Latest Business News
U.S. Stock Market Reaches Another Record High
The S&P 500 rose 0.3% to set its 11th gain in 12 days, with the Dow Jones adding 115 points (0.2%) and the Nasdaq composite rising 0.4%. The rally reflects investor optimism as Wall Street awaits developments in the Iran war situation and corporate earnings continue to exceed expectations.
Brent Crude Oil Climbs to $99.39 as Geopolitical Tensions Persist
Oil prices rose 4.7% to settle at $99.39 per barrel, reflecting ongoing caution in financial markets regarding the Iran conflict. The price has fluctuated significantly from roughly $70 before the war to as high as $119 during periods of heightened uncertainty about Persian Gulf supply disruptions.
U.S. and Iran Consider Two-Week Ceasefire Extension
The U.S. and Iran are weighing a two-week extension to their current ceasefire, with neither side desiring to restart fighting. The war has devastated Iran's infrastructure and sent energy prices soaring globally, including in the United States.
Central Banks Show No Urgency on Rate Hikes
The probability of an April rate hike by major global central banks appears unlikely as of now. The IMF emphasized risks to growth dynamics that should temper rate hike expectations, and the ECB president's focus on data dependency suggests April may be too early for policy changes.
European Central Bank Markets Price Quarter-Point Hike by June
Markets are pricing in a 0.25% rate hike by the ECB in June, with at least one more increase expected later in 2026. The odds of an April ECB rate hike have dropped to approximately 25% from above 50% last month due to positive geopolitical headlines and dovish growth signals.
PepsiCo Surges on Strong Quarterly Results and Price Cuts
PepsiCo rose 2.3% after reporting better-than-expected quarterly results, boosted by increased snack purchases following the company's February announcement to cut prices on Lay's, Doritos, Cheetos, and Tostitos chips. The price reductions aimed to win back consumers frustrated by elevated pricing.
Transport and Insurance Companies Beat Earnings Expectations
J.B. Hunt Transport Services jumped 6.3% higher and Marsh & McLennan climbed 4.4% after both delivered stronger results than analysts anticipated. Their earnings outperformance contributed to broader market momentum on Thursday.
TSMC Reports Strong Q1 Profit, Signals Continued Demand
Taiwan Semiconductor Manufacturing Co., an industry heavyweight, reported stronger revenue and profit for early 2026 than analysts expected, providing support to technology stocks. CFO Wendell Huang stated the company expects strong demand to continue into the spring.
Abbott Falls Despite Beating Earnings on Profit Forecast Cut
Abbott declined 6% despite reporting slightly better-than-expected results, as the healthcare company cut its full-year profit forecast. The reduced outlook was primarily attributed to its acquisition of cancer-screening company Exact Sciences.
Oil Price Volatility Distorts Central Bank Rate Pricing
While rate hike bets are largely driven by oil prices, the extreme volatility of crude has distorted rate pricing and market liquidity. This uncertainty has created challenges for central banks in setting clear policy direction.