Your Evening Briefing

April 07, 2026

Stocks eke out gain ahead of tonight’s deadline for Iran to reopen the Strait of Hormuz

The S&P 500 and Nasdaq 100 eked out gains in the final minutes of trading, continuing their five-day winning streaks, while the Russell 2000 rose as well. Stocks pared steeper losses as a few reports gave investors a glimmer of hope that negotiations could progress.

US President Donald Trump has previously pledged that if a deal to end the conflict that includes the reopening of the Strait of Hormuz is not reached by tonight at 8 p.m. ET, the US will attack Iran's power plants and bridges.

Stocks that moved higher:

Health care companies UnitedHealthcare, Alignment Healthcare, Humana, Oscar Health, Centene, CVS Health, and Elevance Health jumped after Monday’s news that Medicare agreed to pay 2.48% more in 2027, a bigger than expected boost.
Broadcom jumped on yesterday’s news that Google is doubling down on the custom chip specialist’s ability to produce its most valuable commodity.
Intel ticked higher on news that it will join Elon Musk’s Terafab project.
Paramount Skydance surged amid bullish options activity after yesterday’s report that three Gulf sovereign wealth funds would back Paramount’s offer for WBD to the tune of $24 billion.
Palo Alto Networks and CrowdStrike gained after Anthropic gave the cybersecurity firms access to its new model to help defend against attacks.
Universal Music Group soared after Bill Ackman’s Pershing Square Capital offered a deal to combine the world’s largest music company with Pershing Square SPARC Holdings.

Moving lower:

Apple dropped after Nikkei Asia reported said that foldable iPhone may be delayed by engineering troubles, though the stock pared steeper losses after Bloomberg’s Mark Gurman reported that sources within Apple say the foldable iPhone is still on track to launch in September.
Aave dropped on yesterday’s news that Chaos Labs is stepping down as a risk manager for the Aave DAO.

Samsung’s massive Q1 fails to lift Sandisk

Korean chip giant Samsung Electronics reported preliminary Q1 results showing operating profit up by 755% compared to Q1 2025, trouncing pretty elevated expectations for a gain of about 550%. Read more.

Anthropic boasts revenue run rate of $30 billion as the Claude developer expands its partnership with Google and Broadcom

Anthropic’s revenue run rate is higher than the trailing 12-month revenues of all but 129 S&P 500 companies.

Read more.

The FBI revealed in a Monday press release that Americans submitted 181,565 complaints of schemes involving cryptocurrency and reported losses totaling around $11.4 billion last year, a 22% increase from 2024. Read more.

Delta to increase bag fees by $10 on domestic flights this week, following JetBlue and United, as jet fuel surges
When one major airline makes a change to its fees, others tend to follow.
Bezos poaches xAI cofounder from OpenAI for his Project Prometheus startup
The competition among AI startups for poaching top talent has a new contender.
Bloomberg analyst outlines all the reasons he’s sticking with his call that bitcoin will crater to $10,000
His one caveat: if it can hold the $75,000 level, bitcoin bulls may “prove him wrong.” Other experts called his prediction an “attention-grabbing extreme” and “almost unimaginable.”

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