Pre-market briefing Pre-Market Briefing — April 10, 2026
Today at a Glance
Market Sentiment
U.S. futures markets are opening flat today. S&P 500 futures are up +0.01% and Nasdaq futures are up +0.07%, while Dow futures are slightly lower at -0.06%. After a seven-session winning streak, investors are taking a wait-and-see stance ahead of the 8:30 AM (ET) CPI release. Asian markets posted broad gains on hopes of an Iran ceasefire. Japan's Nikkei +1.84%, South Korea's KOSPI +1.40%, and China's CSI 300 +1.54% — major Asian indexes are on track for their strongest weekly performance in three years.
Today's Events
March CPI (8:30 ET) — Today's biggest event. Markets expect headline CPI to surge +0.8~0.9% MoM and +3.1~3.7% YoY. A spike in energy prices stemming from the Iran war (projected +10.6% MoM) appears to be pulling inflation higher. Core CPI (ex-food and energy), on the other hand, is expected to remain steady at +0.2% MoM. If CPI exceeds expectations, fading rate-cut hopes could put the brakes on the seven-day winning streak; if it undershoots, it could provide momentum to extend the rally.
University of Michigan Consumer Sentiment preliminary (10:00 ET) will also be released. The March final reading plunged 6% due to the fallout from the Iran war, so the April preliminary figure will reveal whether consumer sentiment is recovering.
Follow-up Iran ceasefire negotiations are scheduled for today in Islamabad. With Pakistan mediating, U.S. and Iranian delegations are set to meet and enter full-scale talks, but the Strait of Hormuz remains effectively closed. Iran is charging transit fees of more than $1 million per vessel, suggesting that it will take time for energy supply to normalize.
There are no major earnings releases today. Bank earnings season kicks off in earnest next week: Monday (4/13) Goldman Sachs ($GS), Tuesday (4/14) JPMorgan ($JPM), Wells Fargo ($WFC), and Citigroup ($C).
Yesterday's Recap
Yesterday, all three major U.S. indexes rose on relief over an Iran ceasefire, extending gains to a seventh straight session. S&P 500 +0.62%, Nasdaq +0.83%, Dow +0.58%, and VIX -24.17% (19.55) — the fear gauge dropped sharply. Amazon ($AMZN) soared +5.6% on confirmation of accelerating AI revenue at AWS, with chip stocks also strengthening. On the other hand, software names plunged across the board on the shock from Anthropic's Claude Mythos model — Palantir ($PLTR, -7.3%), Shopify ($SHOP, -6.5%) — deepening AI-related polarization. View yesterday's market summary
Stocks in Focus
Palantir ($PLTR) — Slumped -7.3% yesterday, triggering both an RSI oversold signal and a break below the lower Bollinger Band at the same time. While a technical rebound is possible after excessive selling tied to AI disruption concerns, the market's assessment of Claude Mythos is still unfolding, so the direction will likely hinge on the CPI outcome and overall market tone.
Intel ($INTC) — Surged +4.6% yesterday, entering RSI overbought territory at 74.8. The chip sector has shown strength for seven straight sessions on rotation into AI hardware beneficiaries, but with short-term overheating signals clearly visible, profit-taking could emerge on any CPI shock.
Amazon ($AMZN) — Stochastics are in overbought territory (K>80) after yesterday's +5.6% surge. Strong fundamental momentum — AWS AI annualized revenue surpassing $15 billion — is in play, but profit-taking pressure from seven straight sessions of gains also exists. Technical Signals Report
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