Summary:Fire broke out in La Boca near the Bridge of the Americas and fuel-linked facilities Bridge traffic was suspended while authorities assessed structural safety One person was reported missing and two firefighters were injured Preliminary reports indicate the blaze began in a fuel tanker and spread Incident occurred beside the Pacific entrance area of the Panama Canal Canal matters more right now because Iran tensions have already been reshaping shipping flows No official confirmation yet of canal damage or transit suspension from this fire No verified evidence so far linking the incident to Iran or sabotageAn explosion and fire at fuel-related facilities near the Bridge of the Americas in Panama has drawn market attention because of its location at the Pacific entrance to the Panama Canal, even though there is, for now, no official confirmation that canal transit operations themselves were damaged or suspended by the incident. Local reporting said the blaze broke out in La Boca, near installations linked to fuel treatment and storage, and forced the temporary closure of the bridge while authorities assessed safety risks. Officials said the crossing would remain shut until technical inspections confirmed it was safe to reopen. According to preliminary information cited by La Prensa, one person was reported missing and two firefighters suffered second-degree burns. The report also said fuel tanker trucks were affected during the emergency, with one account from fire officials indicating the blaze began in a tanker and spread rapidly to another while a third truck was being loaded with fuel. More than 50 firefighters were involved in containing the fire. The immediate significance for markets is the location. The Bridge of the Americas sits beside one of the world’s most strategically important shipping chokepoints, and the Panama Canal has taken on added relevance in recent weeks as the Iran conflict has started to reshape global energy and tanker routes. Reuters reported in March that some U.S. crude cargoes were being redirected to Asia via the Panama Canal as Hormuz-related tensions altered trade flows, while the canal authority also reported stronger tanker transits earlier this year. That does not mean the fire was connected to Iran, sabotage, or a broader geopolitical operation. At this stage, the verified reporting points to an industrial fire involving fuel tankers and nearby fuel installations rather than a confirmed attack. Just as importantly, I am not seeing an official Panama Canal Authority traffic advisory specifically tying this incident to canal transit disruption on its current shipping-advisory page. Still, because the incident occurred next to canal-linked infrastructure and amid a period of elevated sensitivity around global shipping routes, the story matters beyond local traffic disruption. If follow-up reporting were to show damage extending into canal operations, fuel handling, or vessel movements near the Pacific entrance, markets would likely treat it as more than a localised accident. For now, though, the evidence supports a fuel-terminal fire near a critical logistics corridor, not a confirmed hit on the canal itself. This article was written by Eamonn Sheridan at investinglive.com.

Morgan Stanley’s Wilson said on Monday that the US stock market correction is largely done, with rates, not war, the final hurdle before equities resume higher.Summary:Wilson sees current weakness as a late-stage correction within an ongoing bull market S&P 500 forward P/E down ~18%, a rare reset outside recession/tightening cycles Earnings growth accelerating, not deteriorating, which is a key divergence vs past oil shocks Breadth damage severe, with >50% of stocks down 20%+, suggesting late-cycle correction Support at 6300–6500 held; downside risk seen as limited absent rate shock Prefers barbell: cyclicals (financials, industrials, discretionary) + hyperscaler growth Main risk is rates and policy, with 4.5% US 10Y a key valuation threshold Tighter conditions could trigger eventual dovish central bank pivotMorgan Stanley CIO and Chief U.S. Equity Strategist Mike Wilson argues that the recent equity drawdown should be viewed as a late-stage correction within an ongoing bull market, rather than the start of a broader downturn.Wilson maintains that the current bull cycle began in April last year, following what he describes as a “rolling recession” spanning 2022 to 2025. Despite multiple headwinds, including geopolitical tensions in the Middle East, persistent conflict in Ukraine, concerns around private credit, and disruption from artificial intelligence, the broader recovery trend in equities remains intact.He highlights that markets have already undergone a meaningful reset. The S&P 500 Index forward price-to-earnings multiple has declined by around 18%, a magnitude typically associated with recessions or aggressive central bank tightening cycles. Wilson notes that neither condition appears likely at present. At the same time, earnings growth is not deteriorating, in fact, it is accelerating to multi-year highs, marking a key divergence from prior oil-shock episodes that tipped economies into recession.Beneath the index level, the correction has been more severe. Over half of stocks have fallen at least 20% from their peaks, with many down 30–40%. Such broad-based drawdowns are historically more consistent with late-cycle corrections than early-stage declines, suggesting the market may be approaching a bottoming phase.Technically, Wilson points to the S&P 500 finding support in the 6300–6500 range, a zone that held during last week’s rebound. While a retest remains possible, particularly if bond yields rise further or geopolitical risks intensify, he does not expect a sustained breakdown. Instead, he sees scope for additional “clearing” in crowded areas of the market, particularly semiconductors and memory stocks, where positioning remains elevated. A further unwind in these trades could help solidify a durable low.From a positioning standpoint, Wilson advocates a barbell strategy. On one side, he favours cyclical sectors such as financials, industrials, and consumer discretionary, where earnings momentum remains robust and valuations have compressed. Recent labour market strength, highlighted by a sizeable gain in private payrolls, reinforces the view that the economic recovery remains intact.On the other side, he sees opportunity in large-cap growth, particularly hyperscale technology companies. These firms are now trading at valuation multiples comparable to defensive sectors like consumer staples, despite delivering significantly stronger earnings growth. Sentiment and positioning in these names have deteriorated to levels last seen during the 2022 bear market, creating what he views as an attractive risk-reward setup.Looking ahead, Wilson identifies interest rates and central bank policy, not geopolitics, as the primary risk to equities. He notes that markets have shifted back into a regime where stocks and bond yields are negatively correlated, meaning higher yields weigh on valuations. A 4.5% level on the U.S. 10-year Treasury is flagged as a key threshold beyond which equity valuations could face renewed pressure.However, tighter financial conditions, driven by rising yields and elevated bond volatility, may ultimately prompt a more dovish response from central banks. Wilson argues that policymakers retain flexibility and have demonstrated a willingness to ease conditions if tightening becomes excessive.In his view, markets have already priced in a wide range of risks, including geopolitical escalation, private credit concerns, and potential downsides from AI adoption. The remaining hurdle lies in navigating interest rate levels, policy expectations, and volatility. Once these factors stabilise, he expects a clearer path forward for equities. This article was written by Eamonn Sheridan at investinglive.com.

The major U.S. indices are closing higher, with markets increasingly pricing in the possibility of a resolution to the Iran conflict. The tone was supported by cautious optimism, even as geopolitical risks remain elevated.President Trump set a hard deadline, warning that the U.S. could target bridges and energy infrastructure starting at 8 PM ET tomorrow if the Strait of Hormuz is not reopened and/ or broader agreements are not reached. That backdrop is keeping volatility in play, even as equities push higher.A snapshot of the closing levels shows:Dow Jones Industrial Average: +165.21 points (+0.36%) to 46,669.88S&P 500: +29.14 points (+0.44%) to 6,611.83NASDAQ: +117.16 points (+0.54%) to 21,996.34Below is a look at some of the top gainers and losers on the day.Here's the full sector summary with the complete picture:Storage & Semiconductors — The most consistent winning sector today. SanDisk (+3.28%), Micron (+3.15%), and Western Digital (+3.11%) all moved in lockstep, strongly suggesting a sector-wide catalyst — possibly positive supply chain news or easing of trade concerns around memory chips. Nebius NV (+3.42%), an AI infrastructure play, added further weight to the hardware theme.Crypto & Crypto-adjacent — A strong day across the board. Bitcoin Futures hit $69,977 (+3.32%), Grayscale Bitcoin (GBTC) gained 4.08%, and Strategy (MSTR) — which holds Bitcoin on its balance sheet — jumped 6.56%. Clearly crypto sentiment was elevated.AdTech / AI — Applovin (APP) was the single biggest mover of the day at +6.81%, continuing its remarkable run. This appears to be stock-specific momentum rather than a broad sector move.Consumer & Food — A split picture. Booking Holdings (+5.02%) and Shake Shack (+3.41%) both had strong sessions, while Celsius (+6.04%) rebounded sharply. On the losing side, GameStop (-1.20%) and Roblox (-4.83%) dragged consumer/entertainment names lower.Biotech & Pharma — Clearly under pressure. Biogen (-2.82%) and Pfizer (-1.69%) both declined with no names from the sector appearing on the gainers list, pointing to broad sector rotation out of healthcare.Cloud & Enterprise Software — Weak. Snowflake (-1.66%) and Intuit (-1.22%) both slid, while Ciena Corp (-3.03%) — networking hardware for data centers — saw significant selling, potentially on margin or demand concerns.EV & Auto — Tesla (-2.15%) continued to face headwinds, likely tied to ongoing demand and brand perception concerns that have weighed on the stock in recent months.Airlines & Commodities — Mild but notable losses. United Airlines (-1.36%) and Barrick Mining (-1.34%) both pulled back modestly, hinting at some risk-off rotation in macro-sensitive names. This article was written by Greg Michalowski at investinglive.com.

A low-key sort of session ahead for incoming data. None of this is likely to move markets too much upon release. Asia will be holding its breath ahead of the latest Trump war deadline:Trump extends Iran deadline to Tuesday, aggressively threatens power grid destructionTrump: Tuesday Iran deadline is 'final deadline' This article was written by Eamonn Sheridan at investinglive.com.

The GBPUSD is trading higher on the day, but upside momentum has stalled against a key technical barrier. The high price tested the falling 200-hour moving average (near 1.3262), briefly poking above it before rotating lower—a sign that sellers are still defending that level.The subsequent move down pushed the pair below the 100-hour moving average (1.3239), but downside momentum faded near a swing support area between 1.3217 and 1.3229 in confined trading today. That floor held, and the pair has since bounced modestly, now trading back near the 100-hour MA—keeping the short-term bias more neutral and range-bound.As we head into the close and the new trading day, the roadmap is clear: For buyers to take control, the price needs to get and stay above both the 100- and 200-hour MAs A break above the 200-hour MA (1.3262) would open the door toward the 38.2% retracement at 1.3281 and the 50% midpoint at 1.3319 of the move down from the March 23 high On the downside: A break below 1.3217 would shift the bias back to sellers That would target the next support zone at 1.3171–1.3181, followed by last week’s low at 1.3159 A move below that low would take the pair to its weakest level since November 2025, with the next major target near 1.3000Bottom line: The pair is stuck between key moving averages, with sellers still leaning near the 200-hour MA. Buyers need a clean break higher to regain control, while a move below support would reignite the broader downtrend. This article was written by Greg Michalowski at investinglive.com.

The EURUSD moved higher during the Asian and early European sessions, breaking above both its 100- and 200-hour moving averages—a shift that tilted the short-term bias more bullish. The pair extended to a high near 1.15549, pushing above a key swing area before encountering sellers.Since that high, the corrective move lower has been orderly, with price holding support near the 200-hour moving average (currently ~1.1533). The 100-hour MA (1.1549) is also in play, creating a tight technical cluster that now acts as a near-term battleground heading into the close and the next trading session.From here, the levels are well defined: A break below the 200-hour MA (1.1533) would shift the short-term bias back to the sellers A move back above the swing high near 1.1555, and then today’s peak around 1.1571, would give buyers momentum for another upside push On the downside, further support comes in at the swing area between 1.1484 and 1.1491. A break below that zone would target a rising trendline near 1.1459 (and moving higher).On the topside, if buyers can extend above 1.1571, the next key target is the 38.2% retracement of the move down from the February 10 high at 1.1606—a level that would signal a more meaningful shift in control.Bottom line: The pair is at a technical inflection point, with price wedged between key moving averages and recent highs. Let the break dictate the bias—a move below 1.1533 favors sellers, while a break above **1.1555–1.1571 opens the door for further upside toward 1.1606. This article was written by Greg Michalowski at investinglive.com.

As the Pres. starts the press conference:2 year yield 3.852%10 year yield 4.332%S&P up 14.25 points or 0.21%Nasdaq up 47 points or 0.23%Dow +61 pointsCrude oil $112.76Gold $4658Silver $72.55Bitcoin $69,647EURUSD 1.1538USDJPY 159.76GBPUSD 1.3222Headlines from the Press conference:The entire country can be taken out in one night and the one night may be tomorrow nightWe leave no American behind. We don't do it.Trump is recounting the rescue operation of the downed soldier in Iran (and repeating himself) Oil is up to $113.77 on the comment about Iran being taken out in one night. Stocks are modestly lower.. The CIA director commended the Pres. for the rescue and the courage to leave no man behind.Hegseth says:Today will be largest volume of strikes since Day 1 of Iran operation. Tomorrow will be even moreMeanwhile, Reuters is reporting two Qatar LNG tankers headed toward the Strait of Hormuz on Monday morning were among those Iran allowed to transit under Iran – US agreement reached last week.IRGC stopped Qatar tankers before transit and ordered them to hold position without explanationIN a separate report:Iran Foreign Minister, in call with Qatari counterpart, says Iran is interested in developing ties; says that the current situation is strictly due to US-Israel aggressionAfter the recount and the platitudes for Trump, it is assumed that Trump will take questions from the press.Comments from Q&A:Iranians should rise up against regime.But the consequences are greatIranians to protest will be immediately shot and killedWe have regime change.Not everyone was onboard for the military operation.Going through hundreds of thousands of soldiersHundreds of people could have killed.Thinks talks are going well with Iran.I hope I do not have to do it when asked about bombing power plants and bridgesWe think Iran is negotiating in good faith.Reopening the Strait of Hormuz is a big priority.The biggest problem is Iran has no means of communicatingVery disappointed in NATO.We have a concept where we will charge tolls We have to have a deal that is acceptable to me, and part is free traffic in the Strait of HormuzEvery bridge and powerplant wil lbe decimated over a 4-hour period tomorrow.He does not want to destroy their infrastructure. It would take 100 year to rebuild their infrastructure.NATO is a paper-TigerAt the end of the speech:2 year yield 3.841%10 year yield 4.322%S&P up 23.02 points or 0.35%Nasdaq up 101.3 points or 0.46%Dow 128 pointsCrude oil $112.17Gold $4660Silver $73.03Bitcoin $69,844EURUSD 1.1546USDJPY 159.65GBPUSD 132.35 Overall, the threat remains. The "out" where a deal can be made that avoids the bombing. Oil moved higher to $114.29, but rotated back to the downside. Yields were little changed with a tilt to the downside by about 1 basis point. Stocks moved higher. The US dollar moved mostly lower by the 10-15 pips versus the EUR, JPY and GBP This article was written by Greg Michalowski at investinglive.com.

Axios reporter Barak Ravid said Trump on and Netanyahu held a call on Sunday night:Israeli prime minister Netanyahu urged Trump in a call on Sunday not to go for a ceasefire at the moment and expressed concern about the riskes of such a move, an Israeli official saidTrump reportedly circled the importance of nuclear, something he said today was the goal of the war:Trump told Netanyahu that if Iran agrees to the U.S. demands a ceasefire could happen, but stressed he won't give up on his demand that Iran hand over all of its enriched Uranium and agree not to resume enrichment, according to the Israeli officialSeparately, Amichai Stein from the Jerusalem Post writes:Two Israeli officials, as well as diplomats familiar with the details of the talks, tell me: there is a very low chance of an agreement between Iran and the United States.Trump is beginning his press conference now so expect more headlines over the next hour. This article was written by Adam Button at investinglive.com.

The US stock market is higher today but there's one major exception: Tesla shares are down 2.6% in the second day of selling.Shares sank 5% on Thursday after the company reported Q1 deliveries of 358K compared to 372K expected. There was a moderate rebound at the open today but that reversed despite a positive tape elsewhere.Shares of the company remain extremely expensive by any traditional metric. They're trading at a 325x trailing multiple after earning $1.08 per share last year. On a forward consensus basis, they're trading at 170x, though the estimates might nudge down after Thursday's numbers.The market cap of the company is $1.32 trillion on revenue of $94.8 billion so that's a trailing price-to-sales ratio of 13.9x and it's unlikely to improve meaningfully this year.Essentially, the cult-like shareholders of Tesla are betting on Elon Musk to make a breakthrough in one or all of:Self-driving taxisRobots via OptimusRevolutionizing truckingA resurgence in demand for electric vehiclesIt's a huge valuation for technologies that are unproven or a long ways away but the market believes (for now) that if anyone can do it, Musk can.A looming problem for TSLA shareholders is the IPO of SpaceX. Musk's other company is the flavor of the moment and that's where his bets on space, artificial intelligence and social media are located. The company is reportedly targeting a valuation of $1.75-$2 trillion.That's an incredible number of a money-losing company and with Starlink only posting about $10 billion in revenue last year.For Tesla, the problem is that the retail cult of Musk could sell some TSLA shares in order to buy into shares of SpaceX. Essentially, the buying public could be divided and that could weigh directly on Tesla. Notably, Musk himself will have a controlling stake in SpaceX but doesn't in Tesla. That dynamic could lead him to focus more on his newer company.In terms of technicals, shares of TSLA have erased the September rally now and are back to late-2021 levels. There is also a big potential double top on the chart. Given the lack of support from valuation, I don't see a floor anywhere close to here.Meanwhile, JPMorgan out with a fresh note trimming their estimates after Q1 deliveries came in light. They note that it wasn't just the auto side as energy storage, which has been one of the bull case pillars, dropped 15% year-over-year at 8.8 GWh. JPMorgan is keeping their Underweight with a $145 target, which implies roughly 60% downside to where we're trading now. Their core argument hasn't changed: the stock is pricing in earnings power that's years away and far from guaranteed. We'll see if dip buyers step in, but JPMorgan is basically saying: don't be that person. This article was written by Adam Button at investinglive.com.

The AUDUSD and NZDUSD often move together, but technically they are telling different stories right now.For the AUDUSD, the pair moved lower at the end of March and approached its rising 100-day moving average (0.6833), but held above that level and rebounded. Last week, price action was choppy, trading above and below the 100- and 200-hour moving averages, before ultimately closing below both. In today’s session, the pair has pushed back above those short-term MAs, tilting the bias more bullish in the near term.However, the rally stalled ahead of key resistance, including a swing area between 0.6938 and 0.6962, and the 38.2% retracement at 0.6968. Sellers leaned against the lower end of that zone, pushing the price back down toward the 100-hour MA (0.6906) and 200-hour MA (0.6900 area). A break below 0.6900 with momentum would open the door for further downside. Until then, buyers remain in play—but they need to break through those resistance targets to take back more control.In contrast, the NZDUSD remains more bearish technically. The pair broke below its 100-day moving average on March 25 and extended lower, reaching its weakest levels since late March before bouncing modestly. Today’s rebound saw the price test the 100-hour MA (0.5723), but momentum faded against a downward-sloping trendline and ahead of the 200-hour MA (0.5740).To shift the bias, buyers need to get above and stay above both the trendline and 200-hour MA. Without that, sellers remain firmly in control—both from a longer-term perspective (below the 100- and 200-day MAs) and in the short term (below the 100- and 200-hour MAs).Bottom line: The AUDUSD is showing early signs of stabilization with buyers trying to regain control, while the NZDUSD remains technically weaker, with rallies still being sold. This article was written by Greg Michalowski at investinglive.com.

Trump has extended the deadline to strike Iran's infrastructure three times and now he says the Tuesday at 8 pm ET deadline is the final one. I'm not sure that statement carries much credibility in markets but time will tell.Trump also said that the war could end 'very quickly' if if Iran "does the things it needs to do". He also said the people negotiating are reasonable and not as radicalized.In terms of goals, he seems to be shifting on those once again and saying that the war is about one-thing: Iran cannot have a nuclear weapon.That does seem to be an area where Iran is willing to give ground so we will see how this goes. Trump also said that "if I had my choice, I would take the oil" but that American people want to see us come home. He added that he'd like to see "us win and come home."Trump also said that the latest Iran proposal was a big step but not good enough.The headline here isn't great for risk but all the context is positive as it continues to sound like he wants to make a deal.In terms of the report about Trump arming insurgents, he said that the guns were supposed to go to protesters but a certain group of people just kept them. He said he's upset about that and there will be a big price for that.It's speculated these were either Kurds or some ISIS fighters that were removed from Syria.As Trump continued he said the US could leave 'right now' but that he wants to 'finish it up' and that 'hopefully it will be over quickly'.Update: Trump is again doing the rounds so it's hard to imagine in the 1 pm speech there will be anything new:Trump says that striking Iran's infrastructure wouldn't be a war crime "because they are animals"I've given them chances and they haven't taken themIran would like to have a ceasefire because they're getting obliteratedIt's 'highly unlikely' he will extend deadlineWe got regime change, they are more moderateMeanwhile, CNN reports that roughly half of Iran's missile launchers are still intact and thousands of one-way attack drones remain in Iran's arsenal despite US and Israeli strikes against military targets. This article was written by Adam Button at investinglive.com.

IRNA reports that Iran has relayed its rejection of a ceasefire plan.The message from Tehran has been consistent, they want a permanent end to the war with security guarantees and compensation, not a temporary ceasefire. They say they've been attacked during negotiations before and want everything settled before unblocking Hormuz."That's not surprising," said former US national security advisor Mark Esper. "I don't see a ceasefire coming, the sides are too far apart."Of course, there are 'demands' in the media and then real negotiations. Many wars have ended surprisingly and suddenly due to negotiations that weren't done in public.Axios now reports that Iran sent a 10-point response to the proposal to end the war but it was also described as 'maximalist' and makes it unclear if it will allow for a diplomatic solution.WTI crude oil is down 31-cents to $111.18. The S&P 500 is up 13 points, or 0.2%, to 6593.The main event today is Trump's 1 pm speech. In general, he's usually less hawkish live than via social media and it will certainly be tough to sound as unhinged as his Easter post yesterday. That said, the market was betting he would tone down the rhetoric in last week's live speech and that wasn't the case, leaving to a big jump in oil prices and a fall in stock markets.So it's fair to say that the market prices in something less hawkish live and we will have to see where it lands. With Iran rejecting the ultimatum, he's backed himself into a bit of a corner on attacking infrastructure and my guess is that he continues to escalate. At that point, we will see if Iran is capable of retaliating and if we get to a point where Iran and gulf oil infrastructure is badly damaged, then oil prices have nowhere to go but up. Even if it's just Iran's oil industry that's broken, that would leave a notable gap in global supply capable of sustaining +$150 oil this year and perhaps beyond. This article was written by Adam Button at investinglive.com.

Sector OverviewThe US stock market saw a vibrant momentum today, largely driven by robust performances in the technology and financial sectors. The technology sector showed remarkable resilience with notable gains from giants like Apple (AAPL), which soared by an impressive 2.41%. Supported by consistent demand for hardware innovations, Apple demonstrated its market dominance and renewed investor confidence.Meanwhile, the financial sector remained steady with a positive outlook. Leading the charge were major banks including JPMorgan Chase (JPM) up by 0.71% and Bank of America (BAC) with a climb of 1.36%. Financials continue to benefit from stable interest rate expectations and overall economic recovery.Market Mood and TrendsToday’s market sentiment was largely positive with investors expressing optimism in select sectors. The upward momentum in tech stocks, alongside a stable financial landscape, indicates a balanced market approach. Semiconductor stocks like Micron Technology (MU) up by 3.46% were exceptional performers, reflecting revitalized interest in this high-demand area.However, the consumer cyclicals sector displayed mixed performances. While Amazon (AMZN) gained 1.35%, supported by strong retail activity, Tesla (TSLA) experienced a minor dip of 0.39%, potentially impacted by volatility in the auto industry.Strategic RecommendationsFor investors seeking to capitalize on today’s trends, maintaining a portfolio with exposure to thriving tech stocks appears advantageous, especially those within hardware and semiconductor arenas. Apple’s growing momentum and Micron’s significant gains suggest promising opportunities within these sub-sectors.Similarly, steady investments in the financial sector could serve as a safeguard against future market uncertainties, with stable growth prospects in banking and credit services. Additionally, closely monitoring indices like the S&P 500 and Nasdaq for upcoming corporate earnings could provide strategic entry points for well-timed investments.Stay informed and continue following InvestingLive.com for real-time updates and strategic insights to maximize opportunities in today’s dynamic market landscape. ?? This article was written by Itai Levitan at investinglive.com.

The broader S&P and NASDAQ indices are trading higher to start the new week, with the S&P up 0.36% and the NASDAQ up 0.50%. The early gains are helping both indices move back above their 100-hour moving averages, which were broken late Thursday ahead of the Good Friday holiday. Those levels—6563.31 for the S&P and 21804.13 for the NASDAQ—now serve as key short-term support. Holding above them keeps buyers in control near-term and gives the rally a stronger footing.That said, while the bounce is constructive, buyers still have work to do to shift the broader bias. The sellers continue to hold the upper hand unless the market can reclaim more meaningful resistance levels.For the S&P, the next major target is the 200-day moving average at 6647.67, a level the index has remained below since March 18. A move back above that level—especially on a closing basis—would be an important technical win for buyers and could open the door toward the 200-hour moving average near 6686.06 (and falling).For the NASDAQ, the immediate upside target is the 200-hour moving average at 22221.47, which has capped rallies since early February. A break above that level would shift momentum more firmly in favor of buyers and bring the 50% retracement of the move down from the January 28 high at 22339.26 into focus. Just above that sits the 200-day moving average at 22351.80, another key level the index has traded below since March 18.Bottom line: The move higher is encouraging, but holding above the 100-hour MAs is just step one. Buyers need to reclaim the 200-day and 200-hour levels to take back control, while failure to do so keeps the broader bias tilted in favor of sellers. This article was written by Greg Michalowski at investinglive.com.

Business activity index 53.9 vs 59.9 prior Employment 45.2 vs 51.8 prior New orders 60.6 vs 58.6 prior-- two year highPrices paid 70.7 vs 63.0 prior -- highest in three-and-a-half yearsSupplier deliveries 56.2 vs 53.9 prior Inventories 54.8 vs 56.4 prior Backlog of orders 53.6 vs 55.9 prior New export orders 50.7 vs 57.2 prior Imports 55.2 vs 51.8 prior Inventory sentiment 54.3 vs 55.3 priorFrom the chart, you can see the trajectory of this survey before the start of the war.This index has been above 50 for 20 consecutive months and is one of the better-looking economic indicators in the US. Lately, it's creeped back into the pre-covid range of 55-60 as companies benefit from tax breaks, rate cuts and deregulation. The removal of tariffs could also have helped boost sentiment but those mostly applied to goods. It's not yet clear how the reversal of energy prices higher is going to impact business sentiment but this isn't a good sign.Comments in the report:“Tariff rollbacks are resulting in favorable price adjustments, but the news of new implementation is driving continued uncertainty. Snowstorms last month disrupted demand and supplier operations, mostly around the availability of labor. Forecasted seasonal growth is starting to materialize due to daylight savings time and higher temperatures.” [Accommodation & Food Services]“Transportation disruptions in the Middle East are inhibiting both incoming and outgoing cargoes from the region. While force majeure has been received from several Middle Eastern suppliers, business operations are generally at normal levels and no interruptions, except shipping.” [Construction]“We are still in cost cutting and operational streamlining mode as technology continues to advance. We have seen more concessions regarding passing through tariff surcharges. We continue to closely monitor the political situation in the Middle East and how ramifications could impact our supply chain and overall costs.” [Finance & Insurance]“As we close out the first quarter, demand for AI computer infrastructure remains incredibly resilient. Customers have opened their 2026 capital budgets, leading to a strong refresh in new order intake. Operationally, our focus has shifted toward efficiency and margin protection.” [Information]“Political uncertainty with Iran conflict has resulted in less international business. Domestic business remains consistent with January and February levels.” [Mining]“We’re seeing some expansion across the services economy with stronger business activity and new orders. Clients remain active on regulatory, tax planning, and risk management initiatives, though persistent pricing pressures and evolving economic conditions continue to shape project prioritization and budgeting.” [Professional, Scientific & Technical Services]“The war in Iran has added an additional layer of uncertainty on top of an already shaky macroeconomic climate. A spike in inflation due to higher oil prices will reduce purchasing power, affecting every industry.” [Real Estate, Rental & Leasing]“Recent increases in fuel prices are having a substantial impact on the airline industry, resulting in significantly higher operational costs compared to pricing from just one month ago.” [Transportation & Warehousing]“Continued volatility in copper, aluminum and steel markets — driven by supply chain constraints and strong infrastructure demand — has increased costs and lead times for electric utility projects. These conditions are influencing purchasing strategies and capital planning across the industry.” [Utilities]“The U.S.-Israel military operations against Iran have created significant uncertainty for our Omani frankincense imports. Threats to close the Strait of Hormuz and rising war-risk surcharges are pressuring regional logistics costs, even for air freight. Combined with the Supreme Court’s emergency tariffs ruling — which replaced our 10-percent tariff with a 15-percent Section 122 tariff — landed costs have increased materially. We are monitoring regional stability closely and maintaining communication with Omani suppliers.” [Wholesale Trade]For background, the ISM Services PMI (formerly the Non-Manufacturing ISM Report On Business) is published monthly by the Institute for Supply Management, based on surveys of purchasing and supply executives across the U.S. services sector. The panel is weighted by each industry's contribution to GDP. The headline composite is built from four equally weighted subindices—business activity, new orders, employment, and supplier deliveries—with readings above 50 indicating expansion. Given that services account for roughly three-quarters of U.S. economic output, the report is closely watched as a barometer of overall growth momentum.The services sector ended 2025 on an accelerating note. The PMI rose for a third straight month in December to 54.4, the strongest since October 2024, with all subindices in expansion for the first time since February of that year. January 2026 held steady at 53.8, with business activity and supplier deliveries posting their highest readings since October 2024. Respondent commentary increasingly flagged tariff uncertainty and annual contract renewals as sources of concern, while price pressures edged higher with the prices paid index at 66.6.February marked a significant acceleration. The headline PMI surged 2.3 points to 56.1, the highest since July 2022 and well above the 53.5 consensus. It was the 20th consecutive month of expansion and the 69th straight month of overall economic growth as measured by the index. Business activity jumped to 59.9, its second-highest reading since November 2022. New orders surged 5.5 points to 58.6, the sharpest pace in 17 months, while employment growth firmed to 51.8. Notably, all ten reported subindices were in expansion territory for the first time since March 2021. Backlogs of orders swung into expansion for the first time in a year. On the price side, the prices paid index actually eased 3.6 points to 63.0, though it remained above 60 for a fifteenth consecutive month. This article was written by Adam Button at investinglive.com.

Services activity declined, with the PMI at 47.2 (below 50 = contraction), though slightly improved from February at 46.5New business fell again, but the pace of decline eased to a 5-month lowGeopolitical uncertainty (Middle East war) weighed heavily on demand, with clients delaying or pausing projectsInput costs surged to a 9-month high, driven by fuel, transport, and labor costs Firms raised prices, but pricing power was limited due to weak demand and competition Employment declined for a 7th straight month, as firms cut staff or didn’t replace workers Business Services and Transport sectors saw the sharpest drops in activity Despite current weakness, confidence improved to a 6-month high, with hopes for geopolitical resolution and stronger demand aheadBottom line: The sector remains in contraction, pressured by war-driven uncertainty and rising costs, but there are early signs of stabilization and improved sentiment.Paul Smith, Economics Director at S&P Global Market Intelligence, said: “Another challenging month for Canada’s service sector was signalled during March, with activity and new business again falling, albeit at slower rates compared to recent months. The impact of the war in the Middle East has led to heightened uncertainty and delayed decision making amongst clients, although firms are confident that a swift resolution would lead to an uplift in activity. “Nonetheless, the present business environment is clearly challenging, with firms reporting a steep increase in their operating expenses over the month, driven mainly by increased fuel and transportation costs. However, given subdued market demand, firms’ own pricing power remains restricted leading to only partial pass through of higher costs to clients and therefore a squeeze in margins. Understandably therefore service providers took the option to save on expenses wherever possible, with any leavers generally not replaced leading to another net fall in employment over the month."The S&P Global Canada Services PMI is based on responses from roughly 400 service-sector companies across a range of industries and is designed to track month-to-month changes in business activity. It uses a diffusion index on a 0–100 scale, where readings above 50 indicate expansion and below 50 signal contraction. The primary measure is the Services Business Activity Index, which reflects changes in output, while the Composite PMI combines both services and manufacturing using GDP-based weights. The data is seasonally adjusted and provides a timely snapshot of economic momentum, with the 50 level serving as the key dividing line between growth and contraction. This article was written by Greg Michalowski at investinglive.com.

A proposed 45-day ceasefire between the U.S. and Iran is currently being discussed but remains one of several options under consideration, with no formal approval from President Trump. A White House official emphasized that the President has not signed off on the plan, and that military operations (“Operation Epic Fury”) are ongoing. Attention now turns to Trump’s scheduled remarks at 1 PM EDT, where markets will be looking for clearer direction on policy and any potential shift toward de-escalation.45-day ceasefire proposal is not approved and remains one of many ideasTrump has not signed off, and military operations continueTrump scheduled to speak at 1 PM EDT, a potential catalyst for clarity Uncertainty remains on whether Iran will be addressed directly beforehand Formal press conference at 1 PM EDT could provide more definitive guidance Bottom line: The situation remains fluid and headline-driven, with no confirmed ceasefire and markets awaiting Trump’s comments for direction.Iran has rejected ideas of a 45 day ceasefire idea. Israel is also a wildcard. Netanyahu has his own regional objective and judging from his actions vs Hamas, there may be announced ceasefires, but the war goes on. Trump was all in at the start of the war, but has tried to distance himself more from Netanyahu as the 4 weeks proposed end to the war, has passed. This article was written by Greg Michalowski at investinglive.com.

Canada is closed today for the Easter Monday holiday, but U.S. markets remain open and active. Equity futures are pointing to a mixed start, with the Dow modestly lower, the S&P 500 slightly higher, and the NASDAQ leading the way with gains of around 100 points. Meanwhile, U.S. yields have rotated lower after an early uptick, with the 10-year now down roughly 1.5 basis points after being higher by a similar amount at the start of the North American session. That shift in yields is helping to shape the tone across FX markets.In the USDCAD, the price is trading at new session lows after failing to build on last week’s highs during the Asian-Pacific session. That failure to extend higher opened the door for sellers, and the momentum has since tilted more decisively to the downside. In the early European session, the pair broke below a key swing area between 1.3924 and 1.3937—a level that had acted as a floor going back to September 2025 on the 4-hour chart. The inability to hold above that zone has shifted the short-term bias more firmly in favor of sellers.The downside momentum has continued with a break below the 100-hour moving average (near 1.3917). This level held as support late last week after the pair briefly dipped below it on Wednesday before rebounding into Thursday and Friday. Moving back below it today is a negative technical development and signals that sellers are regaining control—at least in the near term.However, there is still work to do for sellers if they want to extend the move. The next key target comes in at the 200-hour moving average near 1.3891. This level has proven to be a key barometer in recent weeks. Back on March 23, the price briefly moved below it but failed to generate follow-through, quickly snapping back higher. Earlier in March, the pair used that same moving average as a base before launching its broader upside trend. As a result, a clean break and sustained move below the 200-hour MA would be needed to give sellers greater confidence and signal a more meaningful shift in control.If that level gives way, attention turns to the next downside targets, including last week’s low near 1.3868 and the 38.2% retracement of the move up from the March 23 low at 1.3516. These represent key downside checkpoints that would need to be broken to reinforce a more bearish bias.For now, the bias has tilted modestly to the downside, but the roadmap remains clear: sellers are gaining traction, yet they still need to break and stay below key support levels to fully take control. This article was written by Greg Michalowski at investinglive.com.

The world is dangerously close to a massive escalation in the Iran war, as Trump has threatened to strike Iran's infrastructure, including energy, power and bridges.Iran has pledged to attack the energy infrastructure and possibly desalization infrastructure of gulf neighbors in response. Trump set a deadline for 8 pm ET on Tuesday to open Hormuz or face the destruction but Israel has already moved to strike at Iran's energy.Defence minister Israel Katz today said his military struck Iran's largest ​petrochemical complex at Asaluyeh. Fars news agency reported that 'several' sites had been struck.Tansim reported that companies that provide electricity, water and oxygen ​to Asaluyeh were attacked, but the facility itself was not damaged. That may be an aim to carefully tread the fine line towards an escalation that's in almost no one's interest (except Russia).Last month, Israel attacked Iran's South Pars gas field and Iran responded by attacks on gulf energy, including a crippingly strike on part of Qatar's LNG operation. That could take five years to repair, according to Qatar's national energy company and lead to a 17% drop in production.Just now, there are reports of large explosions in Kuwait, which has been particularly hard hit by Iran in this war.So far, the market isn't panicking on this attack because there are some hopes for a ceasefire or peace deal in light of Trump extending his deadline for a third time. WTI crude is down 90-cents to $110.86 after a big jump on Thursday.The market is undoubtedly on edge about war developments and this week feels like a critical moment because if Iran's power grid is attacked, it's hard to imagine them willingly opening the Strait of Hormuz any time soon.S&P 500 futures are up 0.1% and European markets are mostly closed for Easter Monday. This article was written by Adam Button at investinglive.com.

The USD is trading lower to kickstart the new trading week on this Easter Monday, although liquidity is thinner with the UK and much of Europe out for the holiday. Even with lighter participation, the market is being driven by weekend headlines, keeping traders cautious and reactive to geopolitical developments.Over the weekend, President Trump issued a renewed warning (I will keep the tone muted from the reality of his comments), giving what was described as a 48-hour window before potential strikes on key infrastructure such as bridges and power facilities. At the same time, an Axios report suggested that negotiations are ongoing, with efforts focused on a ceasefire that would help reopen the Strait of Hormuz. However, Iran has pushed back, stating that no meaningful negotiations are taking place. That contrast in messaging is keeping uncertainty elevated and limiting conviction across markets.Oil prices reflect that tension but also hint at expectations for eventual de-escalation. The front-month contract remains elevated near $110, underscoring the current risk premium tied to supply disruption fears. However, the June contract trading closer to $97 suggests the market is pricing in some form of resolution that could bring prices back below the $100 level—a level that had previously acted as a ceiling and now serves as a key barometer going forward.In equities, the tone is mixed. The Nasdaq is modestly higher, up around 90–100 points, while the S&P 500 is also slightly positive. In contrast, the Dow is lagging and trading lower. The divergence reflects a market that is not fully embracing risk-on or risk-off, but instead remains in a wait-and-see mode as traders weigh geopolitical risks against broader macro conditions.In the forex market, the major currency pairs are showing that same indecision. The EURUSD, USDJPY, and GBPUSD are all trading in and around their 100- and 200-hour moving averages. Those moving averages are clustered tightly together, which is often a signal of consolidation and uncertainty. From a technical perspective, that cluster becomes the near-term barometer. A sustained move above would tilt the bias more favorably toward buyers, while staying below keeps sellers in control.For now, the market is in a tug-of-war. The levels are well-defined, the risks are known, and traders are once again faced with a familiar equation: define risk, stay disciplined, and let the market show its hand. This article was written by Greg Michalowski at investinglive.com.