Market Update
Renewed Hostilities in the Persian Gulf Dragged Down Stocks, Bonds, and Crude Oil
Barry Adams
20 Apr, 2026
New York City
Stocks on Wall Street faced renewed headwinds in Monday's trading after tensions in the Middle East escalated.
The S&P 500 Index decreased 0.4%, and the tech-heavy Nasdaq Composite declined 0.6% amid renewed hostilities in the Persian Gulf.
The West Intermediate Texas crude oil price jumped by 6% to $89.00 a barrel after the U.S. seized an Iranian-flagged vessel in the Gulf of Oman over the weekend.
Meanwhile, Iran shut down the Strait of Hormuz and prolonged the disruption of traffic.
Despite the lingering hostilities in the Middle East, stock market indexes around the world advanced for the third week in a row and extended the rebound to more than 10% at the end of last week.
The Nasdaq Composite increased 7% and the S&P 500 index advanced 5%, and benchmark indexes in Europe jumped around 4% after choppy trading last week.
The U.S.-Iran war, started by Israel, has disrupted the supply of LNG and crude oil to Asia and inflicted severe damage to industries in India, Japan, and South Korea.
In addition, jet fuel prices have more than doubled in Asia after China curtailed shipment of refined energy products.
Moreover, advanced semiconductor makers in Taiwan, Japan, and South Korea are experiencing shortages of industrial gases, forcing producers to curtail memory module production.
The bond market showed little reaction to renewed hostilities in the Persian Gulf, and the yield on the 10-year Treasury note edged up slightly to 4.26%.
U.S. Movers
Airlines and oil producers charted different courses after crude oil prices soared more than 5% in New York and London trading.
Delta Air Lines, United Air, American Airlines, and Jet Blue Airways decreased 3%.
Exxon Mobil, Chevron, and ConocoPhillips advanced between 1% and 2% in Monday's trading in New York.
Renewed Hostilities in the Persian Gulf Dragged Down Stocks, Bonds, and Crude Oil
Barry Adams
20 Apr, 2026
New York City
Stocks on Wall Street faced renewed headwinds in Monday's trading after tensions in the Middle East escalated.
The S&P 500 Index decreased 0.4%, and the tech-heavy Nasdaq Composite declined 0.6% amid renewed hostilities in the Persian Gulf.
The West Intermediate Texas crude oil price jumped by 6% to $89.00 a barrel after the U.S. seized an Iranian-flagged vessel in the Gulf of Oman over the weekend.
Meanwhile, Iran shut down the Strait of Hormuz and prolonged the disruption of traffic.
Despite the lingering hostilities in the Middle East, stock market indexes around the world advanced for the third week in a row and extended the rebound to more than 10% at the end of last week.
The Nasdaq Composite increased 7% and the S&P 500 index advanced 5%, and benchmark indexes in Europe jumped around 4% after choppy trading last week.
The U.S.-Iran war, started by Israel, has disrupted the supply of LNG and crude oil to Asia and inflicted severe damage to industries in India, Japan, and South Korea.
In addition, jet fuel prices have more than doubled in Asia after China curtailed shipment of refined energy products.
Moreover, advanced semiconductor makers in Taiwan, Japan, and South Korea are experiencing shortages of industrial gases, forcing producers to curtail memory module production.
The bond market showed little reaction to renewed hostilities in the Persian Gulf, and the yield on the 10-year Treasury note edged up slightly to 4.26%.
U.S. Movers
Airlines and oil producers charted different courses after crude oil prices soared more than 5% in New York and London trading.
Delta Air Lines, United Air, American Airlines, and Jet Blue Airways decreased 3%.
Exxon Mobil, Chevron, and ConocoPhillips advanced between 1% and 2% in Monday's trading in New York.
Japan's Indexes Traded Higher Amid Escalating Tensions in the Persian Gulf
Akira Ito
20 Apr, 2026
Tokyo
Japan's indexes advanced on Monday, and investors overlooked rising tensions in the Persian Gulf.
The Nikkei 225 Stock Average advanced about 1%, and the broader Topix gained 0.6%, and the Japanese yen hovered at 159.46 against the U.S. dollar.
Tensions in the Persian Gulf escalated after the U.S. Navy captured an Iranian cargo ship in the Gulf of Oman and continued its blockade of Iran's ports.
Meanwhile, Iran reasserted its sovereignty on the Strait of Hormuz, which is a vital waterway for global oil shipments, prolonging the energy supply shock and keeping crude oil and energy prices higher.
The Brent crude oil price increased 6% to $95.37 a barrel, reflecting worries that shipments through the critical waterways may not be restored to normal levels in the immediate future.
Since the start of war at the end of February, international crude oil prices have soared more than 60%, jet fuel prices have doubled, and food prices have jumped more than 20% in Japan.
Moreover, prices of imported fertilizers and industrial gases have jumped because of the disruption of supplies through the Strait of Hormuz.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.8% to 58,965.20, and the broader Topix index edged higher 0.6% to 3,782.66.
AI-driven and semiconductor equipment makers led the gainers in Tokyo.
SoftBank Group, Tokyo Electron, Advantest Corp, and Lasertec advanced between 3% and 5%.
Nippon Yusen, Mitsui OSK Lines, and Kawasaki Kisen Kaisha fell between 1% and 4%.
Japan's Indexes Traded Higher Amid Escalating Tensions in the Persian Gulf
Akira Ito
20 Apr, 2026
Tokyo
Japan's indexes advanced on Monday, and investors overlooked rising tensions in the Persian Gulf.
The Nikkei 225 Stock Average advanced about 1%, and the broader Topix gained 0.6%, and the Japanese yen hovered at 159.46 against the U.S. dollar.
Tensions in the Persian Gulf escalated after the U.S. Navy captured an Iranian cargo ship in the Gulf of Oman and continued its blockade of Iran's ports.
Meanwhile, Iran reasserted its sovereignty on the Strait of Hormuz, which is a vital waterway for global oil shipments, prolonging the energy supply shock and keeping crude oil and energy prices higher.
The Brent crude oil price increased 6% to $95.37 a barrel, reflecting worries that shipments through the critical waterways may not be restored to normal levels in the immediate future.
Since the start of war at the end of February, international crude oil prices have soared more than 60%, jet fuel prices have doubled, and food prices have jumped more than 20% in Japan.
Moreover, prices of imported fertilizers and industrial gases have jumped because of the disruption of supplies through the Strait of Hormuz.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.8% to 58,965.20, and the broader Topix index edged higher 0.6% to 3,782.66.
AI-driven and semiconductor equipment makers led the gainers in Tokyo.
SoftBank Group, Tokyo Electron, Advantest Corp, and Lasertec advanced between 3% and 5%.
Nippon Yusen, Mitsui OSK Lines, and Kawasaki Kisen Kaisha fell between 1% and 4%.
PBoC Held Benchmark Rates Steady, Stocks Advanced In Shanghai and HK
Li Chen
20 Apr, 2026
Hong Kong
Benchmark indexes in China and Asia advanced, and investors overlooked rising tensions in the Persian Gulf.
The Hang Seng Index advanced nearly 1%, the CSI 300 Index inched up 0.5%, and the international crude oil price edged higher by 5% to $95.31 a barrel.
Stocks advanced in Monday's trading, extending the previous two consecutive weeks' gains amid optimism that energy product flows through the Strait of Hormuz will normalize soon.
Meanwhile, tensions in the Middle East rose after the U.S. captured an Iranian-flagged vessel over the weekend.
Closer to home, the People's Bank of China held its benchmark lending rates at record lows for the 11th month in a row.
The one-year loan prime rate, the benchmark for residential and commercial lending, was held at 3.0%, while the five-year rate, used for mortgage lending, was held at 3.5%.
China's economy expanded at 5.0% in the first quarter, ahead of the annual target rate of 4.5% set by policymakers, supported by the sustained rise in exports.
China Indexes and Stocks
The Hang Seng Index increased 0.8% to 26,376.98, and the mainland-focused CSI 300 Index gained 0.5% to 4,754.38.
Alibaba Group, Tencent Holdings, and Baidu advanced between 1% and 3%.
CNOOC Limited, Sinopec Shanghai Petrochemicals, and PetroChina decreased between 2% and 3%.
PBoC Held Benchmark Rates Steady, Stocks Advanced In Shanghai and HK
Li Chen
20 Apr, 2026
Hong Kong
Benchmark indexes in China and Asia advanced, and investors overlooked rising tensions in the Persian Gulf.
The Hang Seng Index advanced nearly 1%, the CSI 300 Index inched up 0.5%, and the international crude oil price edged higher by 5% to $95.31 a barrel.
Stocks advanced in Monday's trading, extending the previous two consecutive weeks' gains amid optimism that energy product flows through the Strait of Hormuz will normalize soon.
Meanwhile, tensions in the Middle East rose after the U.S. captured an Iranian-flagged vessel over the weekend.
Closer to home, the People's Bank of China held its benchmark lending rates at record lows for the 11th month in a row.
The one-year loan prime rate, the benchmark for residential and commercial lending, was held at 3.0%, while the five-year rate, used for mortgage lending, was held at 3.5%.
China's economy expanded at 5.0% in the first quarter, ahead of the annual target rate of 4.5% set by policymakers, supported by the sustained rise in exports.
China Indexes and Stocks
The Hang Seng Index increased 0.8% to 26,376.98, and the mainland-focused CSI 300 Index gained 0.5% to 4,754.38.
Alibaba Group, Tencent Holdings, and Baidu advanced between 1% and 3%.
CNOOC Limited, Sinopec Shanghai Petrochemicals, and PetroChina decreased between 2% and 3%.
China's Indexes Extended Gains for Second Consecutive Week, CATL In Focus
Li Chen
17 Apr, 2026
Hong Kong
Stock market indexes in mainland China and Hong Kong decreased as investors await the progress on U.S.-Iran talks.
The Hang Seng Index decreased 1.3%, and the CSI 300 Index inched lower by 0.1% amid lingering uncertainties over the reopening of the Strait of Hormuz.
For the week, the Hang Seng Index advanced by 1.4% and the CSI 300 Index gained 2.5%, extending their gains for the second consecutive week.
Despite optimism over the resumption of the flow of energy products through the Strait of Hormuz, the critical passageway for about one fifth of global oil supply remains effectively closed under a dual blockade.
Regional analysts are estimating that restoring normal shipments could take as long as two years.
China Indexes and Stocks
The Hang Seng Index decreased 1.3% to 26,059.34, and the CSI 300 Index fell 0.1% to 4,730.98.
Sigenergy dropped 7.9% to HK $607.50, and the Shanghai-based solar power systems maker completed its initial public offering and listed its share on the Hong Kong Stock Exchange on Thursday.
Alibaba Group edged up 0.6%, Tencent Holdings decreased 1.8%, and Baidu Inc. fell 1.8%.
Zhongji Innolight advanced 5.2% and Foxconn Industrial added 2.9%, outperforming, while Kweichow Moutai decreased 3.6% and Contemporary Amperex eased 2.2%.
China's Indexes Extended Gains for Second Consecutive Week, CATL In
Li Chen
17 Apr, 2026
Hong Kong
Stock market indexes in mainland China and Hong Kong decreased as investors await the progress on U.S.-Iran talks.
The Hang Seng Index decreased 1.3%, and the CSI 300 Index inched lower by 0.1% amid lingering uncertainties over the reopening of the Strait of Hormuz.
For the week, the Hang Seng Index advanced by 1.4% and the CSI 300 Index gained 2.5%, extending their gains for the second consecutive week.
Despite optimism over the resumption of the flow of energy products through the Strait of Hormuz, the critical passageway for about one fifth of global oil supply remains effectively closed under a dual blockade.
Regional analysts are estimating that restoring normal shipments could take as long as two years.
China Indexes and Stocks
The Hang Seng Index decreased 1.3% to 26,059.34, and the CSI 300 Index fell 0.1% to 4,730.98.
Sigenergy dropped 7.9% to HK $607.50, and the Shanghai-based solar power systems maker completed its initial public offering and listed its share on the Hong Kong Stock Exchange on Thursday.
Alibaba Group edged up 0.6%, Tencent Holdings decreased 1.8%, and Baidu Inc. fell 1.8%.
Zhongji Innolight advanced 5.2% and Foxconn Industrial added 2.9%, outperforming, while Kweichow Moutai decreased 3.6% and Contemporary Amperex eased 2.2%.
U.S. Movers: J.B. Hunt, PepsiCo, PPG, Taiwan Semiconductor
Scott Peters
16 Apr, 2026
New York City
J.B. Hunt Transport Services advanced 2.4% to $228.75 after the trucking and logistics services provider reported better-than-expected first-quarter results.
The logistics company reported earnings of $1.49 a share on revenue of $3.1 billion, surpassing market expectations.
Taiwan Semiconductor declined 1.7% to $368.56, and the advanced chipmaker reported a 58% jump in earnings in its latest quarter.
Revenue in the March quarter jumped 35% to a record high of NT $1.14 trillion, and net income surged 58% to a record high of NT $572.5 billion.
In U.S. dollars, first quarter revenue was $35.90 billion, an increase of 40.6% from a year ago and 6.4% from the previous quarter.
The Taiwan-based company estimated second-quarter revenue to range between $39.0 and $40.2 billion and operating profit margin between 56.5% and 58.5%.
PepsiCo jumped 1.3% to $156.89 after the snack and beverage company's first-quarter results surpassed market estimates.
Revenue increased 8.5% to $19.4 billion from $17.9 billion, net income advanced to $2.3 billion from $1.8 billion, and diluted earnings per share rose 27% to $1.70 from $1.33 a year ago.
Net revenue increased 8.5% due to a 3.4 percentage-point benefit from foreign exchange translation, 2.6% organic revenue growth, and a 2.5 percentage-point net benefit from acquisitions and divestitures.
PPG Industries advanced 4% to $112.00 after the paint coating manufacturing company announced a global price increase of 20% across all its product lines.
U.S. Movers: J.B. Hunt, PepsiCo, PPG, Taiwan Semiconductor
Scott Peters
16 Apr, 2026
New York City
J.B. Hunt Transport Services advanced 2.4% to $228.75 after the trucking and logistics services provider reported better-than-expected first-quarter results.
The logistics company reported earnings of $1.49 a share on revenue of $3.1 billion, surpassing market expectations.
Taiwan Semiconductor declined 1.7% to $368.56, and the advanced chipmaker reported a 58% jump in earnings in its latest quarter.
Revenue in the March quarter jumped 35% to a record high of NT $1.14 trillion, and net income surged 58% to a record high of NT $572.5 billion.
In U.S. dollars, first quarter revenue was $35.90 billion, an increase of 40.6% from a year ago and 6.4% from the previous quarter.
The Taiwan-based company estimated second-quarter revenue to range between $39.0 and $40.2 billion and operating profit margin between 56.5% and 58.5%.
PepsiCo jumped 1.3% to $156.89 after the snack and beverage company's first-quarter results surpassed market estimates.
Revenue increased 8.5% to $19.4 billion from $17.9 billion, net income advanced to $2.3 billion from $1.8 billion, and diluted earnings per share rose 27% to $1.70 from $1.33 a year ago.
Net revenue increased 8.5% due to a 3.4 percentage-point benefit from foreign exchange translation, 2.6% organic revenue growth, and a 2.5 percentage-point net benefit from acquisitions and divestitures.
PPG Industries advanced 4% to $112.00 after the paint coating manufacturing company announced a global price increase of 20% across all its product lines.
U.S. Stocks Set to Extend 2-Week Rally Amid Hopes for Iran War's End
Barry Adams
16 Apr, 2026
New York City
Stocks on Wall Street retained an upward bias amid expectations that a potential deal between Iran and the U.S. is likely to materialize as early as this week.
The S&P 500 Index edged up 0.1%, and the tech-heavy Nasdaq Composite inched higher 0.2% as investors held out for the shipments of energy products through the Strait of Hormuz.
Benchmark indexes recovered more than 10% over the last twelve trading sessions, erasing losses since the start of war on Iran at the end of February.
West Texas Intermediate crude oil prices edged up 0.4% to $91.67 a barrel, and the international benchmark, Brent crude, advanced 1% to $95.82 a barrel.
Despite the brewing enthusiasm, investor sentiment remained fragile amid ongoing uncertainties over Persian Gulf energy production and shipments.
Higher energy prices have begun to ripple through the broader U.S. economy as retailers raise prices of food and chemical and paint makers pass on higher energy prices to consumers.
U.S. Movers
J.B. Hunt Transport Services advanced 2.4% to $228.75 after the trucking and logistics services provider reported better-than-expected first-quarter results.
The logistics company reported earnings of $1.49 a share on revenue of $3.1 billion, surpassing market expectations.
Taiwan Semiconductor declined 1.7% to $368.56, and the advanced chipmaker reported a 58% jump in earnings in its latest quarter.
Revenue in the March quarter jumped 35% to a record high of NT $1.14 trillion, and net income surged 58% to a record high of NT $572.5 billion.
In U.S. dollars, first quarter revenue was $35.90 billion, an increase of 40.6% from a year ago and 6.4% from the previous quarter.
The Taiwan-based company estimated second-quarter revenue to range between $39.0 and $40.2 billion and operating profit margin between 56.5% and 58.5%.
PepsiCo jumped 1.3% to $156.89 after the snack and beverage company's first-quarter results surpassed market estimates.
Revenue increased 8.5% to $19.4 billion from $17.9 billion, net income advanced to $2.3 billion from $1.8 billion, and diluted earnings per share rose 27% to $1.70 from $1.33 a year ago.
Net revenue increased 8.5% due to a 3.4 percentage-point benefit from foreign exchange translation, 2.6% organic revenue growth, and a 2.5 percentage-point net benefit from acquisitions and divestitures.
PPG Industries advanced 4% to $112.00 after the paint coating manufacturing company announced a global price increase of 20% across all its product lines.
U.S. Stocks Set to Extend 2-Week Rally Amid Hopes for Iran War's End
Barry Adams
16 Apr, 2026
New York City
Stocks on Wall Street retained an upward bias amid expectations that a potential deal between Iran and the U.S. is likely to materialize as early as this week.
The S&P 500 Index edged up 0.1%, and the tech-heavy Nasdaq Composite inched higher 0.2% as investors held out for the shipments of energy products through the Strait of Hormuz.
Benchmark indexes recovered more than 10% over the last twelve trading sessions, erasing losses since the start of war on Iran at the end of February.
West Texas Intermediate crude oil prices edged up 0.4% to $91.67 a barrel, and the international benchmark, Brent crude, advanced 1% to $95.82 a barrel.
Despite the brewing enthusiasm, investor sentiment remained fragile amid ongoing uncertainties over Persian Gulf energy production and shipments.
Higher energy prices have begun to ripple through the broader U.S. economy as retailers raise prices of food and chemical and paint makers pass on higher energy prices to consumers.
U.S. Movers
J.B. Hunt Transport Services advanced 2.4% to $228.75 after the trucking and logistics services provider reported better-than-expected first-quarter results.
The logistics company reported earnings of $1.49 a share on revenue of $3.1 billion, surpassing market expectations.
Taiwan Semiconductor declined 1.7% to $368.56, and the advanced chipmaker reported a 58% jump in earnings in its latest quarter.
Revenue in the March quarter jumped 35% to a record high of NT $1.14 trillion, and net income surged 58% to a record high of NT $572.5 billion.
In U.S. dollars, first quarter revenue was $35.90 billion, an increase of 40.6% from a year ago and 6.4% from the previous quarter.
The Taiwan-based company estimated second-quarter revenue to range between $39.0 and $40.2 billion and operating profit margin between 56.5% and 58.5%.
PepsiCo jumped 1.3% to $156.89 after the snack and beverage company's first-quarter results surpassed market estimates.
Revenue increased 8.5% to $19.4 billion from $17.9 billion, net income advanced to $2.3 billion from $1.8 billion, and diluted earnings per share rose 27% to $1.70 from $1.33 a year ago.
Net revenue increased 8.5% due to a 3.4 percentage-point benefit from foreign exchange translation, 2.6% organic revenue growth, and a 2.5 percentage-point net benefit from acquisitions and divestitures.
PPG Industries advanced 4% to $112.00 after the paint coating manufacturing company announced a global price increase of 20% across all its product lines.
China's Economic Growth Accelerated to 5% In First Quarter Despite Middle East Tensions
Li Chen
16 Apr, 2026
Hong Kong
Stocks in mainland China and Hong Kong rebounded and approached a four-year high supported by upbeat economic data and optimism over the U.S.-Iran negotiations.
The Hang Seng Index advanced 1.5%, and the mainland-focused CSI 300 Index edged up 0.8% after the statistics bureau released an economic growth update.
China's economy expanded 5% from a year ago in the first quarter, accelerating from 4.5% in the previous quarter, according to the National Bureau of Statistics.
So far the economy has managed to absorb supply disruptions and energy-driven inflation, but the weakness in retail sales and consumer sentiment kept the economic growth uneven.
The sharp slowdown in export growth is likely to worsen in the current quarter amid ongoing tensions in the Middle East and uncertainties related to the U.S. tariffs.
China's Persistent Residential Price Deflation Extended to March
China's new home prices across 70 cities fell 3.4% from a year ago in March, according to a separate report by the statistical agency.
New home prices fell for the 33rd month in a row, despite Beijing's policy support and financial incentives from the People's Bank of China.
Prices declined in Beijing by 2.1% compared to 2.3%; in Guangzhou, dropped by 4.7% compared to 5.1%; in Shenzhen, 5.5% compared to 5.5%; in Chongqing, by 4.4% compared to 3.8%; and in Tianjin, by 4.8% compared to 4.2% in February, respectively.
However, prices in Shanghai rose at a slower rate of 3.7% compared to 4.2% in February.
China Indexes and Stocks
The Hang Seng Index increased 1.5% to 26,339.60, and the mainland-focused CSI 300 Index edged up 0.8% to 4,723.88.
Sigenergy Technology soared more than 90% to HK $623.00 after the Shanghai-based integrated solar power system provider for households raised its initial public offering price at HK $324 per share.
The company sold 13.57 million shares and raised HK$4.4 billion in gross proceeds.
Alibaba Group soared 5%, Tencent Holdings advanced 3%, and Baidu Inc. jumped 7.5%.
China's Economic Growth Accelerated to 5% In First Quarter Despite Middle Eas
Li Chen
16 Apr, 2026
Hong Kong
Stocks in mainland China and Hong Kong rebounded and approached a four-year high supported by upbeat economic data and optimism over the U.S.-Iran negotiations.
The Hang Seng Index advanced 1.5%, and the mainland-focused CSI 300 Index edged up 0.8% after the statistics bureau released an economic growth update.
China's economy expanded 5% from a year ago in the first quarter, accelerating from 4.5% in the previous quarter, according to the National Bureau of Statistics.
So far the economy has managed to absorb supply disruptions and energy-driven inflation, but the weakness in retail sales and consumer sentiment kept the economic growth uneven.
The sharp slowdown in export growth is likely to worsen in the current quarter amid ongoing tensions in the Middle East and uncertainties related to the U.S. tariffs.
China Indexes and Stocks
The Hang Seng Index increased 1.5% to 26,339.60, and the mainland-focused CSI 300 Index edged up 0.8% to 4,723.88.
Sigenergy Technology soared more than 90% to HK $623.00 after the Shanghai-based integrated solar power system provider for households raised its initial public offering price at HK $324 per share.
The company sold 13.57 million shares and raised HK$4.4 billion in gross proceeds.
Alibaba Group soared 5%, Tencent Holdings advanced 3%, and Baidu Inc. jumped 7.5%.
Ten-Day Rally On Wall Street Faces Skepticism In Energy Markets
Barry Adams
15 Apr, 2026
New York City
Stocks on Wall Street meandered and struggled to extend a ten-day rally as investors held out for a diplomatic solution to the Persian Gulf conflict.
The S&P 500 Index and the Nasdaq Composite were nearly unchanged, and the yield on the 10-year U.S. Treasury note edged up to 4.27%.
The two widely followed benchmarks erased losses since the start of the U.S.-Iran war, and they approached close to record highs powered by the latest rally.
Crude oil prices jumped 1% to $92.08 a barrel in New York and gained 0.9% to $95.71 a barrel in London trading amid hopes of de-escalation in tensions in the Persian Gulf.
Since the start of the war on Iran, shipments of energy products have been disrupted through the Strait of Hormuz, driving up crude oil prices by more than 60% and jet fuel prices by more than 100%.
Benchmark indexes in New York, Tokyo, Frankfurt, London, and Paris have rebounded over the last two weeks, erasing nearly a 10% decline between February 28 and March 30.
U.S. Movers
Bank of America increased 1% to $53.82, and the financial services provider reported better-than-expected results in the first quarter.
The bank earned $1.11 per share on revenue of $30.4 billion, surpassing market expectations.
Morgan Stanley advanced 2.7% to $188.30 after the investment bank and asset manager reported better-than-expected first-quarter results.
The financial service provider earned $3.43 per share on $20.6 billion in revenue, significantly ahead of market expectations.