US stock markets today LIVE: US stock futures up to 3.5% as oil crashes on US-Iran ceasefire; tech stocks higher

Amundi SA has been buying into the selloff in equity markets just as most investors were slashing their stock exposure on fears of an escalation in the Iran war.

“We were already positioned for a TACO,” said Amelie Derambure, a senior multi-asset portfolio manager at Amundi, using a widely adopted term for moments when Trump opts against following through with maximalist negotiating stances, according to a Bloomberg report.

US stock futures pointing to a positive start reflect improving near-term sentiment, but it would be premature to conclude that the uptrend is firmly in place.

Markets may have moved past the phase of indiscriminate selling, but a clear, durable bull cycle typically requires stronger visibility on rate cuts and earnings growth. Valuations, especially in segments of the US market, are still not cheap relative to historical averages. Corporate earnings resilience will be the key variable from here.

— Harshal Dasani, INVasset PMS

US President Donald Trump on Wednesday said any country supplying Iran with military weapons will face immediate 50% tariffs with no exemptions, announcing the duty in a social media post one day after agreeing to a two-week ceasefire with Tehran.

Wall Street was poised for a gap-up start on Wednesday, April 8, as US stock futures traded 2.5-3.5% higher around 5.30 am GMT. The tech-heavy Nasdaq's E-mini futures were up 3.5%, S&P 500 futures rose 2.7%, and Dow Jones E-minis were up 2.5%.

The US stock market had ended mixed on Tuesday with signs of progress in the diplomatic efforts for peaceful settlement of the ongoing war in ‌the Middle East. Read more

Delta Air Lines Inc. expects to incur more than $2 billion in higher fuel costs through June because of the Iran war, prompting the carrier to tread carefully and stick to its previous full-year profit forecast.

“We’re not updating it in light of the uncertainty, so I think it’d be imprudent to make any estimate at this point,” Delta Chief Executive Officer Ed Bastian said.

Fuel prices have climbed sharply as the conflict disrupts global energy markets, raising costs for airlines at a time when demand has otherwise held up. The increase is forcing carriers to weigh how much of the higher expense they can pass on through fares without dampening bookings.

Airline shares globally surged Wednesday after US President Donald Trump agreed to a two-week ceasefire in exchange for Tehran reopening the Strait of Hormuz, a vital route for exports of oil and other commodities. (Bloomberg)

Gold rose to a near three-week high on Wednesday, as oil prices and the dollar fell sharply after the U.S. and Iran came to an agreement to cease hostilities for two weeks as talks begin on a permanent end to the war.

Spot gold was up 2% at $4,795.99 per ounce, as of 0920 GMT. Earlier in the session, bullion rose more than 3% to its highest level since March 19.

U.S. gold futures for June delivery gained 3% to $4,824.70.

The United States and Iran have agreed to a two-week ceasefire, subject to Iran's agreement to pause its blockade of oil and gas supplies through the Strait of Hormuz, Trump said. (Reuters)

The recovery in emerging-market assets gathered pace on Wednesday, with stocks heading for their strongest single-day gain since 2022 and currencies wiping out their year-to-date losses, after the U.S.-Iran ceasefire sent oil prices sharply lower.

MSCI Inc.’s benchmark index for developing-market equities climbed as much as 5%, led by gains in oil-importing economies such as South Korea and Taiwan. Among the standout performers, Dubai — one of the key targets during the recent conflict — posted its biggest jump in a decade, while Pakistan’s stock market also ranked among the top gainers, helped by the country’s role as a key mediator in securing the two-week pause in hostilities.

The near-term outlook remains positive, supported by stable macros, improving sentiment, and liquidity conditions. However, the sustainability of the rally will depend on progress in geopolitical negotiations, easing of supply disruptions, and normalization of energy shipments. Movements in crude oil prices, the rupee, and FII flows will remain key determinants of near-term market direction, said Ajay Menon, MD & CEO – Wealth Management (retail broking and distribution), Motilal Oswal Financial Services.

Jateen Trivedi, VP Research Analyst - Commodity and Currency, LKP Securities said:

“Gold traded sharply higher with gains of around ₹2900 at ₹153000, tracking strength in COMEX gold near $4800, although rupee appreciation capped further upside in MCX. The rally is largely driven by relief sentiment after the US–Iran ceasefire, which led to a sharp 15% correction in crude prices, supporting broader risk assets.

However, this move is more of a relief rally and short covering, as uncertainty still persists regarding the durability of the ceasefire and reopening of key supply routes.

Technically, resistance is seen near ₹155500, while support is placed around ₹149000. Gold is expected to remain volatile, with direction dependent on further geopolitical clarity and macro cues."

Hareesh V, Head of Commodity Research, Geojit Investments Limited:

"Gold and silver prices rallied sharply today, advancing nearly 3% and 6% respectively, following the ceasefire discussions between the US and Iran.

The easing of geopolitical tensions triggered renewed safe‑haven demand, with investors flocking to bullion as a hedge. Supportive macro factors, including a softer US dollar and the Dollar Index slipping below 99, further boosted momentum. This surge underscores how gold and silver remain resilient assets, with the potential to attract stronger buying interest from investors."

The Indian rupee appreciated 0.5% to close at 92.58 against the U.S. dollar on Wednesday, strengthening from its previous close of 93.0075.

Vinod Nair, Head of Research, Geojit Investments, said:

"The interim ceasefire is seen as a step toward broader regional stability. India benefits immediately from the reopening of the Hormuz Strait, which has pushed oil prices below $100 and reduced downside risks to FY27 EPS growth.

The sharp improvement in sentiment has driven a notable decline in the 10‑year bond yield and strengthened the rupee, while the RBI’s status quo stance has further supported financials. Although the Q4 results outlook remains muted, investors are focusing on reasonable valuations and a stable medium‑term earnings trajectory, suggesting that the rally still has room to continue in the near term."

Broader markets also soared, with the Nifty Midcap 100 up 4% and the Nifty Smallcap 100 riding 4.4%

Indian equity benchmarks staged a sharp relief rally on Wednesday, April 8, with the Sensex and Nifty 50 ending almost 4% higher as easing geopolitical tensions lifted investor sentiment.

Sensex ended 2946 points or 3.95% higher at 77,563 while the broader Nifty 50 settled 874 points or 3.78% up at 23,997.

The rally came after the United States and Iran agreed to a two-week ceasefire, triggering a broad rebound across global markets. Sentiment on Dalal Street was further boosted by a steep decline in crude oil prices, a weaker U.S. dollar, and the RBI Monetary Policy Committee’s decision to keep interest rates unchanged, in line with market expectations.

Shares of Tata Motors (Commercial Vehicles) and Tata Motors Passenger Vehicles (TMPV) jumped up to 11% on Wednesday after U.S. President Donald Trump agreed to a two-week ceasefire with Iran, subject to the immediate and safe reopening of the Strait of Hormuz — a key global shipping route that carries nearly 20% of the world’s oil flows.

In Wednesday’s trade, Tata Motors (Commercial Vehicles) climbed 11% to hit an intraday high of ₹439 on the NSE, while Tata Motors Passenger Vehicles rose 7.5% to ₹332. Ashok Leyland, another major player in the commercial vehicle space, also rallied sharply, gaining 12% to ₹171 on Dalal Street.

ICICI Prudential Asset Management Company Ltd informed exchanges that its board of directors will meet on Monday, 13 April 2026, to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended 31 March 2026.

The company also indicated that the board will evaluate and potentially recommend a final dividend for the financial year on the same day.

“….the meeting of the Board of Directors of the Company scheduled on Monday, April 13, 2026, will inter alia consider and recommend declaration of final dividend, if any, to the shareholders for the financial year ending on March 31, 2026,” said the firm in an exchange filing.

Shares of Angel One, a leading retail full-service brokerage firm in India, surged 8% in Wednesday's intraday session on April 8, to reach a two-month high of ₹265.85, as investors reacted positively to the company’s March and Q4FY26 business updates.

According to the company’s filing with the BSE, Angel One added 0.46 million clients in March, marking a 1.3% month-on-month (MoM) increase and a 20.5% year-on-year (YoY) rise. The firm’s total client base stood at 37.39 million at the end of the month.

However, gross client acquisition in March declined by 10.7% on a MoM basis but showed a 7.5% increase compared to the same period last year.