Stocks' march higher in the face of deepening geopolitical uncertainty is leaving some on Wall Street increasingly perplexed. U.S. equities continued to show resilience on Monday even after President Donald Trump announced a blockade of the Strait of Hormuz , with peace talks between the U.S. and Iran over the weekend ending without a deal. Many said there's a disconnect that reflects investors' growing willingness to look through near-term risks and a fear of missing out on any eventual rebound. "The rally last week shows investors don't want to miss the upside for when the conflict ends," Piper Sandler strategists wrote in a note. "The equity market has now priced in a quick return to normal. But this conflict is not over and there is a good chance it could go on a lot longer."
The analysts warned that the current standoff lacks an "obvious face-saving offramp," raising the risk that hostilities could drag on rather than resolve in a matter of weeks, which has been a dynamic more consistent with past conflicts. The blockade of all maritime traffic in and out of Iran's ports went into effect Monday. U.S. Central Command said the U.S. will not block vessels using the strait to get to non-Iranian ports. Still, the S & P 500 traded flat on Monday after rallying 3.6% last week. .SPX 1M mountain S & P 500 one month Investors appear to have grown accustomed to sharp escalations tied to Trump's policy battles that ultimately gave way to some form of negotiation or de-escalation . As a result, the stock market continues to price in a relatively benign outcome, even as some analysts argue that underlying conditions point to a more prolonged disruption. Melius Research struck a more cautious tone, pointing to decades of failed diplomacy between the U.S. and Iran as a reason to doubt any swift breakthrough.
"We do not anticipate the current ceasefire to hold," the firm wrote. "The failed talks in Islamabad only reinforce our expectation of a longer conflict, further reduced global oil and natural gas (LNG) inventories, and higher 'new normal' prices." Others say the next major test for that optimism may come from corporate America itself. "The big question for stocks going forward is if this upcoming earnings season can be enough of a catalyst to dismantle the close link between stocks and oil, as corporate earnings are what traditionally drive stock prices," said Clark Bellin, president and chief investment officer at Bellwether Wealth.
https://www.cnbc.com/2026/04/13/stock-market-optimism-is-baffling-some-on-wall-street.html
A month of war and rising gas prices has taken a toll on consumer confidence in the U.S., leading to a decline that is consistent across age groups, income levels, and political party affiliation, according to the latest University of Michigan Survey of Consumers.
Not only are Americans feeling worse about the current economy, but their expectations for next year are also declining at an alarming rate.
Economists are concerned that these short-term shocks will have long-term implications, as "these developments will complicate Fed policy decisions," according to study author Joanne Hsu.
And now we have no idea just how "short-term" these shocks will be, as the fragile ceasefire reached five weeks into the Iran War has already fallen apart less than a week after it was announced.
As of April 12, the average price of a gallon of regular unleaded is $4.125, well ahead of $3.196 a year ago and even $3.598 just a month ago, according to AAA.
According to Morgan Stanley, every $1-per-gallon increase in gas prices results in a $450-per-year increase in fuel costs for gas-powered vehicles, assuming 27 mpg and 12,000 miles driven per year, increasing consumer anxiety.
Photo by Luis Alvarez on Getty Images
Consumer sentiment drops 11% in April as Iran War weighs on economy
Consumer sentiment fell about 11% in April, according to the latest University of Michigan Survey of Consumers, extending a steep decline that has worsened since the start of the Iran War.
The declines were consistent across demographics, and consumer sentiment is now about 9% lower than a year ago. Expectations for business conditions a year from now fell about 20% and are now 6% below last April. Personal finance assessments fell 11% as consumers felt the pressure from higher prices and weaker asset values.
One of the big losers from the prolonged conflict and the falling consumer sentiment is the U.S. auto industry.
Buying conditions for durables and vehicles worsened due to high prices, with open-ended survey comments indicating that many consumers "blame the Iran conflict for unfavorable changes to the economy."
“Escalating conflict in the Middle East is increasing risk across the global auto supply chain. Tensions around the Strait of Hormuz have heightened energy price volatility and raised concerns about shipping disruptions in oil and aluminum, among other upstream raw materials,” Morgan Stanley analyst Andrew Percoco said in a recent note.
Year-ahead inflation expectations jumped to 4.8% in April from 3.8% in March. The current inflation reading remains well above the 2.3% to 3.0% the survey recorded in the two years before the pandemic.
https://finance.yahoo.com/economy/articles/automakers-face-troubling-customer-trend-165008340.html
(RTTNews) - The Malaysia stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had dropped more than 30 points or 2 percent. The Kuala Lumpur Composite Index now sits just above the 1,690-point plateau although it may tick lower again on Monday.
The global forecast for the Asian markets is soft thanks to renewed tensions in the Middle East. The European and U.S. markets were mixed to lower and the Asian bourses are also expected to open under pressure.
The KLCI finished slightly higher on Friday following gains from the financial shares and mixed performances from the telecoms, plantations and industrials.
For the day, the index rose 5.07 points or 0.30 percent to finish at 1,691.31 after trading between 1,685.66 and 1,692.97. Among the actives, 99 Speed Mart Retail advanced 0.89 percent, while AMMB Holdings eased 0.16 percent, Celcomdigi lost 0.66 percent, CIMB Group climbed 0.94 percent, Gamuda increased 0.75 percent, IHH Healthcare eased 0.23 percent, IOI Corporation shed 0.70 percent, Kuala Lumpur Kepong tumbled 1.17 percent, Maxis sank 0.85 percent, MISC fell 0.48 percent, MRDIY spiked 1.94 percent, Nestle Malaysia retreated 1.10 percent, Petronas Dagangan plunged 2.80 percent, Petronas Gas rose 0.22 percent, PPB Group improved 0.84 percent, Press Metal gained 0.51 percent, Public Bank vaulted 1.09 percent, RHB Bank rallied 1.87 percent, Sime Darby dropped 0.90 percent, Sunway jumped 1.56 percent, Sunway Healthcare slumped 1.04 percent, Telekom Malaysia added 0.57 percent, Tenaga Nasional dipped 0.28 percent, YTL Corporation soared 2.58 percent, YTL Power surged 2.78 percent and Axiata, SD Guthrie, Petronas Chemicals and Maybank were unchanged.
The lead from Wall Street is weak as the major averages opened mixed on Friday and largely hugged the line throughout the trading day before ending little changed and on opposite sides.
The Dow dropped 269.23 points or 0.56 percent to finish at 47,916.57, while the NASDAQ gained 80.49 points or 0.35 percent to close at 22,902.89 and the S&P 500 slipped 7.77 points or 0.11 percent to end at 6,816.89.
For the week, the NASDAQ spiked 4.7 percent, the S&P rallied 3.6 percent and the Dow jumped 3.0 percent.
The lackluster performance by the broader markets came amid lingering about whether the fragile ceasefire in the Middle East will hold; peace negotiations over the weekend also failed to produce a result.
In economic news, the University of Michigan noted a significant deterioration in U.S. consumer sentiment in April. Also, the Labor Department showed consumer prices advanced by 0.9 percent in March, in line with estimates.
Crude oil prices slumped Friday despite persistent tensions surrounding the Strait of Hormuz. West Texas Intermediate crude for May delivery was down $1.15 or 1.18 percent at $96.72 per barrel.
https://www.finanzen.at/nachrichten/aktien/malaysia-bourse-expected-to-remain-rangebound-1036013410
The European Commission is preparing to adopt next week a policy paper to recommend lowering energy taxes and grid charges as the EU looks to reduce the impact of the Hormuz crisis on households and industry, sources familiar with the plan told Bloomberg on Monday.
Various EU member states have already taken steps to support households and businesses in uncoordinated national measures to blunt the impact of the second major energy crisis in four years.
Now the Commission is set to adopt on April 22 a policy paper that would outline recommendations of lower taxes and reduced grid charges as a means to boost renewable energy rollout amid soaring natural gas prices, which have led to spiking power costs for consumers.
The paper is also expected to recommend reducing the taxation on electricity, and ensuring that electricity is taxed more favorably than fossil fuels, according to Bloomberg’s sources.
The energy crisis in Europe is already felt with spiking gasoline, diesel, and natural gas prices, while in the jet fuel market there is a real threat that shortages would arrive as soon as early May.
“We don’t expect any disruption until early May, but if the war continues, we do run the risk of supply disruptions in Europe in May and June, and we hope the war will finish sooner than that and the risk to supply will be eliminated,” Ryanair CEO Michael O’Leary told Sky News earlier this month.
Around that time, Dan Jørgensen, European Commissioner for Energy and Housing, warned oil and gas prices would not return to pre-war levels soon even if the conflict in the Middle East were to end today.
In financial terms, 30 days of conflict already added $16.2 billion (14 billion euros) to the EU’s fossil fuels import bill, Jørgensen said at an informal meeting of EU energy ministers at the end of March.
The EU’s import bill has further soared this month and risks of shortages of fuels has become all too real with supplies trapped at the Strait of Hormuz and oil and gas prices skyrocketing.
By Michael Kern for Oilprice.com
More Top Reads From Oilprice.com
India's state-run Hindustan Petroleum Corp has issued a rare tender seeking a liquefied petroleum gas tanker to immediately load propane and butane from Russia's Ust-Luga port, a tender document seen by Reuters on Monday showed.
The vessel, to be loaded with 12,000 metric tons of butane and 8,000 tons of propane for discharge on India's west coast, must not be under sanctions and must have no links to Iran, the document said.
HPCL did not immediately respond to a request for comment.
Indian state refiners are seeking to buy LPG, used as cooking gas, from more diversified sources including Russia as India faces its worst LPG supply crisis in decades.
Supplies from the Middle East have been disrupted by the closure of the Strait of Hormuz following the U.S.-Israeli war on Iran https://www.reuters.com/world/iran/.
Indian nL1N4000IN authorities have previously said they are purchasing LPG from countries including the U.S., Norway, Canada, and Russia.
India consumed 33.15 million tons of LPG last year, with imports accounting for about 60% of demand. About 90% of those imports came from the Middle East.
By Charles Kennedy - Apr 14, 2026, 2:10 AM CDT
Saudi Arabia is pressing the United States to lift its blockade on Iranian ports, the Wall Street Journal reported, citing unnamed “Arab officials”.
Riyadh’s concern, per the report, is that the blockade could push Iran to further escalation instead of negotiations, and could result in the closure of the Bab el-Mandeb Strait in the Red Sea.
“President Trump has been clear that he wants the Strait of Hormuz to be fully open to facilitate the free flow of energy,” White House spokeswoman Anna Kelly said this week, as quoted by the Wall Street Journal. “The administration is in frequent contact with our Gulf allies, who the President is helping by ensuring that Iran cannot extort the United States or any other country.”
It appears, from the report, that at least one ally is quite concerned, however. Saudi Arabia has redirected its oil export flows from its east coast and Hormuz to the west coast and the Red Sea, but if the Yemeni Houthis close Bab el-Mandeb, those flows would be sapped as well.
“If Iran does want to shut down Bab al-Mandeb, the Houthis are the obvious partner to do it, and their response to the Gaza conflict demonstrates that they have the capacity to do it,” Adam Baron, a fellow at liberal think tank New America, told the WSJ.
The Houthis closed the Bab el-Mandeb Strait two years ago, redirecting global trade flows around Africa, which added to transportation costs and pushed oil prices higher, contributing to already concerning inflationary trends.
Bab el-Mandeb returned to the focus of analysts’ attention after Iran closed the Strait of Hormuz first, as an alternative route for at least some oil flows (Saudi), and second, as a weak spot in the region that could also be closed, as noted by New America’s Baron.
https://oilprice.com/Latest-Energy-News/World-News/Saudi-Arabia-Urges-US-to-Lift-Iran-Blockade.html
BHP’s Strategic Pivot Toward Future-Facing Commodities
To benefit from decarbonization, electrification, population growth and rising living standards in emerging markets, BHP plans to focus more on commodities such as copper and potash, allocating nearly 70% of its medium-term capital expenditure to these areas.
BHP has achieved 30% growth in copper production in the last four years, and copper production reached 984 kt in the first half of fiscal 2026. The company’s expected copper production is 1.9-2.0 Mt for fiscal 2026.
The company submitted the "Escondida New Concentrator" project to the Environmental Assessment System as part of its ongoing efforts to grow the business. The new concentrator, with a likely investment of $4.4-$5.9 billion, will replace the historic Los Colorados plant, which is approaching the end of its operating life. BHP plans to install new capacity to produce 220 – 260 kt of copper annually.
Resolution Copper, a joint venture owned by BHP (45%) and Rio Tinto (55%), and the United States Forest Service (USFS) have announced the completion of a Federal land exchange. This milestone enables the next phase of technical work and development planning for the Resolution Copper project, which is one of the most significant undeveloped copper resources in the United States.
BHP is also advancing the Jansen Stage 1 potash project, a large-scale, low-cost, high-grade resource with a mine life exceeding 100 years. BHP is working toward its first production by mid-2027. Once operational, Jansen Stage 1 is expected to produce 4.35 million tons of potash annually. Stage 2 of the project has been 14% completed and is expected to deliver its first production in fiscal 2031.
These investments will transform Jansen into one of the world’s largest potash mines, doubling production capacity to 8.5 million tons per year, positioning BHP as a major global producer of potash by the end of the decade.
Spot gold rises 0.6% as U.S.-Iran peace talks raise hopes of reduced supply risks
Apr. 14, 2026 at 3:25am
The intricate inner workings of the financial system, captured in a cinematic close-up, reflect the complex mechanics underlying global markets and economic stability. Washington Today
Gold prices rebounded on Tuesday, rising 0.6% to $4,768.19 per ounce, as oil prices fell below $100 a barrel on signs of potential U.S.-Iran dialogue to end their war. The drop in oil prices eased inflation concerns, boosting the appeal of the non-yielding metal. The U.S. dollar also hovered near its lowest level in over a month, making gold more affordable for holders of other currencies.
WHY IT MATTERS
Gold is seen as a hedge against inflation, and higher oil prices can feed into overall inflation by raising transportation and production costs. The potential for a deal between the U.S. and Iran to end the war and reopen the Strait of Hormuz could ease supply risks and further dampen inflation fears, supporting gold prices.
THE DETAILS
Spot gold rose 0.6% to $4,768.19 per ounce, after hitting a near one-week low the previous day. U.S. gold futures for June delivery also gained 0.5% to $4,790.70. Oil prices fell below $100 a barrel as signs of potential U.S.-Iran dialogue eased concerns about supply risks from the U.S. blockade of the Strait of Hormuz. Higher crude prices typically boost gold's appeal as an inflation hedge, but elevated interest rates weigh on the non-yielding metal's demand.
Ivanhoe Mines Ltd. IVN-T said on Monday it delivered higher zinc and copper production in the first quarter, as a ramp-up at its flagship Kamoa-Kakula complex in Democratic Republic of Congo and a key infrastructure milestone at the Platreef project in South Africa strengthened growth outlook.
The first-quarter update comes weeks after Ivanhoe trimmed 2026 copper anode guidance to 290,000–330,000 metric tons and 2027 output to 380,000–420,000 tons, citing a more conservative mine plan.
Kamoa-Kakula remains a key growth asset in an otherwise supply-constrained copper market.
The Canada-based miner said in a statement its Kipushi mine in Congo produced a record 65,044 tons of zinc concentrate in the first quarter, up 6 per cent from the preceding quarter.
Improved plant recoveries, which averaged above 90 per cent for the first time, helped offset persistent power instability at the operation, the company said.
Copper production at Kamoa-Kakula reached 71,417 tons in blister and anode, supported by the continued ramp-up of the on-site direct-to-blister smelter to around 60 per cent of its 500,000-ton-per-year capacity. The smelter is targeting annualized output of about 300,000 tons, with further increases constrained by concentrate feed, the company said.
Ivanhoe said it completed a new shaft at its Platreef mine in March, paving the way for higher-grade ore. The company expects commercial production from mid-2026, with early work under way on the Phase 2 expansion.
Kamoa-Kakula to benefit from shipping disruptions
The company said sales of sulphuric acid, a by-product of smelting at Kamoa-Kakula, are improving margins, with realized prices of about US$500 per ton amid tightening global supply.
Executive co-chair Robert Friedland said the disruptions to global shipping routes could exacerbate shortages of sulphur and acid, threatening copper supply elsewhere, while positioning the smelter as a beneficiary rather than a consumer.
Reuters | April 13, 2026 | 4:41 pm Markets Top Companies Latin America Copper
(Image courtesy of Antofagasta Minerals.)
Chilean miner Antofagasta Minerals said rising fuel and sulfuric acid costs are its biggest near-term concerns, even as its operations and project pipeline continue to advance steadily, chief executive Ivan Arriagada told Reuters.
Higher oil prices, and the resulting rise in fuel costs, are the company’s main concern on the cost front, Arriagada said in an interview on Monday.
“We have also seen increases in the price of some inputs – sulfuric acid, explosives, and to some extent energy as well,” he said. “That is happening in a context where the copper price, while it has fallen, has generally remained at a favorable level.”
Arriagada said the company has long-term contracts covering sulfuric acid, which it uses in a small portion of its operations.
Still, he said Antofagasta is watching the market closely as the delivered price of sulfuric acid in Chile has risen. Chile is a net importer of the input for the copper industry, and global market conditions have altered trade flows, he added.
“We are closely monitoring developments in the market,” Arriagada said. “If this worsens and supply shortages increase, it could affect us.”
Union Minister for Coal and Mines, G. Kishan Reddy, spearheaded a high-profile roadshow in Gachibowli on Monday to launch the 7th tranche of critical mineral blocks and the 2nd tranche of exploration licenses. The event brought together state leaders, including Telangana Mining Minister G. Vivek Venkatswamy, alongside industry stakeholders to discuss the nation’s shifting mining landscape.
Kishan Reddy underscored the transformative reforms currently reshaping the sector, emphasizing that transparent auction mechanisms and a commitment to ease of doing business are essential for unlocking India’s mineral potential. He noted that the 19 blocks on offer, featuring lithium, tungsten, and tin, are vital for securing domestic supply chains and realizing the vision of a self-reliant India. Both Union and state government officials highlighted their proactive efforts to streamline clearances and foster an investor-friendly environment.
Copper Rises to Six-Week High as Iran Talks Hope Aids Metals
(Bloomberg) — Copper rose to the highest level in more than a month as most industrial metals rallied on optimism that the US and Iran will restart peace talks.
President Donald Trump said Tehran had reached out to his administration on potential peace talks, even as the US began a naval blockade of the Strait of Hormuz. Iran has left the door open for further discussions, yet investors remain wary of renewed volatility due to the risk of escalation.
Industrial metals have been whipsawed since the Middle East war erupted at the end of February. They were initially hit by fears of soaring energy costs and the impact on economic growth before partially recovering on signs the conflict may be nearing an end. Aluminum jumped to a four-year high Monday on the further disruption to supplies due to the US blockade, but prices fell more than 1% on Tuesday as hopes for a resolution rose.
Article content
Copper rose 1% to $13,188 a ton on the London Metal Exchange as of 10:32 a.m. local time, after touching $13,210.50 earlier, the highest since March 3. Aluminum was down 1.3% at $3,561.50 a ton, as all other base metals rose on the bourse.
POSCO Group is intensifying its expansion efforts in India, which has emerged as a key alternative market to China.
According to steel industry sources on the 13th, POSCO Group Chairman Chang In-hwa is expected to visit India this month to sign a formal contract with JSW Group, India's largest steelmaker, to build an integrated steel mill with annual capacity of 6 million tons in Odisha state. Chang laid the groundwork for the deal last month when he met with Indian Ambassador to Korea Gorang Lal Das to discuss cooperation in the steel business.
POSCO Group agreed in October 2024 to pursue a joint venture with JSW Group to build an integrated steel mill. The two companies have been conducting a joint feasibility study since August last year, when they expanded the planned capacity by 20% from the original 5 million tons. An integrated steel mill refers to a facility equipped with the entire production process—melting iron ore to extract molten iron, removing impurities, and applying pressure to steel plates to produce finished products. The joint venture is likely to be structured with POSCO and JSW each holding a 50% stake.
If the joint venture agreement is signed, POSCO Group's efforts to build an integrated steel mill in India since 2005 will finally bear fruit. POSCO's earlier plan to invest $12 billion with the Odisha state government in an integrated steel mill had repeatedly fallen through due to local opposition, delays in mining rights permits, and the privatization of partner companies. A POSCO official said, "The 6-million-ton integrated steel mill project currently underway is completely separate from the project pursued in 2005."
India's economy is expected to maintain high growth of around 6% this year, with annual steel consumption increasing by 9-10%, making local production increasingly critical for capturing market share.
"Local steelmakers are rapidly gaining competitiveness, so strategies tailored to the market—including localization and high-value-added steel production—are necessary," said Kim Kyung-hoon, head of the India and South Asia team at the Korea Institute for International Economic Policy.
https://en.sedaily.com/finance/2026/04/13/poscos-26-year-quest-for-india-mega-steel-mill-gains
India is preparing a new national steel policy aimed at significantly reducing carbon emissions while simultaneously expanding production capacity. The draft policy outlines a roadmap for greener steelmaking, targeting a 25 percent reduction in emissions over the next decade and setting ambitious capacity goals.
India targets lower emissions in steel production
According to a draft prepared by the Ministry of Steel, India plans to reduce emissions from its steel sector to 2 mt of carbon dioxide per metric ton of finished steel by 2035-36.
Currently, Indian steel mills emit around 2.65 mt of carbon dioxide per metric ton of finished steel, which is approximately 32 percent higher than the global average of 2 mt.
Key measures to decarbonize the steel sector
The proposed policy includes several structural changes aimed at reducing emissions:
Promotion of gas-based steelmaking to replace coal-intensive processes
Higher use of ferrous scrap in production
Fiscal incentives for mills that successfully reduce emissions
These measures are designed to accelerate the transition toward lower-carbon steel production technologies.
Reducing reliance on coking coal
The policy also targets a reduction in India's dependence on imported coking coal:
Current import dependence: ~90 percent
Target level by 2035-36: 80 percent
However, infrastructure remains a challenge as only 21 percent of blast furnace capacity has access to gas pipelines and just give percent of DRI (sponge iron) capacity is connected to gas infrastructure.
Alongside decarbonization, India aims to significantly increase its steelmaking capacity from around 168 million mt per year to 400 million mt per year by 2035-36.
