Daily Briefing
Market Recap
Thursday, April 9, 2026
US-Iran Two-Week Ceasefire Sends Dow Up 1,200 Points — Oil Drops from $115 to $109
The US and Iran agreed to a two-week ceasefire Wednesday morning, easing fears of a prolonged Strait of Hormuz closure. Brent crude fell from $115.85 to around $109/bbl. The Dow surged over 1,200 points pre-market (+2.65%), the S&P 500 futures gained 2.66%, and the Nasdaq futures rose 3.47%. Gold slipped to $4,827 as risk appetite returned. The ceasefire is a 45-day framework deal with talks continuing on a permanent resolution.
Get the full story in the newsletter →Delta Air Lines Beats Q1 EPS by 12% — Stock Up 13% Despite $2B Fuel Spike
Delta Air Lines (DAL) reported Q1 2026 EPS of $0.64, beating the $0.57 consensus by 12.21%. Revenue came in at $15.85B. The company absorbed a $2 billion increase in fuel costs during the quarter yet maintained its Q2 revenue growth and operating margin guidance. The stock surged 13.07% in pre-market trading, helped by both the earnings beat and the US-Iran ceasefire news that pushed jet fuel prices lower. DAL's earnings call is live at 10 AM EDT today.
Get the full story in the newsletter →Levi Strauss Beats and Raises — Stock Up 12.65% Pre-Market
Levi Strauss (LEVI) reported Q1 2026 EPS of $0.42, beating the $0.37 consensus by 13.5%. Revenue was $1.74B. The company raised its full-year 2026 guidance, citing strong global sales growth. The stock jumped 12.65% in pre-market trading to $22.20. Needham reiterated its Buy rating with a $28 price target. The 517 jeans line saw a notable sales boost driven by cultural tailwinds.
Get the full story in the newsletter →STZ Reports Tonight — Constellation Brands Q1 EPS Est. $1.71, Revenue ~$2.1B
Constellation Brands (STZ) reports Q1 2026 earnings after the close tonight. The consensus estimate is $1.71 EPS on approximately $2.1B in revenue. Analysts are watching for commentary on beer volume trends, the impact of tariffs on Mexican imports, and any update to full-year guidance. STZ shares closed at $173.15 on Tuesday. RPM International (RPM) and Driven Brands (DRVN) both reported this morning before the open.
Get the full story in the newsletter →Q1 2026: S&P 500's Worst Quarter Since 2022 — Down 4.4% on Energy Shock
The S&P 500 fell 4.4% in Q1 2026, its worst quarterly performance since Q2 2022. The Nasdaq dropped 7.0% and the Dow slid 3.2%. Brent crude surged 95% in the quarter to $118/bbl after the Strait of Hormuz closed — the largest quarterly oil gain since 1990. Energy was the only sector to gain, up 34%. Rate-cut odds collapsed from 80% probability to under 5% as $100+ oil undermined the case for Fed easing. Wall Street projects ~17% YoY S&P 500 Q1 earnings growth.
Get the full story in the newsletter →Get the full daily briefing
5 market stories + earnings calendar + biggest movers, every morning. Free.
Subscribe Free