Oil prices soared back above $100 per barrel today despite initial stabilization hopes. FT reported North Sea crude hit record highs as Iran maintained control over the Strait of Hormuz. The Washington-Tehran ceasefire failed to stem the global energy crunch.
Commodity traders lost billions in the early days of the Iran war according to a new report. Firms typically profiting from volatility got caught out by sudden energy price spikes. The conflict will leave a long-term scar on Wall Street with commodity prices and bond yields unlikely to return to pre-war levels quickly.
SYRE Spyre Therapeutics announced a $300M underwritten public offering tonight. The biotech suspended its ATM program after reporting $741M in cash as of March 31. The offering showed capital markets reopening for select healthcare names despite broader volatility.
UBS raised AMGN Amgen price target to $400 maintaining buy today. The $170B biotech attracted fresh conviction as defensive healthcare rotations accelerated.
BAC Bank of America kicks off Tuesday with Q1 results leading a packed financial calendar. Johnson & Johnson reports Monday as the healthcare titan faces margin scrutiny. Netflix delivers Wednesday after close with subscriber growth under focus.
F Ford CEO Farley called for blocking Chinese carmakers from US markets per Bloomberg reporting today. The comments escalated trade tensions as domestic automakers faced EV competition pressure.
European markets closed lower as the US Strait of Hormuz blockade began. Asian markets tumbled on renewed oil surge fears. UK retail investors shunned stocks during crucial ISA season amid geopolitical pessimism showing defensive positioning across regions.
ORTEX Market Intelligence content is generated by AI from a snapshot of ORTEX's proprietary data. Content is informational only and does not constitute investment advice.
