Market Wrap US Stock Market Summary for April 1, 2026
Today at a Glance
Market Summary
On the 1st (local time), the first trading day of April, US stocks closed higher for a second straight session on hopes for an end to the Iran conflict. Investor sentiment improved sharply after President Trump said the US would "halt attacks on Iran within 2 to 3 weeks, regardless of whether an agreement is reached." The S&P 500 closed up 0.72% at 6,575.32, the Nasdaq Composite gained 1.16% to 21,840.95, and the Dow Jones rose 0.48% to 46,565.74. The VIX fell 2.65% to 24.58, but the Fear & Greed Index stayed at 16 in the Extreme Fear zone, suggesting underlying investor anxiety has not been fully resolved. Notably, Asian markets staged a strong rebound, with South Korea's KOSPI jumping 8.44% and Japan's Nikkei surging 5.24%, illustrating a clear recovery in global risk appetite.
Sector & Asset Trends
With oil prices plunging on hopes for an end to the Iran conflict, stark divergence emerged across sectors. The energy sector (XLE) posted the steepest decline at -3.74%, while industrials ($XLI, +1.67%) and technology ($XLK, +1.51%) led the upside. Energy majors took a direct hit from the oil-price drop, with ExxonMobil ($XOM, -5.23%) and Chevron ($CVX, -4.59%) all sliding. The semiconductor ETF (SOXX) jumped 3.01%, taking the lead in the tech-stock rally.
In commodities, oil ($USO) fell 2.48% back below $100 a barrel, while gold (GLD) actually rose 1.75%, underscoring that demand for safe-haven assets remains robust. The bond market weakened across the curve, with $TLT (-0.47%) and $IEF (-0.42%) both declining—a combined result of the rotation into risk assets and a wait-and-see mood ahead of President Trump's remarks on Iran.
Major Stock Moves
Semiconductor stocks were the day's standouts. Micron ($MU, +8.88%) surged after being named a Cantor Fitzgerald top pick, and Intel ($INTC, +8.79%) jumped on the news that it is repurchasing Apollo Global Management's 49% stake in their Irish Fab 34 joint venture for $14.2 billion (CNBC). Eli Lilly ($LLY, +3.78%) also posted solid gains.
On the downside, Nike ($NKE, -15.51%) plunged to a nine-year low despite beating 3Q EPS estimates at $0.35 versus consensus of $0.28, as the company guided for a 2–4% revenue decline next quarter and a 20% plunge in China revenue (Yahoo Finance). Philip Morris ($PM, -4.84%) and AT&T ($T, -2.35%) also traded lower.
Technical Signals & Outlook
Today's technical signals show MACD golden crosses appearing broadly across large-cap names including Apple ($AAPL), Amazon ($AMZN), Walmart ($WMT), and Intel ($INTC), suggesting potential upside reversals. However, with the Fear & Greed Index still in extreme-fear territory at 16 and 30 oversold RSI names in play, the sustainability of the rebound hinges on meaningful progress on the Iran situation. View Technical Signals Report
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