The truce hopes that drove a powerful rally in stocks are fading as the two sides accuse each other of failing to keep to the deal.
The two-week pause in Middle East hostilities agreed by the US and Iran looks to be in jeopardy. Both sides have accused the other of breaching the agreement, which hinges on a key condition: that Tehran reopens the Strait of Hormuz, a vital global oil shipping route that has been shut for weeks amid the conflict.
But Iran has again halted tanker traffic, saying continued strikes by US ally Israel on Lebanon violated the deal. In return, President Trump said US troops will be kept in the region until Tehran complies with the “real agreement,” he said in a Truth Social post.
Oil prices rebounded from their biggest one-day decline since April 2020, rising 3% amid revived worries about supply disruption. International benchmark Brent crude futures (BZ=F) and their US counterpart, West Texas Intermediate futures (CL=F), both traded at around $97 a barrel.
Data released by the Bureau of Economic Analysis on Thursday showed that “core” PCE, the Fed’s preferred method of inflation, rose by 0.4% in February, in line with economist estimates, while headline PCE also rose by 0.4%.
Weekly data on initial jobless claims came in at 219,000 first-time claims for the week ended April 4, according to data released by the Department of Labor on Thursday, an increase over the previous week’s 203,000 claims.
Daily Market Coverage Apr. 9, 2026 9AM-11AM (ET) | Yahoo Finance
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