US stocks extended Monday’s rebound on Tuesday, April 14, 2026, as easing oil prices and renewed optimism around U.S.–Iran talks intersected with a powerful early read on bank earnings.
Index moves and macro tone
- The S&P 500 climbed roughly 1.18% as investors leaned back into risk, with the index now effectively retracing much of its war-related drawdown.
- The Nasdaq outperformed, rising around 1.96% as tech leadership reasserted itself, helped by fading geopolitical tail risk and the view that software and AI plays are less directly exposed to a Middle East supply shock.
- The Dow lagged but still finished higher, up about 0.66%, reflecting its lower tech weight and some give‑back in energy and defensive winners.
- The small caps on the Russell 2000 raise 1.32% to close at 2,705.67.
Geopolitics, oil, and rates
- President Trump signaled he is open to further negotiations with Iran and indicated that “the right people” have reached out to work out a deal, helping investors look past the failure of last weekend’s talks in Islamabad.
- Hopes that the April 7 ceasefire can be extended into a more durable agreement, even as the U.S. naval blockade of Iranian ports enters its second day, eased fears of an extended oil supply shock.
- Crude prices slid back below the psychologically important 100 level, with WTI down roughly 6.94% toward the low‑90s and Brent off about 4% in the mid‑90s, taking some pressure off inflation expectations and allowing the 10‑year Treasury yield to edge lower toward the mid‑4.20s.
Earnings season: banks in focus
- The tape is now firmly in earnings mode, with the big money‑center banks setting the early tone for Q1.
- JPMorgan reported a roughly 13% profit increase, with CEO Jamie Dimon emphasizing that the economy faces an “increasingly complex set of risks” even as the franchise continues to print robust returns.
- BlackRock (BLK, $1,054.56, +3.02%), Wells Fargo, and Citigroup also delivered better‑than‑expected results, reinforcing the message that credit quality remains manageable and market‑sensitive fee income is holding up.
- Investors now pivot to upcoming prints from Bank of America and Morgan Stanley later in the week as the next key tells on loan demand, trading, and capital markets activity.
Sector and factor dynamics
- Technology led the advance, with AI‑linked names and large‑cap platforms back in favor; Nasdaq heavyweights such as Nvidia, Amazon ($249.02, +3.81%), Microsoft, and other megacaps posted solid gains, helping pull the growth complex higher.
- In Asia earlier, a 4%+ surge in the MSCI Asia Pacific tech index, record highs in Taiwan, and a double‑digit jump in Kioxia highlighted how AI and semis remain the preferred way to play through the Iran overhang.
- Energy stocks, which had been key beneficiaries of the conflict premium, came under pressure as crude rolled over, while gold caught a bid again after two down days, trading near the lofty 4,775 level as hedging demand stayed resilient.
- Crypto risk appetite stayed hot, with Bitcoin hovering in the mid‑$74,000s, underscoring that liquidity and speculative sentiment remain intact despite macro and geopolitical crosscurrents.
PPI: inflation still sticky at the factory gate
The March Producer Price Index landed right in the “uncomfortable but not catastrophic” zone for markets. Headline PPI rose 0.5% month over month, matching February’s pace, while year‑over‑year wholesale inflation accelerated to 4.0%, the hottest print in roughly three years. Core PPI (stripping out food and energy) was more reassuring on a monthly basis, up just 0.1%, but it is still running near the high‑3% range year over year, underscoring that pipeline price pressures have not fully cooled.
Under the hood, the story was all about energy: prices for final demand goods jumped 1.6% on the month, driven by a roughly 8.5% surge in energy costs and a double‑digit spike in gasoline, while prices for services were flat.
Big-picture setup
- Strategists highlighted that recent downside in the S&P 500 increasingly looks like a completed correction, with some high‑profile voices suggesting the lows for the year may already be in as the market prices an eventual resolution to the Iran conflict.
- The near‑term playbook now revolves around three pillars: progress (or not) on U.S.–Iran ceasefire negotiations, the breadth and quality of bank and megacap tech earnings, and how quickly falling oil bleeds into calmer inflation expectations and a less hawkish Fed narrative.
VP Watchlist Updates
Below is an update‑style snapshot on the VP Watchlist names for the week, focused on recent catalysts, positioning, and narrative rather than precise price moves.
Broadcom (AVGO, $380.78, +.27%)
Broadcom’s latest AI alliance with Google parent Alphabet Inc. (GOOGL, GOOG) and Anthropic is less a routine chip deal and more a declaration that the quiet power behind the cloud plans to stay loud for the next decade. The three-way pact locks in custom AI silicon and multi‑gigawatt compute capacity that could reshape who really controls the tollbooths on the generative AI superhighway.
Eupraxia Pharmaceuticals (EPRX, $7.22, +.56%)
Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, co-hosted a Tribe Public www.TribePublic.com, CEO Presentation & Q&A Webinar event, Wednesday, April 1 titled “Turning EOE Into a Once-a-Year Appointment.” The event featured James A. Helliwell, M.D., Co‑founder and CEO of Eupraxia Pharmaceuticals (NASDAQ: EPRX), who discusses the company’s precision drug‑delivery platform, its approach to Eosinophilic Esophagitis (EoE), and broader pipeline priorities, followed by a focused 5–10 minute Q&A. You may watch it now at this Youtube link.
Eupraxia announced (March 17) positive symptom data from patients in the two highest dose cohorts from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). “We are very pleased to see such a meaningful symptom response at 24 weeks in the highest dose of the Phase 1b/2a portion of the RESOLVE study,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “We believe this type of response based on a single administration procedure would represent a compellingly different option for EoE patients. Importantly, the response that we are observing across cohorts 4-9 has increased as patients progress through the study through to week 24. We believe this demonstrates the importance of stable, continuous long-term local steroids in tamping down signs of inflammation quickly and acting on fibrosis in the longer term. Also, as previously reported, we continue to be encouraged by the safety profile that we have observed with EP-104GI. Currently, with 31 patients dosed in the Phase 1b/2a study, and over 220 months of follow up, there have been no reported serious adverse events.”
Modular Medical (MODD, $4.81, +7.13%)
- Modular Medical’s latest regulatory milestone upgrades the narrative: the company has now secured FDA 510(k) clearance for its Pivot tubeless insulin patch pump, moving from “launch‑ready” to “launch‑approved” in the heart of the fast‑growing diabesity market. The FDA has cleared Modular Medical’s Pivot patch pump as a tubeless, removable insulin delivery system, formally validating the device’s design and performance for commercial use in U.S. adults living with diabetes. The clearance converts what had been a Q1 2026 launch “subject to FDA response” into a tangible commercial pathway, giving the company permission to sell into an insulin pump market that has been estimated at roughly 8 billion dollars globally. Pivot is engineered as a simplified, two‑part patch pump with a 3‑milliliter removable reservoir, no need for battery recharging, and the ability to bolus without a dedicated controller, aiming squarely at patients who have stayed on multiple daily injections because traditional pumps felt too complex, cumbersome, or costly. By clearing Pivot, the FDA is effectively endorsing Modular Medical’s attempt to make advanced insulin delivery feel less like adopting a gadget and more like upgrading a daily habit.
The InterGroup Corporation (INTG, $35.82, +1.04%)
- InterGroup Corporation delivered (Feb. 17) a notably stronger quarter, highlighted by a 20% jump in total revenue to $17.3 million and a 27% surge in hotel revenue as renovated rooms returned to service and travel demand improved. The company swung from a prior-year net loss to $1.0 million in net income, with operating income more than doubling to $2.0 million, underscoring better cost control and improved operating efficiency. Management further enhanced liquidity and sharpened strategic focus by selling a non-core 12‑unit Los Angeles multifamily property, generating a meaningful gain and additional working capital while maintaining stable performance across its real estate portfolio.
Volato Group, Inc. (SOAR, +6.46%) & M2i Global, Inc. (MTWO, +.66%)
- Volato Group, Inc. (NYSE American: SOAR) (the “Company” or “Volato”) and M2i Global, Inc. (OTCQB: MTWO) (“M2i Global”) today (April 13) announced that the U.S. Securities and Exchange Commission has declared effective the Registration Statement on Form S-4 (File No. 333-292132) relating to Volato’s proposed merger with M2i Global, formally advancing the transaction into its shareholder approval and closing phases. Volato is proceeding with distribution of the definitive proxy statement/prospectus and a special meeting of shareholders is expected to be held on May 7, 2026. Shareholders of record as of April 17, 2026 will be entitled to vote on the proposed transaction.
- flyExclusive (NYSE American: FLYX), the vertically integrated private aviation company, announced (March 25) two milestones in its proprietary technology development: the filing of a utility patent application for a novel aircraft schedule optimization architecture, and the availability of Contrails, its Flight Management System, to other Part 135 operators beginning in Q2 2026. Both announcements coincide with the company’s presence at the NBAA Schedulers & Dispatchers Conference 2026 in Cleveland. “We have spent years building flyExclusive into one of the most operationally capable private aviation companies in the country. Contrails is how we make that expertise available to the broader industry—and the intellectual property behind it reflects the depth of investment we have made in solving problems that matter to every serious operator. We believe the right technology, built by people who actually run flights, changes what is possible in this industry. Today we are unable to source lift for nearly 300 trip requests per day. We believe Contrails will allow us to address that demand far more efficiently—both within our own operation and through coordination with other operators—and that represents a material revenue opportunity for flyExclusive and for all participating operators.”
- Volato Group, Inc. announced (March 10) that it has entered into an amendment to its Aircraft Management Services Agreement with flyExclusive, Inc. (“FLYX”) providing for the sale of certain legacy intellectual property assets. The agreement provides for consideration valued at approximately $1.3 million, payable in FLYX Class A common stock, subject to customary conditions. The assets relate to legacy intellectual property developed during earlier stages of the Company’s technology initiatives and are not part of Volato’s current operating platforms. Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.
- On Feb. 4, M2i Global,Inc.along with Volato Group, Inc. announced that Titanium X has initiated its first shipment of titanium ore from Western Australia to the U.S. under its collaboration agreement.
NVIDIA (NVDA, $196.51, +3.80%) (NOK, $10.35)
- On April 13, Vistance Networks (NASDAQ: VISN, $19.30, +1.74%), a global provider of intelligent network solutions, today shared that RUCKUS® Networks and Nokia announced early access availability to a combined solution, allowing customers to accelerate adoption of their integrated Wi-Fi 7 and Fiber Optical Lan Solution.
- In an AI market obsessed with GPUs and stardust, Nokia (NOK) is quietly reminding investors that none of this magic moves without serious plumbing. While Nvidia (NVDA) prepares to headline its GTC 2026 “Woodstock of AI” showcase, the chip giant has already written a very real check to Nokia, committing a $1 billion investment to help rewire the world’s networks for 5G‑Advanced, 6G, and AI‑native workloads. The message is simple enough: GPUs may be the new rock stars, but networking is the stadium.
- Nvidia delivered strong fourth-quarter results recently, posting revenue of $68.1 billion, well above analyst expectations. Looking ahead, the company projects $7.8 billion in revenue for the first quarter of 2026, reflecting continued robust demand for its AI chips even amid broader market headwinds.
- NVIDIA and Nebius Group N.V. (NASDAQ: NBIS) (March 11) announced a strategic partnership to develop and deploy the next generation of hyperscale cloud for the AI market, from AI natives to enterprises. NVIDIA will invest $2 billion in Nebius.
McDonald’s (MCD, $303.22`)
- On April 6, McDonald’s Türkiye reinterprets a globally recognized message with a creative twist in its new campaign inspired by increased travel during holiday periods. Developed for out-of-home, digital, and print channels, the ‘Drink & Drive’ campaign positions McCafé® around the idea of alertness and attentiveness while driving. The brand’s iconic Golden Arches are also transformed into a bold road line, symbolizing the driver’s focus on challenging journeys.
Opendoor (OPEN, $4.51, +3.32%)
- Opendoor Technologies, a leading e-commerce platform for residential real estate transactions, reported financial results for its fourth quarter and year ended December 31, 2025. They highlighted the following: October 2025 acquisition cohort tracking as best-performing October in Company history; acquisitions increased 46% quarter-over-quarter while inventory days in possession reduced 23%.
- Opendoor continues to navigate a challenging housing backdrop characterized by still‑elevated mortgage rates and tight existing‑home inventories, which weigh on transaction volumes even as affordability slowly improves. The company’s focus on disciplined acquisition spreads, inventory turns, and ancillary services remains central to the investment debate as markets handicap the pace and magnitude of any 2026 housing recovery.
Tesla (TSLA, $364.20, +3.34%)
Elon Musk’s latest Texas-sized ambition is to build his own AI chip empire, and this time the factory floor will sit right next to the robots, rockets, and robotaxis that plan to use it. The Terafab project, a new semiconductor venture linking Tesla (TSLA), SpaceX, and xAI in Austin, aims to churn out custom chips for AI, humanoid robots, and space systems at a scale that makes today’s GPU land rush look like a warm‑up act. Learn more here.
There are open secrets on Wall Street, and then there is SpaceX’s long‑anticipated march toward the public markets, now reportedly via a confidential filing with the SEC that could set up a June debut. For a company that routinely broadcasts rockets into orbit, it is taking a decidedly hush‑hush approach to its paperwork
Serina Therapeutics (NYSE: SER, $1.93)
Serina Therapeutics (NYSE: SER) (www.serinatx.com) seems to have have just traded itself into Wall Street’s good graces, pairing fresh capital with a late-session pop that suggests investors are finally starting to connect the dots between polymer chemistry and portfolio returns. In Huntsville, Alabama, Serina Therapeutics announced definitive agreements for a private placement of common stock and pre-funded warrants that could bring in up to 30 million dollars in gross proceeds. The first 15 million dollar tranche is expected to close on March 20, 2026, with a second tranche of up to 15 million dollars anticipated by April 30, 2026, subject to customary closing conditions.
What makes the deal stand out in a biotech tape crowded with discounts is the pricing: the securities are being sold at about 2.25 dollars per share, a roughly 68 percent premium to Serina’s March 17 closing price, signaling that insiders are willing to pay up for exposure to the company’s clinical agenda. The financing also adds board-level heft, with director Greg Bailey, M.D., stepping into a Co-Chairman role as he leads the investment, a move that effectively puts the capital and the governance on the same optimistic page. Learn more here.
GeoVax Labs (GOVX, $1.34, +4.69%)
- GeoVax Labs, Inc. (Nasdaq: GOVX), a clinical-stage biotechnology company developing vaccines and immunotherapies against infectious diseases and cancer, today (April 14) highlighted the urgent challenges caused by the supply-constrained, global orthopoxvirus vaccine market and outlined the strategic positioning of its GEO-MVA vaccine candidate to address the limited supply and increasing global demand. David Dodd, Chairman and Chief Executive Officer of GeoVax, commented, “The mpox and smallpox vaccine market is not a future construct, it is an active, procurement-driven market with recurring demand and increasing strategic importance. It is also a market currently defined by supply concentration and limited surge capacity.” Mr. Dodd added, “We believe that, if approved, GEO-MVA, which is expected to begin a pivotal Phase 3 trial this year, is positioned to enter this market as a second-source MVA vaccine at a time when governments and global health organizations are actively seeking to diversify supply and strengthen preparedness. Our focus is on executing the next phase of development and aligning GEO-MVA with procurement frameworks that support both long-term stockpiling and rapid response capabilities.”
The Sources
- Yahoo Finance – “Dow, S&P 500, Nasdaq rise amid Iran deal hopes, earnings rush”
https://uk.finance.yahoo.com/news/stock-market-today-dow-sp-500-nasdaq-rise-amid-iran-deal-hopes-earnings-rush-225637251.htmlfinance.yahoo - Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq futures mixed amid Iran deal hopes, earnings rush”
https://finance.yahoo.com/markets/stocks/article/stock-market-today-dow-sp-500-nasdaq-futures-mixed-amid-iran-deal-hopes-earnings-rush-225637251.htmlfinance.yahoo - Investing.com – “Hopes for Iran peace talks progress; bank earnings ahead – what’s moving markets”
https://in.investing.com/news/economy-news/hopes-for-iran-peace-talks-progress-bank-earnings-ahead–whats-moving-markets-5335957investing - Moneycontrol – “Dow Jones, NASDAQ, S&P 500, US Market News”
https://www.moneycontrol.com/us-markets/moneycontrol - MarketWatch – “U.S. Market Data”
https://www.marketwatch.com/market-data/usmarketwatch - CNBC – “Lows are in for the year for the S&P 500, says Morgan Stanley CIO”
https://www.cnbc.com/video/2026/04/14/sp500-lows-are-in-for-the-year-for-the-sp-500-says-morgan-stanley-cio-mike-wilson.htmlcnbc - Tickmill – “Daily Market Outlook, April 14, 2026”
https://www.tickmill.com/blog/daily-market-outlook-april-14-2026tickmill - Zacks – “PPI Wholesale Inflation Highest in 3 Years – April 14, 2026”
https://www.zacks.com/stock/news/2899889/ppi-wholesale-inflation-highest-in-3-yearszacks - Bureau of Labor Statistics – “Producer Price Indexes – March 2026 (News Release)”
https://www.bls.gov/news.release/ppi.nr0.htmbls - BLS PPI Home – “Producer Price Index Home”
https://www.bls.gov/ppi/bls - Trading Economics – “United States Producer Prices Change”
https://tradingeconomics.com/united-states/producer-prices-changetradingeconomics - Investing.com – “United States Producer Price Index (PPI) YoY”
https://www.investing.com/economic-calendar/ppi-734investing - CNN Business – “Wholesale inflation rose in March to three year-high”
https://www.cnn.com/2026/04/14/economy/us-ppi-wholesale-inflation-marchcnn - FRED – “Producer Price Index by Commodity: All Commodities (PPIACO)”
https://fred.stlouisfed.org/series/PPIACOfred.stlouisfed - Yahoo Finance – “PPI Comes in Hot: +0.7%, +3.9% Core YoY”
https://finance.yahoo.com/news/ppi-comes-hot-0-7-143100031.htmlfinance.yahoo
