Pre-market briefing Pre-Market Briefing for April 6, 2026
Today at a Glance
Market Mood
On the first trading day after the Good Friday holiday, the futures market has opened modestly higher. Nasdaq futures are up +0.38% and S&P 500 futures +0.12%, while Dow futures are flat at -0.09%. Over the weekend, news of a 45-day ceasefire negotiation between the U.S. and Iran pushed oil prices lower (NBC News), leading to a slight recovery in risk appetite. However, President Trump is reported to have issued a new ultimatum demanding the reopening of the Strait of Hormuz (Bloomberg), so the possibility of heightened volatility remains. Asian markets were mixed: the Nikkei +1% and KOSPI +1% rose, while the Hang Seng fell -1%.
Today's Events
There are no major earnings releases scheduled today. Instead, the ISM Services PMI (March), due at 10:00 AM (ET), is the market's biggest focus. This indicator, which reflects services-sector activity, is expected to dip slightly from the prior month's 53.5 to 53.0, and will be the first data point to show how much the oil-price shock from the Iran conflict has affected the services sector. The Employment Trends Index, released at the same time, is also being watched as a supplementary gauge of labor-market health. Later this week, consumer-related earnings are on tap — including $DAL (Delta Air Lines, pre-market Wednesday) and $LEVI (Levi's, after-hours Tuesday) — which should provide a read on how the surge in oil prices has affected the consumer economy.
Recap of the Previous Session
In the prior session (4/2), New York stocks plunged intraday on comments about a prolonged Iran conflict but gave back losses on diplomatic progress around the Strait of Hormuz, ending mixed. S&P 500 +0.11%, Nasdaq +0.18%, Dow -0.13%. Crude oil ($USO) surged +11.15%, the biggest one-day gain since 2020, while $TSLA tumbled on weak Q1 deliveries (-5.44%). On a weekly basis, it was a solid rebound week with S&P +3.4% and Nasdaq +4.4%. View yesterday's market summary
Stocks in Focus
$NVDA (Nvidia): A MACD golden cross was detected yesterday, and five of the Magnificent 7 (including $AAPL, $GOOG, $AMZN) are simultaneously showing bullish-turn signals. Whether the technical rebound in mega-cap tech names takes hold amid extreme fear (Fear & Greed Index of 15) will need to be confirmed in today's session.
$NKE (Nike): RSI has dropped to 20.1, entering extreme-oversold territory, and the stock has broken through the lower Bollinger Band while showing a double-bottom signal. This reflects consumer-sentiment weakness driven by the surge in oil prices, and whether it rebounds may hinge on this week's consumer earnings results (Levi's, etc.).
$INTC (Intel): It surged +4.83% in the prior session, ranking #1 for gainers within the top 100 by market cap, and broke above the upper Bollinger Band. Whether the strength in chip-design names alongside $AMD (+3.50%) continues, or a short-term overheat correction sets in, will be worth watching. Technical Signals Report
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