Morning Preview: April 15, 2026

Early Look

Wednesday, April 15, 2026

After a non-stop rally on Monday and Tuesday, U.S. futures are quiet overnight, looking slightly lower. There is just no quit in the U.S. stock market as the Nasdaq Composite’s advanced nearly 2% on Tuesday, rising for a 10th straight day of gains while the S&P 500 rose 1.2%, putting the broad benchmark within 0.2% below its record-high close on January 27 of 6,978.60 (advanced for the 9^th time in 10 days) with its intraday record high standing at 7,002.28 (reached Jan 28^th). A long cry from the down -10% levels just two weeks ago when oil prices soared along with Treasury yields on the Iran/US war and rising inflation weighed on investors minds. But once again, a quick/sharp “V” shaped rally has brought markets back to highs, led by the heavily weighted technology sector. The semiconductor index (SOX) rose for a 10^th day as well, hitting new all-time highs. Oil prices retreated Tuesday with U.S. WTI crude sliding 7.9% to $91.28 a barrel, the lowest level since March 25 while Brent crude, the international benchmark, dropped 4.6% to $94.79. The moves follow the U.S. and Iran signaling that they see room to continue talking. Wholesale inflation for March came in cooler than expected, offering encouraging signs. In Asian markets, The Nikkei Index advanced 256 points to 58,134, the Shanghai Index was flat at 4,027, and the Hang Seng Index rose 75 points to 25,947. In Europe, the German DAX is flat at 24,044, while the FTSE 100 is up 10 points to 10,618. @Bluekurtic noted on X, “Nasdaq 100 has pulled off a 10-for-10! $NDX is now positive for 10 consecutive days with a 10%+ gain during this rally. This is only the 5th such case since 1985 and the first since 2009. Not many precedents, but the momentum carried into next 4 weeks with a 100% hit rate.” All eyes remain on Iran after President Trump hinted at progress in ending the Iran war in media interviews late Tuesday, saying that peace talks might restart within two days and an extension of the current two-week ceasefire may not be needed.

• The Dow Jones Industrial Average rose 317.74 points, or 0.66%, to 48,535.99
• The Nasdaq Composite surged 455.35 points, or 1.96%, to 23,639.08
• The Russell 2000 Index advanced 35.17 points, or 1.32% to 2,705.67

• 8:30 AM ET NY Empire Fed Manufacturing for April…est. (-0.5)
• 8:30 AM ET                  Import Prices M/M for March…est. +2.0%
• 8:30 AM ET                  Export Prices M/M for March…est. +1.5%
• 10:00 AM ET NAHB Housing Market Index for April…est. 37
• 10:30 AM ET                Weekly DOE Inventory Data
• 4:00 PM ET                   Net Long-term TIC Flows for February

• Earnings After the Close: GSBC HOMB JBHT MIND NKLR SLG

• China Retail Sales, industrial Output for March
• China Q2 GDP

• Walmart (WMT) will redesign its flagship private brand, Great Value, marking its first full brand refresh in more than a decade; said the rebrand reflects its ongoing investment in its private brands, as well as its commitment to evolving alongside consumer preferences.

• China is considering restricting exports of advanced solar panel manufacturing Equipment to the U.S., which could disrupt American clean energy investments and slow efforts to expand domestic solar production, Reuters reported. Such ​a clampdown would risk investments by U.S. firms and set back a race for space-based computing. https://tinyurl.com/2s4w4skd
• SunPower Inc. (SPWR) to restate certain 2025 interim financial statements due to material errors in internal control over financial reporting; estimates for thirty-nine weeks ended September 28, 2025, a decrease in revenues of $13M.

• M&T Bank (MTB) Q1 EPS $4.13 vs. consensus $4.01; Q1 CET1 capital ratio 10.33%; interest income rose nearly 3.4% to $1.75B y/y; non-interest income rose roughly 13% to $689M in Q1; the bank set aside $140 million in provisions for credit losses.
• Pimco has purchased all $400 million of bonds issued by a Blue Owl Capital private credit fund, Bloomberg News reported on Tuesday, citing people familiar with the matter. The bonds, which mature in September 2028 and were priced to yield 6.5%, were sold by publicly traded fund Blue Owl Capital Corp (OBDC). The bonds were rated Baa2 by Moody’s Ratings, BBB- by S&P Global Ratings, and BBB by Fitch Ratings.
• Robinhood (HOOD) and Webull (BULL) bounced after yesterday the Securities and Exchange Commission gave the go-ahead for sweeping changes to a restriction on day-trading activity by small investors.

• Revolution Medicines (RVMD) 10.563M share Secondary priced at $142.00
• Spyre Therapeutics (SYRE) 6.5M share Secondary priced at $62.00

• Broadcom (AVGO) and Meta Platforms (META) extended a deal for custom AI processors as the deal now runs until 2029 and will help Meta build out the computing capacity needed for its AI features.
• Gitlab (GTLB) announced a collaboration with Google Cloud to bring agentic DevSecOps to enterprise teams using Vertex AI.
• Nvidia Corp. (NVDA) unveiled a suite of new open-source AI models aimed at accelerating progress within quantum computing. Nvidia’s new Ising artificial intelligence model, which launched late Tuesday in Asia, has renewed expectations that AI can improve quantum computing and make it scalable and more useful. (watch shares of US quantum names like IONQ, RGTI, QMCO, QBTS).
• Snap Inc (SNAP) said it would lay off around 16% of its workforce, weeks after activist investor Irenic Capital Management pushed the Snapchat parent to optimize its portfolio and improve performance; estimates Q1 2026 revenue of $1.529B and adj EBITDA of $233M and estimates pre-tax charges of $95M-$130M.
• Spok Holdings (SPOK) announced a strategic realignment designed to reduce costs and sharpen operational focus across its go-to-market functions. These actions will enable the Company to direct resources toward continued investment in its Care Connect Suite and artificial intelligence initiatives.
• TeraWulf Inc (WULF) expects Q1 2026 revenue of $30M-$35M vs. consensus of $39.1M and adj EBITDA of $0-$3M; had cash, cash equivalents and restricted cash of $3.1B and total debt of $5.8B; TeraWulf 47.4M share Spot Secondary priced at $19.00 as the deal size was increased to $900M from $800M.
• Software investor Thoma Bravo struck a strategic partnership with Alphabet’s Google Cloud to help the private equity firm’s portfolio companies accelerate their adoption of AI – Bloomberg reported.