TradingKey Daily Market Briefing: Iran Rejects Ceasefire Proposal, Three Major US Stock Indexes Recover Losses After Diving, US Spot Oil Closes at New Near Four-Year High

TradingKey - On April 6 ET, Iran rejected the truce agreement proposed by Trump. Subsequently, U.S. President Trump remarked on U.S.-Israeli military operations against Iran, stating, "Iran can be taken down overnight, and that night could be Tuesday night (April 7, ET)."

Affected by this, the three major U.S. stock indices turned lower as Treasury yields and oil prices both rose, sparking intense intraday volatility followed by a strong rally. In the afternoon, Trump affirmed Iran's willingness to negotiate, leading the three major indices to close higher and hit a more than two-week high.

Individual stocks showed marked divergence: the memory chip sector sustained its momentum, led by SanDisk and Micron, while the private credit sector faced pressure, with Blue Owl's share price hitting a record low.

Bitcoin briefly broke through the $70,000 mark during the session, while crude oil turned positive after an intraday drop of 2%. Spot gold fell 0.54% to $4,651.24 per ounce, and spot silver declined 0.23% to $72.8569 per ounce.

Market Headlines

Trump stated that Iran's response to the ceasefire remains unsatisfactory, asserting that the U.S. will "take the oil," the April 7 deadline will not change, and the U.S. should charge "tolls" for the Strait of Hormuz. He noted that while Iran's proposal has some merit, it falls far short of requirements; if Iran does not compromise, it will have "nothing." He reiterated that Iran will never be allowed to possess nuclear weapons and remarked, regarding Iranian oil, that "to the victor belong the spoils." Trump threatened that the U.S. could crush Iran on the night of April 7; if the Iranian side does not "surrender" by 8:00 p.m. that evening, the U.S. military will strike its civilian infrastructure, claiming it would take only four hours to destroy Iran's power plants and bridges. According to reports, the 45-day ceasefire agreement proposed by the U.S., which Iran previously rejected, was just one of many options under discussion, and U.S. military operations against Iran are ongoing. Meanwhile, U.S. officials believe Iran's response to the U.S. proposal contains "excessive demands."

Samsung Electronics expects its operating profit for the first quarter of this year to surge 755% year-on-year to 57.2 trillion won, with single-quarter earnings already exceeding the total for all of last year. This performance is more than eight times that of the same period last year, far exceeding market expectations and setting a new record. The core driving force behind it is the explosive growth in demand for AI and data centers.

Shares of Blue Owl, the company at the center of the private credit storm, hit an all-time low. Blue Owl's shares fell 1.4% on Monday to close at $8.45, a record low that fell below its previous bottom set in late 2022. Last Thursday, the company announced it would limit redemptions for two of its private credit funds following a surge in withdrawal requests, which sent the stock to an intraday record low that day.

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