Morning Preview: April 17, 2026

Early Look

Friday, April 17, 2026

Another day, another record for the S&P 500 and Nasdaq, with the latter chalking up a remarkable 12 day win streak that has produced a 3,000 point move off the bottom, erasing all the Iran/U.S. war losses. At the same time, the S&P 500 (SPX) has surged over 650 points from its lows during this stretch. Just how remarkable is this historically? Well, @Bluekurtic noted on X, “the S&P 500 took only 12 days to go from oversold to overbought, making this the third fastest move. $SPX forward returns look pretty good 6 months out, positive in 14 of 15 cases.” Thursday’s gains came after U.S. President Trump said Israel and Lebanon had agreed to a 10-day ceasefire, potentially removing an obstacle to a broader peace agreement in the region. Despite worries about global inflation as the Strait of Hormuz remains all but closed, investors expect strong results from companies reporting their quarterly earnings in the next few weeks, which is keeping market expectations high. Overnight, shares of Netflix (NFLX) and Alcoa (AA) both declined following mixed results/guidance. Brent crude approached $100 a barrel Thursday after Gulf Arab and European leaders signaled a US-Iran peace agreement could still be six months away, but oil prices slide over -3% this morning as traders await details of talks between the US and Iran following optimistic comments from President Trump. In Asian markets, The Nikkei Index pulled back from all-time highs, sliding -1,042 points to 58,475, the Shanghai Index slipped -4 points to 4,051, and the Hang Seng Index dropped -233 points to 26,160. In Europe, the German DAX is up 179 points to 24,334, while the FTSE 100 is down -22 points to 10,567. Bitcoin prices hit 10-week highs of $76,336 before paring gains.

• The Dow Jones Industrial Average rose 114.82 points, or 0.24%, to 48,578.54
• The Nasdaq Composite gained 86.69 points, or 0.36%, to 24,102.70
• The Russell 2000 Index advanced 5.95 points, or 0.22% to 2,719.61

• The UK and France will host a summit to discuss setting up a naval force that would ensure freedom of navigation in the Strait of Hormuz, as Europe seeks to rebut US claims that it’s not doing enough to secure the waterway – Bloomberg.
• Global equity funds received a fourth successive weekly inflow in the week through April 15 as upbeat ‌earnings and increased optimism that the Iran war could be resolved ‌more quickly than expected boosted risk appetite. Investors allocated a net of $31.26 billion to global ​equity funds in their largest weekly purchase since March 25, LSEG Lipper data showed – Reuters

• Uber (UBER) is raising its holding in Delivery Hero, buying a stake from its European rival’s biggest shareholder for €270 million ($318 million).

• Knight-Swift Transportation Holdings Inc (KNX) lowers guidance as now sees Q1 2026 adj EPS $0.08-$0.10, down from prior view of $0.28-$0.32; cites negative impact from claims development in less-than-truckload segment, an adverse decision on VAT reimbursement in Mexico, negative impact due to severe winter weather disruptions and impact from project business in our warehousing business included in our All Other Segments being deferred.
• NiSource (NI) announces strategic energy infrastructure agreements to enhance customer value and economic growth in Indiana; says new cost savings expand to approximately $1.25B for existing customers; residential customers expected to save $90-$115 annually.

• Fifth Third (FITB) Q1 revs $2.83B vs. est. $2.84B; Q1 net interest margin 3.30% vs. 3.03% last year; Q1 provisions for credit losses $227M.
• FNB Corp. (FNB) Q1 EPS $0.38 vs est $0.38 on NII $359.278Mm, CET1 capital ratio 11.4%, credit loss provision $18.462Mm, tangible BV/shr $12.06.
• Independent Bank Corp. (INDB) Q1 adj EPS $1.68 vs. est. $1.65; generated a return on average assets and a return on average common equity of 1.31% and 9.02%, respectively, for the first quarter of 2026, as compared to 1.20% and 8.38%, respectively; Q1 net interest margin of 3.90% increased 13 bps q/q; Q1 Deposit balances of $20.1B at March 31, 2026, decreased $29.3M q/q.
• Simmons First National (SFNC) Q1 adj EPS $0.47, in-line with consensus on adj net income $68.6M vs. est. $68.8M; Q1 Net interest margin up 3 bps to 3.84%; cost of deposits down 8 bps to 1.96%; efficiency ratio of 57.56%; adjusted efficiency ratio of 56.16%; Total average deposits up 6% annualized.
• Truist Financial (TFC) Q1 EPS $1.09 vs. consensus $1.00 and revs $5.15B vs. est. $5.18B;

• Lakeland Industries (LAKE) Q4 EPS ($0.61) vs est ($0.21) , adj EBITDA ex FX $1.3Mm on sales $45.8Mm vs est $49.45Mm; says targets FY single digit revenue growth vs est +6.69% and positive cash flow from ops in FY.
• Trevi Therapeutics (TRVI) 11.6M share Spot Secondary priced at $13.00.

• Ericsson (ERIC) posted worse-than-expected Q1 earnings; said increasing chip costs caused by artificial intelligence demand and a sales slowdown in North America weigh on results; Q1 adjusted operating profit of SEK 5.2B ($565.8M) falls short of the SEK 5.4B seen in the company-provided consensus; reports Q1 sales of SEK 49.33B was below consensus.
• In analog semis, NXP Semiconductors (NXPI) downgraded to Underperform from Outperform at Mizuho (tgt to $188 from $255), Texas Instruments (TXN) upgraded to Neutral from Underperform (tgt to $215 from $160) and STMicroelectronics (STM) upgraded to Outperform from Neutral (tgt to $48 from $32).
• Onto Innovation (ONTO) upgraded to buy from hold at Stifel citing the semiconductor manufacturing company’s solid preliminary revenue.
• Qorvo (QRVO) downgraded to Peer Perform from Outperform at Wolfe Research.