Market Updates
U.S. Stocks Headed South and Crude Oil Jumped as Fragile US-Iran Truce Appeared to Crack
Barry Adams
09 Apr, 2026
New York City
Benchmark indexes on Wall Street edged lower amid uncertainty over the recently announced two-week cease-fire between the U.S. and Iran.
The S&P 500 index decreased 0.3%, and the tech-heavy Nasdaq Composite fell 0.4% after Israel continued bombing civilian targets in Lebanon.
Iran's parliamentary speaker Mohammad Bagher Ghalibaf accused the U.S. of violating the ceasefire agreement, citing Israel's drone entering Iran's airspace.
West Texas Intermediate crude oil prices jumped 5.3% to $99.37 a barrel, and Brent crude prices soared 4% to $98.49 a barrel as investors remained skeptical about the rebound in energy products shipments through the Strait of Hormuz.
Investor sentiment remained fragile amid worry that hostilities are likely to resume in the Persian Gulf as the U.S. amasses military assets in the region and Israel restocks missiles.
Moreover, Iran is looking for ways to improve its targeting capabilities to energy infrastructure of Qatar, UAE, and Saudi Arabia and extend its missile-target range to 4,000 kilometer.
U.S. Movers
Constellation Brands declined 0.9% to $149.01 after the beer and alcoholic beverage distributor reported fiscal fourth quarter results.
The stock declined after the company's full-year adjusted earnings per share range between $11.20 and $11.90 fell short of market expectations.
Crude oil and energy-related stocks rose following a rebound in oil and gas prices.
Exxon Mobil rose 0.7% to $157.42, Chevron jumped 0.8% to $194.34, and ConocoPhillips advanced 1% to $126.49.
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