Your Evening Briefing

April 13, 2026

Stocks gain after Trump orders Hormuz blockade, says Iran wants to make a deal

The S&P 500, the Nasdaq, and the Russell 2000 managed a positive start to the week, shaking off a surge in the price of oil that was prompted by President Trump’s order to blockade the Strait of Hormuz after peace talks between the US and Iran over the weekend failed to deliver a deal.

The President said in a Truth Social post that the US Navy would block “any and all Ships trying to enter, or leave, the Strait of Hormuz.” US Central Command later confirmed the blockade would begin Monday and that only vessels transiting the strait to and from Iranian ports would be impeded.

On Monday morning at the White House, Trump said Iran had reached out to the US regarding a peace deal.

Stocks that moved higher:

Neoclouds CoreWeave, Nebius, IREN, Cipher Digital, and Applied Digital surged as Anthropic’s deals mean the scramble for compute rolls on.
Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, and PNC Financial all rose ahead of their earnings reports this week.
Beaten-down software stocks Circle, ServiceNow, AppLovin, CrowdStrike, Palantir, Atlassian, and Workday each started the week with gains.
Sandisk soared after news that it would be included in the Nasdaq 100.
Microsoft gained on a report that the company is working on new agentic Copilot features inspired by OpenClaw.
Meta and Google both rose with the market, as new data showed that Meta will surpass Google in ad revenue this year.
Intel rose for the ninth straight session, as the once maligned American tech icon is having its best year since 1987.
Tesla rose on the heels of Friday's news that Dutch regulators had approved the company's supervised Full Self-Driving (FSD) software.
A host of non-software secular growth names like Broadcom, Advanced Micro Devices, Vertiv Holdings, Arista Networks, Nvidia, DoorDash, and Axon rose after Goldman Sachs highlighted their recent underperformance as a potential buying opportunity.

Moving lower:

Replimune Group tanked after the FDA rejected its melanoma treatment for a second time.
Goldman Sachs dipped despite delivering an earnings beat.

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