons from French prosecutors, highlighting growing friction between tech giants and European regulators. The California government accused Amazon of contributing to higher consumer prices and presented new evidence.

Japanese automakers face an aluminum supply crisis, with inventories potentially depleting by May. Commerzbank formally rejected UniCredit's hostile takeover strategy.

In commentary, Citi warned that oil could reach $110 per barrel if disruptions in the Strait of Hormuz persist for another month. A commodities overview noted that Middle East tensions drove oil higher, while gold and copper prices declined. The U.S. Treasury market was largely flat, recovering from early losses.

The CEO of Wells Fargo stated that U.S. economic fundamentals remain resilient, contrasting with widespread public pessimism. Options traders are increasing bullish bets, anticipating an average earnings season volatility of 5.6%. Since the former President's return to the White House, a basket of related stocks has significantly outperformed the S&P 500.

ECB President Lagarde noted that rising energy prices are not sufficient to trigger a policy shift. Major Wall Street banks remain optimistic about U.S. corporate earnings prospects despite ongoing Iran-related conflicts.