Markets rally hard: Nasdaq +2.8%, gold +1.2% as Middle East risks intensify.
Global markets were mixed, with U.S. equities rallying (Nasdaq +2.8%, S&P 500 +2.5%) while China lagged (-0.7%). Gold climbed to $4,725/oz (+1.2%) on renewed safe-haven demand amid rising geopolitical tensions, while Brent crude held near $94 despite ongoing supply risks.
Today's Snapshot
- Nasdaq Composite: 22,017.85 (+2.80%)
- SSE Composite Index: 3,995.00 (-0.72%)
- S&P 500: 6,782.81 (+2.51%)
- Gold: $4,725.01/oz (+1.19%)
- Brent Crude: $94.75/bbl (-0.46%)
Global Markets
(A) Precious Metals
Gold: $4,725.01/oz (+1.19%)
Gold rose by 1.19% as geopolitical tensions increased safe-haven demand.
(B) Energy
Brent Crude: $94.75/bbl (-0.46%)
Oil prices fell as doubts over a fragile Middle East ceasefire increased concerns about supply disruptions. Continued attacks from Israel on Lebanon and uncertainty around peace talks raised the risk that oil flows through the Strait of Hormuz could remain restricted.
In addition, shipping activity has not fully resumed, as vessels await clearer guidance on safe passage, keeping supply risks elevated.
(C) FX
Dollar Index (DXY): 99.11 (+0.02%)
The dollar remained steady as Treasury yields held firm and investors awaited U.S. inflation data. Stable rate expectations supported the currency, with limited directional conviction due to mixed macro signals.
Stock Market — What Happened Today
United States
U.S. Equities
- Nasdaq Composite: 22,017.85 (+2.80%)
- S&P 500: 6,782.81 (+2.51%)
Major Movers
Kratos Defense & Security Solutions | NASDAQ: KTOS | +3.47% ▲
The stock rose after the company secured a U.S. Space Force contract worth up to $446.8 million to support the Resilient Missile Warning and Tracking program. This program focuses on building and maintaining the ground systems needed to operate missile warning and tracking satellites in medium Earth orbit.
Lockheed Martin | NYSE: LMT | +0.13% ▲
Gained after Jefferies raised its price target to $640, supported by a stable earnings outlook, though analysts noted limited upside due to elevated valuation. Analysts expect 2026 earnings per share of $29.80, slightly below market expectations.
China
SSE Composite Index: 3,995.00 (-0.72%)
The SSE Composite Index, which tracks China's domestic stock market, fell by 0.72% in morning trading as investors remained cautious.
Alibaba Group | NYSE: BABA | +4.36% ▲
Share prices fluctuated after Jefferies cut its price target to $116 from $123/share, citing increased spending on promoting its Qwen artificial intelligence platform, which is weighing on margins. The brokerage also flagged larger expected losses in Alibaba's non-core businesses.
Aluminum Corporation of China | HKEX: 2600 | +4.42% ▲
Rose after forecasting Q1 net profit of 5.30–5.59 billion yuan, up 50–58% YoY and slightly above market expectations, indicating strong earnings growth. The ongoing U.S.–Israel conflict involving Iran pushed aluminum prices higher by disrupting shipping through the Middle East.
Volatility & Positioning
VIX closed around 20.6, indicating cautious but stabilizing market conditions.
What Traders Are Watching
- U.S. inflation data — Critical for shaping Federal Reserve rate expectations and bond yields.
- Federal Reserve communication — Any shift in policy tone could drive equity and FX markets.
- Oil price stability — Geopolitical risks and supply dynamics will influence inflation expectations and energy stocks.
“Far more money has been lost by investors trying to anticipate corrections than lost in the corrections themselves.”
Yesterday's Market News – 08 April 2026
Markets turned risk-on as equities rallied sharply, while oil recorded its biggest drop in months following a U.S.–Iran ceasefire that eased immediate supply concerns.
Read full recap →Sources
- Reuters — Commodities — Gold steady as ceasefire eases geopolitical risk
- Reuters — Energy Markets — Oil drops on Iran ceasefire hopes, easing supply concerns
- Reuters — Currencies — Rupee rises as dollar weakens and oil prices fall
- Reuters — U.S. Markets — Nasdaq edges higher amid cautious trading
- Yahoo Finance — U.S. Stocks — Intel jumps on Terafab chip project announcement
- News.az — Asia Tech — SK hynix surges on Samsung's strong earnings outlook
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