[U.S. Pre-Market] Ceasefire Agreement Extended Indefinitely, BTC Breaks 78,000 Mark, Brent Crude Futures Return to $100, Tesla Earnings Arriving Tonight

Market Movements

Major US stock index futures rise across the board

TradingKey - Ahead of Wednesday's US market open, futures for the three major US stock indices rose across the board, driven by the positive sentiment of Trump's announcement of an indefinite extension of the ceasefire agreement. As of press time, Nasdaq 100 futures gained 0.73% to 26,673 points; S&P 500 futures rose 0.56% to 7,103 points; and Dow Jones Industrial Average futures increased 0.5% to 49,395 points.

Bitcoin breaks $78,000, crypto stocks strengthen in pre-market trading

In US pre-market trading, Bitcoin ( BTC) rose by more than 2%, reclaiming the $78,000 mark and driving a collective rally in US cryptocurrency concept stocks. Among them, Coincheck Group ( CNCK) climbed nearly 8%, Strategy ( MSTR) rose over 6%, American Bitcoin ( ABTC) and Strive both rose by more than 5%, while Coinbase ( COIN) and Bit Digital ( BTBT) also recorded gains of over 4%.

Bitcoin price chart, Source: TradingView

US memory chip stocks rise broadly in pre-market trading

US-listed memory chip stocks generally climbed in pre-market trading. Among them, Seagate Technology ( STX) rose over 3%, Western Digital ( WDC) gained more than 2%, while Micron Technology ( MU ), SanDisk ( SNDK ), and Rambus ( RMBS) all rose by more than 1%.

Adobe shares rise on $25 billion buyback plan incentive

Ahead of Wednesday's open, Adobe Inc ( ADBE) shares climbed nearly 3% to $254.38. On the news front, the company announced a share buyback program of up to $25 billion, which is expected to continue until April 2030. This Monday, Adobe released a series of AI agent tools designed to help enterprise customers automate digital marketing, addressing intensified competition from startups such as Anthropic.

Ceasefire agreement extended indefinitely, commodities rise broadly

Trump announced the indefinite extension of the ceasefire agreement, driving a broad rebound in commodities. Spot gold ( XAUUSD) rose 0.7% to $4,753; silver ( XAGUSD) climbed 1.89% to $78.06. The crude oil market showed strength, gaining nearly 2%, with Brent crude futures returning to the $100/barrel mark and WTI crude futures successfully reclaiming $90/barrel.

Market News

Three vessels attacked in the Strait of Hormuz

Three incidents of vessel attacks occurred near the Strait of Hormuz on Wednesday. According to Iranian state media, the paramilitary Islamic Revolutionary Guard Corps (IRGC) attacked a third vessel within the strait, stating the ship ran "aground" near the Iranian coast. The United Kingdom Maritime Trade Operations (UKMTO), a shipping monitoring agency, noted that shortly after the IRGC attacked the first vessel in the region, another container ship was also targeted. Iranian state media subsequently claimed that the IRGC had seized both vessels.

ExxonMobil reportedly considering sale of Hong Kong gas station business

According to three people familiar with the matter, energy giant ExxonMobil ( XOM) is considering the sale of its gas station business in Hong Kong, with the transaction expected to reach hundreds of millions of dollars. Sources said the company has hired financial advisors and has begun talks with a few bidders; those involved requested anonymity as the information is confidential. Bloomberg reported on Wednesday that ExxonMobil may target a valuation of between $500 million and $600 million for these assets.

OpenAI reportedly partners with private equity to establish DeployCo

According to people familiar with the matter, AI company OpenAI plans to invest up to $1.5 billion into a new joint venture formed with a private equity firm. Reports indicate that OpenAI will initially provide $500 million in equity investment for the venture, internally codenamed "DeployCo." DeployCo is expected to complete a new round of financing in early May, at which point its valuation could reach $10 billion.

Coinbase moves New York prediction market lawsuit to federal court

On April 22, Coinbase Chief Legal Officer Paul Grewal stated that the company has moved the lawsuit filed by New York Attorney General Letitia James regarding its prediction market business from state court to federal court, citing that the case involves disputes at the federal law level. The day before (Tuesday), the New York Attorney General officially sued Coinbase, alleging that its prediction market business constitutes "illegal gambling" and is seeking at least $2.2 billion in damages from the company.

Key Data/Events Preview

Eurozone April Preliminary Consumer Confidence Index

US EIA Crude Oil Inventories for the week ending April 17 (10,000 barrels)

ECB President Lagarde Delivers a Speech

Tesla ( TSLA) Reports Earnings After the US Market Close