TradingKey Daily Market Briefing: US-Iran Peace Talk Expectations and Easing Inflation Concerns Drive Risky Assets Higher. Nasdaq’s 10-Day Winning Streak, S&P 500 Nears New High, Bitcoin Breaks Through $76,000 Mark.

TradingKey - Expectations of a restart in US-Iran peace talks and US PPI data easing inflation concerns fueled a rebound in risk appetite. The S&P 500 rose 1.18% to 6,967.38, approaching the record high set in late January. The Nasdaq climbed nearly 1.96% to 23,639.083, marking its tenth consecutive winning session with a cumulative gain of over 12%. Meanwhile, Bitcoin (BTCUSD) briefly broke above the $76,000 mark before retreating.

The PHLX Semiconductor Index rose more than 2%, while the US memory chip index gained over 2.4%, with both continuing to hit new record highs. Meta rose over 4%, leading the gains among the Magnificent Seven. Chevron fell nearly 2.5%, ExxonMobil slumped as much as 3.8% before closing 2.23% lower, erasing all gains since the outbreak of the US-Iran conflict. Following bank earnings, Citigroup rose 2.61%, JPMorgan Chase fell 0.82%, Wells Fargo plummeted as much as 7% before closing down 5.7%.

Bitcoin pulled back after an initial surge, jumping nearly 4% to break $76,000 before retreating to $74,000.

Gold rose more than 2% to break above $4,800, while silver futures surged over 5% to approach $80. WTI crude oil futures fell 7.87% to $91.28 per barrel, and Brent crude futures dropped 4.6%.

Market Headlines

US inflation came in lower than expected across the board. In March, the PPI rose 4% year-over-year, marking a three-year high, while the month-over-month increase narrowed to 0.5%. Although short-term inflation anxiety has eased, medium-term concerns remain.

Trump stated that a second round of talks between the U.S. and Iran could take place in Pakistan within the next two days, while Iran is considering a brief suspension of shipping in the Strait of Hormuz to create space for negotiations. Trump said significant progress could be made in Islamabad within the next two days, adding, "We would prefer to go there." Multiple media outlets revealed that the U.S. and Iran are discussing a second round of negotiations, though a specific schedule has not yet been finalized; it may occur later this week or early next week. U.S. officials are scouting potential dates and locations, contingent on progress in ongoing talks between the U.S., Iran, and mediators over the coming days. Trump indicated he is willing to resume talks soon if he believes Iran is ready to accept U.S. demands. Meanwhile, according to media reports, Iran is weighing a temporary suspension of shipping activities in the Strait of Hormuz to avoid direct confrontation with the U.S. and to create room for a new round of peace talks. Suspending maritime activity for several days is seen as a pragmatic and feasible option to prevent accidental incidents from undermining fragile diplomatic efforts.

OpenAI is valued at $852 billion but is facing a crisis of trust. OpenAI is facing a severe test: its shares remain unsold in the secondary market even at a 10% discount, while competitor Anthropic has attracted $2 billion in buying interest, with the latter's enterprise revenue surging from $9 billion to $30 billion in just four months. Strategic vacillation has caused investor patience to wear thin, as the former AI star finds itself embroiled in a crisis of focus.

JPMorgan's Q1 revenue of $50.5 billion beat expectations, with trading activity hitting an all-time high and investment banking surging 38%. JPMorgan Chase reported a net profit of $16.5 billion for the first quarter of 2026, a 13% increase year-over-year, with earnings per share reaching $5.94, up 17% annually. Managed revenue reached $50.5 billion, an increase of approximately 10%. Within this, trading revenue hit a quarterly record of $11.6 billion, up 20% year-over-year, while investment banking revenue rose 38%.

Wells Fargo's first-quarter results missed expectations as net interest margins narrowed and private credit exposure sparked concern, sending shares down more than 7% intraday. Both net interest income and non-interest income for Wells Fargo missed expectations in the first quarter, with the net interest margin narrowing to 2.47%. The CFO warned that the margin could remain under pressure in the second quarter. Of the bank's $210.2 billion in total loans to non-bank financial institutions, approximately $36.2 billion was allocated to private credit firms, drawing investor scrutiny. Following the announcement, Wells Fargo's stock plunged more than 7% intraday, marking its largest drop in nearly a year.

Lagarde: Eurozone economy has fallen below the ECB's baseline scenario; currently no inclination to hike rates. European Central Bank President Christine Lagarde stated that the Eurozone is currently "between the baseline and the adverse scenario" (the latter of which projects peak inflation at 4.2%). She also denied that the ECB has a bias toward tightening monetary policy, stating that the core of the bank's guidance remains "price stability predicated on financial stability."

Top 10 Most Actively Traded Stocks

The following chart lists the ten most actively traded stocks in the market last Friday. Driven by massive trading volume and high liquidity, these assets have become key benchmarks for tracking global market dynamics.