Traders work on the floor of the New York Stock Exchange.
NYSE
U.S. stock futures were little changed on Wednesday as the S&P 500 ended the previous session less than 1% from its all-time high.
Futures tied to the broad market index as well as the Nasdaq 100 futures and the Dow Jones Industrial Average futures were marginally lower.
On Tuesday, the S&P 500 rose 1.2%. The Nasdaq Composite gained 2%, while the blue-chip Dow advanced more than 300 points.
The S&P 500 is nearing its all-time high of 7,002.28, reached on Jan. 28. Tuesday marked the index’s ninth positive session in 10, while the technology-heavy Nasdaq also posted its 10th straight session of gains. The S&P 500’s Monday advance erased its losses dating back to when the Iran conflict began in late February.
Investors sent stocks higher on the potential of a deal between the U.S. and Iran materializing, with President Donald Trump saying on Monday that “We’ve been called by the other side.” He added: “They’d like to make a deal very badly.”
On Tuesday, a White House official told CNBC that a second round of negotiations between Washington and Tehran is under discussion. Nothing has been officially scheduled yet, noted the official, who asked not to be named to discuss the administration’s internal plans.
“I don’t think we’re done with the conflict yet. I think there are plenty of concerns still out there,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon.
“That being said, I do think there are plenty of long-term opportunities for investors to lean into … now you’re seeing investors run back to their favorites, which I think going forward, especially for an intermediate to long-term investor, the opportunities are in things that haven’t done as well the past few years in this narrow market that we’ve had,” he added.
Bank of America rises on earnings beat
Bank of America shares gained more than 1% after the banking giant posted better-than-expected results for the first quarter.
The bank earned $1.11 per share on revenue of $30.43 billion. Analysts expected a profit of $1.01 per share on revenue of $29.93 billion. BofA’s strong results were bolstered by its equity sales and trading unit.
BAC rises
— Fred Imbert
Snap jumps on layoff plans
Snap shares popped more than 5% after the Snapchat parent announced plans to lay off up to 16% of its workforce. The company said it’s trying to reallocate resources toward growing net income profitability, among other initiatives.
SNAP jumps
— Fred Imbert
Asia markets broadly rise amid optimism over a possible U.S.-Iran deal
Asia-Pacific markets broadly rose Wednesday, tracking overnight gains in U.S. stocks, amid rising hopes of a diplomatic solution to the Middle East conflict.
South Korea’s Kospi ended the session 2.07% higher at 6,091.39, while the small-cap Kosdaq gained 2.72% at 1,152.43. Shares of information technology services provider Samsung SDS rose 17.89% following news that private equity firm KKR would invest about $820 million in its convertible bonds.
Japan’s Nikkei 225 closed 0.44% higher at 58,134.24, while the Topix rose 0.40% to 3,770.33. Shares of Suntory Beverage & Food rose 1.24% following a Nikkei report that its parent company would buy Daiichi Sankyo‘s over-the-counter pharmaceutical unit for about $1.2 billion to expand its health business.
Mainland China’s CSI 300 index bucked regional gains, ending the session down 0.34% at 4,685.24, while Hong Kong’s Hang Seng index gained 0.43% in its last hour of trade. China’s finance ministry said it would issue 15.5 billion yuan-denominated treasury bonds in Hong Kong on April 22, according to Reuters.
India’s Nifty 50 gained 1.56% as of 3:50 a.m. ET after trading resumed following a holiday on Tuesday. Australia’s S&P/ASX 200 ended flat.
Oil prices saw choppy trading. The West Texas Intermediate was down 0.60% at $90.75 per barrel as of 3:50 a.m. ET. Brent crude was trading flat at $94.84 per barrel.
— Justina Lee
Oil prices rise in choppy trade as possible U.S.-Iran talks raise hopes for Mideast peace deal
Oil prices rose in choppy trading Wednesday after settling sharply lower the day before, amid rising optimism that the Middle East conflict could see a diplomatic resolution.
Oil reversed early losses to trade higher. The West Texas Intermediate rose 0.47% at $91.72 per barrel as of 12:49 a.m. ET. Brent crude gained 1.03% to $95.77 per barrel.
A second round of U.S.-Iran negotiations are being considered, though no official schedule has been set, a White House official told CNBC on Tuesday.
President Donald Trump later said the talks could take place “over the next two days” in Islamabad, according to the New York Post.
Asia stocks rise on lower oil prices, hopes of Iran-U.S. deal
Asia-Pacific markets opened higher Wednesday, tracking overnight gains in U.S. stocks, as oil prices fell amid rising hopes of a diplomatic solution to the Middle East conflict.
South Korea’s Kospi advanced 2.95% while the small-cap Kosdaq gained 1.98%. Japan’s Nikkei 225 was 0.67% higher, while the Topix rose 0.49%. Australia’s S&P/ASX 200 added 0.10%.
Mainland China’s CSI 300 index was up 0.41%, while Hong Kong’s Hang Seng index was 0.95% higher. China’s finance ministry said it will issue 15.5 billion yuan-denominated treasury bonds in Hong Kong on April 22, according to Reuters.
The West Texas Intermediate was down 0.65% at $90.68 per barrel as of 9:45 p.m. ET. Brent crude fell 0.34% to $94.47 per barrel.
— Justina Lee
Broadcom shares pop on news of AI chips deal with Meta Platforms
Meta Platforms said it has agreed to deploy 1 gigawatt of custom artificial intelligence chips using Broadcom‘s technology.
The two companies have extended an existing partnership to design the social media giant’s custom in-house AI accelerators through 2029. Shares of Broadcom were last up 3%, while Meta was up less than 1%.
Broadcom shares in the past day
Stocks reporting earnings Wednesday
Nasdaq on pace for longest daily winning streak since 2021
Traders work on the floor of the New York Stock Exchange.
NYSE
Major U.S. stock indices are soaring as energy prices dipped on Tuesday and producer prices came in cooler than expected.
The Nasdaq Composite finished about 1.96% up on the day, marking its 10th positive session in a row for the first time since its 11-day streak ending in November 2021.
The biggest positive mover in the index was Nvidia at +88 points and the biggest daily declines were from Intel at -9 points.
The S&P 500 finished up 1.18%, hitting its ninth positive session in 10. The Dow Industrials rose 0.66%, hitting its fourth positive session in five.
The positive moves come as energy prices declined amid the ongoing U.S.-Israeli conflict with Iran. West Texas Intermediate crude oil for May delivery lost nearly 8% and settled at $91.28 per barrel, and global benchmark Brent crude finished the day down 4.6%, ending at $94.79 per barrel.
President Donald Trump told the New York Post Tuesday that talks with Iran could resume over the next two days.
Producer prices came in softer than expected on Tuesday, offering some relief about the effects of inflation in coming months coming as a result of the war.
The producer price index, which measures pipeline costs for final demand goods, increased by 0.5% in March — less than half of the Dow Jones consensus estimate of 1.1%
—Tobias Burns, Chris Hayes
More AI investment is needed to keep pace with demand, Michael Dell says
Michael Dell said Tuesday that more investment is needed to build up semiconductor manufacturing, given the mismatch in capacity and demand.
“There is a lot of investment that’s going into it, but you also have to understand that the demand is just growing much faster than anybody anticipated,” the Dell Technologies founder and CEO said on stage at the Semafor World Economy conference in Washington, DC. “There’s sort of a mismatch in the timing of how fast the demand signal is changing relative to the planning cycle.”
Shares of Dell Technologies have surged this year as demand grows for its AI-enabled servers. They’re up nearly 50% year to date.
Dell Technologies, YTD
— Sarah Min
Stock futures open little changed
Stock futures traded near flat on Tuesday night.
Futures tied to all three major averages were trading around the flatline shortly after 6 p.m. ET.
— Lisa Kailai Han
Traders work on the floor of the New York Stock Exchange.
NYSE
U.S. stock futures were little changed on Wednesday as the S&P 500 ended the previous session less than 1% from its all-time high.
Futures tied to the broad market index as well as the Nasdaq 100 futures and the Dow Jones Industrial Average futures were marginally lower.
On Tuesday, the S&P 500 rose 1.2%. The Nasdaq Composite gained 2%, while the blue-chip Dow advanced more than 300 points.
The S&P 500 is nearing its all-time high of 7,002.28, reached on Jan. 28. Tuesday marked the index’s ninth positive session in 10, while the technology-heavy Nasdaq also posted its 10th straight session of gains. The S&P 500’s Monday advance erased its losses dating back to when the Iran conflict began in late February.
Investors sent stocks higher on the potential of a deal between the U.S. and Iran materializing, with President Donald Trump saying on Monday that “We’ve been called by the other side.” He added: “They’d like to make a deal very badly.”
On Tuesday, a White House official told CNBC that a second round of negotiations between Washington and Tehran is under discussion. Nothing has been officially scheduled yet, noted the official, who asked not to be named to discuss the administration’s internal plans.
“I don’t think we’re done with the conflict yet. I think there are plenty of concerns still out there,” Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management, said on CNBC’s “Closing Bell: Overtime” on Tuesday afternoon.
“That being said, I do think there are plenty of long-term opportunities for investors to lean into … now you’re seeing investors run back to their favorites, which I think going forward, especially for an intermediate to long-term investor, the opportunities are in things that haven’t done as well the past few years in this narrow market that we’ve had,” he added.
Bank of America rises on earnings beat
Bank of America shares gained more than 1% after the banking giant posted better-than-expected results for the first quarter.
The bank earned $1.11 per share on revenue of $30.43 billion. Analysts expected a profit of $1.01 per share on revenue of $29.93 billion. BofA’s strong results were bolstered by its equity sales and trading unit.
BAC rises
— Fred Imbert
Snap jumps on layoff plans
Snap shares popped more than 5% after the Snapchat parent announced plans to lay off up to 16% of its workforce. The company said it’s trying to reallocate resources toward growing net income profitability, among other initiatives.
SNAP jumps
— Fred Imbert
Asia markets broadly rise amid optimism over a possible U.S.-Iran deal
Asia-Pacific markets broadly rose Wednesday, tracking overnight gains in U.S. stocks, amid rising hopes of a diplomatic solution to the Middle East conflict.
South Korea’s Kospi ended the session 2.07% higher at 6,091.39, while the small-cap Kosdaq gained 2.72% at 1,152.43. Shares of information technology services provider Samsung SDS rose 17.89% following news that private equity firm KKR would invest about $820 million in its convertible bonds.
Japan’s Nikkei 225 closed 0.44% higher at 58,134.24, while the Topix rose 0.40% to 3,770.33. Shares of Suntory Beverage & Food rose 1.24% following a Nikkei report that its parent company would buy Daiichi Sankyo‘s over-the-counter pharmaceutical unit for about $1.2 billion to expand its health business.
Mainland China’s CSI 300 index bucked regional gains, ending the session down 0.34% at 4,685.24, while Hong Kong’s Hang Seng index gained 0.43% in its last hour of trade. China’s finance ministry said it would issue 15.5 billion yuan-denominated treasury bonds in Hong Kong on April 22, according to Reuters.
India’s Nifty 50 gained 1.56% as of 3:50 a.m. ET after trading resumed following a holiday on Tuesday. Australia’s S&P/ASX 200 ended flat.
Oil prices saw choppy trading. The West Texas Intermediate was down 0.60% at $90.75 per barrel as of 3:50 a.m. ET. Brent crude was trading flat at $94.84 per barrel.
— Justina Lee
Oil prices rise in choppy trade as possible U.S.-Iran talks raise hopes for Mideast peace deal
Oil prices rose in choppy trading Wednesday after settling sharply lower the day before, amid rising optimism that the Middle East conflict could see a diplomatic resolution.
Oil reversed early losses to trade higher. The West Texas Intermediate rose 0.47% at $91.72 per barrel as of 12:49 a.m. ET. Brent crude gained 1.03% to $95.77 per barrel.
A second round of U.S.-Iran negotiations are being considered, though no official schedule has been set, a White House official told CNBC on Tuesday.
President Donald Trump later said the talks could take place “over the next two days” in Islamabad, according to the New York Post.
Asia stocks rise on lower oil prices, hopes of Iran-U.S. deal
Asia-Pacific markets opened higher Wednesday, tracking overnight gains in U.S. stocks, as oil prices fell amid rising hopes of a diplomatic solution to the Middle East conflict.
South Korea’s Kospi advanced 2.95% while the small-cap Kosdaq gained 1.98%. Japan’s Nikkei 225 was 0.67% higher, while the Topix rose 0.49%. Australia’s S&P/ASX 200 added 0.10%.
Mainland China’s CSI 300 index was up 0.41%, while Hong Kong’s Hang Seng index was 0.95% higher. China’s finance ministry said it will issue 15.5 billion yuan-denominated treasury bonds in Hong Kong on April 22, according to Reuters.
The West Texas Intermediate was down 0.65% at $90.68 per barrel as of 9:45 p.m. ET. Brent crude fell 0.34% to $94.47 per barrel.
— Justina Lee
Broadcom shares pop on news of AI chips deal with Meta Platforms
Meta Platforms said it has agreed to deploy 1 gigawatt of custom artificial intelligence chips using Broadcom‘s technology.
The two companies have extended an existing partnership to design the social media giant’s custom in-house AI accelerators through 2029. Shares of Broadcom were last up 3%, while Meta was up less than 1%.
Broadcom shares in the past day
Stocks reporting earnings Wednesday
Nasdaq on pace for longest daily winning streak since 2021
Traders work on the floor of the New York Stock Exchange.
NYSE
Major U.S. stock indices are soaring as energy prices dipped on Tuesday and producer prices came in cooler than expected.
The Nasdaq Composite finished about 1.96% up on the day, marking its 10th positive session in a row for the first time since its 11-day streak ending in November 2021.
The biggest positive mover in the index was Nvidia at +88 points and the biggest daily declines were from Intel at -9 points.
The S&P 500 finished up 1.18%, hitting its ninth positive session in 10. The Dow Industrials rose 0.66%, hitting its fourth positive session in five.
The positive moves come as energy prices declined amid the ongoing U.S.-Israeli conflict with Iran. West Texas Intermediate crude oil for May delivery lost nearly 8% and settled at $91.28 per barrel, and global benchmark Brent crude finished the day down 4.6%, ending at $94.79 per barrel.
President Donald Trump told the New York Post Tuesday that talks with Iran could resume over the next two days.
Producer prices came in softer than expected on Tuesday, offering some relief about the effects of inflation in coming months coming as a result of the war.
The producer price index, which measures pipeline costs for final demand goods, increased by 0.5% in March — less than half of the Dow Jones consensus estimate of 1.1%
—Tobias Burns, Chris Hayes
More AI investment is needed to keep pace with demand, Michael Dell says
Michael Dell said Tuesday that more investment is needed to build up semiconductor manufacturing, given the mismatch in capacity and demand.
“There is a lot of investment that’s going into it, but you also have to understand that the demand is just growing much faster than anybody anticipated,” the Dell Technologies founder and CEO said on stage at the Semafor World Economy conference in Washington, DC. “There’s sort of a mismatch in the timing of how fast the demand signal is changing relative to the planning cycle.”
Shares of Dell Technologies have surged this year as demand grows for its AI-enabled servers. They’re up nearly 50% year to date.
Dell Technologies, YTD
— Sarah Min
Stock futures open little changed
Stock futures traded near flat on Tuesday night.
Futures tied to all three major averages were trading around the flatline shortly after 6 p.m. ET.
— Lisa Kailai Han
