US open: Stocks mixed as traders monitor Middle East developments, bank earnings

15th Apr 2026 14:41

(Sharecast News) - Wall Street trading got off to a mixed start on Wednesday as market participants remained focussed on Middle East developments and quarterly earnings from more of the nation's biggest names in banking.

As of 1510 BST, the Dow Jones Industrial Average was down 0.36% at 48,361.06, while the S&P 500 advanced 0.11% to 6,975.34 and the Nasdaq Composite came out of the gate 0.47% firmer at 23,750.24.

The Dow opened 174.93 points lower on Wednesday, taking a bite out of gains recorded in the previous session.

Donald Trump said the Iran war was "very close to over", stating authorities in Tehran were eager to reach a peace deal. He said the US had "beaten them militarily" and suggested Iran "want to make a deal very badly". Reports on Wednesday indicated that Washington and Tehran had reached an "in principle agreement" to extend their fragile two‑week ceasefire, according to regional officials cited by the Associated Press, though a senior US official later told CNBC the US had not formally agreed to an extension. Further negotiations were said to be under discussion, with Trump telling the New York Post that fresh talks in Islamabad "could be happening over the next two days".

Trump also downplayed market turbulence and said oil prices would soon ease as he defended US military operations, saying Washington must prevent Tehran from obtaining a nuclear weapon, and predicting that once the conflict ends "the stock market is going to boom". Meanwhile, US Central Command said the blockade of the Strait of Hormuz had now been fully implemented, cutting off maritime access to and from Iranian ports.

Investors were again locked in on bank earnings at the open on Wednesday, with Bank of America posting some better-than-expected Q1 results as both revenue and earnings per share came in ahead of Wall Street expectations at $30.43bn and $1.11, respectively, while Morgan Stanley also beat on both the top and bottom lines, with revenues of $20.58bn and earnings per share of $3.43, as the group benefitted from robust investment banking and trading revenues.

On the macro front, US mortgage applications increased 1.8% in the week ended 10 April, according to the Mortgage Bankers Association of America, the first rise in five weeks following a 0.8% drop in the prior week. Applications to refinance a mortgage, which are generally more sensitive to weekly interest rate moves, jumped 5.1%, while applications to purchase a home fell 1%. Last week's increase comes as the average 30-year fixed mortgage rate for conforming loans of $806,500 or less fell for a second week in a row to 6.42% - the lowest value in roughly a month.

Elsewhere, US import prices rose 0.8% in March, according to the Bureau of Labor Statistics, the third consecutive monthly increase, following gains of 0.9% in February and 0.6% in January. Import prices were up 2.1% in the year to March for the strongest annual rise since December 2024, when the index increased 2.2%.

Export prices also strengthened, advancing 1.6% in March as both agricultural and non‑agricultural export prices moved higher. Export prices rose 5.6% over the 12 months ended 31 March, marking the largest year‑on‑year increase since November 2022, when the index climbed 6.1%.

On another note, manufacturing activity in New York State picked up sharply in April, with the NY Empire State manufacturing index rising to 11 from ‑0.2 in March, according to the Federal Reserve Bank of New York, beating expectations for a slight decline and marking the highest reading in five months. The report showed that 36% of firms reported increased activity during the month, while 25% reported a decline. New orders strengthened notably, rising to 19.3 from 6.4, and shipments jumped to 20.2 from ‑6.9. Employment also improved, with the index climbing to 9.8 from 5.8.

However, cost pressures intensified, with the index tracking input prices accelerating to 51 from 36.6, while firms reporting expectations for supply availability worsened, falling to ‑10.1 from ‑3.9. Optimism surrounding the six‑month outlook also weakened, with the expectations index dropping to 19.6 from 31.

Finally, the National Association of Home Builders' housing market index decreased to 34 points in April, down from March's print of 38 as current sales conditions fell four points to 37, sales expectations in the next six months dropped seven points to 42, and traffic of prospective buyers posted a three-point decline to 22.

Reporting by Iain Gilbert at Sharecast.com

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Nike Inc. (NKE) $45.41 2.87%

Microsoft Corp. (MSFT) $402.88 2.68%

International Business Machines Corporation (CDI) (IBM) $244.97 1.87%

Intel Corp. (INTC) $64.49 1.03%

American Express Co. (AXP) $329.69 0.85%

Goldman Sachs Group Inc. (GS) $916.29 0.68%

Visa Inc. (V) $312.43 0.44%

McDonald's Corp. (MCD) $303.33 0.25%

Travelers Company Inc. (TRV) $299.67 0.13%

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Caterpillar Inc. (CAT) $776.49 -2.72%

Chevron Corp. (CVX) $184.74 -1.34%

Coca-Cola Co. (KO) $74.75 -1.23%

JP Morgan Chase & Co. (JPM) $308.26 -1.05%

3M Co. (MMM) $151.06 -1.01%

Verizon Communications Inc. (VZ) $45.04 -0.91%

Apple Inc. (AAPL) $258.46 -0.85%

Johnson & Johnson (JNJ) $238.96 -0.83%

Cisco Systems Inc. (CSCO) $81.33 -0.79%

Home Depot Inc. (HD) $339.88 -0.68%

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Micron Technology Inc. (MU) $455.43 6.50%

Oracle Corp. (ORCL) $171.26 5.47%

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Morgan Stanley (MS) $192.07 4.70%

VF Corp. (VFC) $19.67 4.55%

CenturyLink Inc. (LUMN) $8.18 4.34%

Broadcom Inc. (AVGO) $394.03 4.26%

Dxc Technology Company (DXC) $12.86 4.21%

Nektar Therapeutics (NKTR) $83.05 4.16%

Robert Half Inc. (RHI) $26.38 4.12%

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Stanley Black & Decker Inc. (SWK) $69.11 -3.91%

Apache Corp. (APA) $36.35 -3.87%

Charter Communications Inc. (CHTR) $217.02 -3.70%

Corning Inc. (GLW) $167.71 -3.62%

Smith A O Corp. (AOS) $64.50 -3.54%

Newmont Corporation (NEM) $115.33 -3.47%

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Applied Materials Inc. (AMAT) $385.35 -3.19%

Textron Inc. (TXT) $90.31 -3.14%

Fastenal Co. (FAST) $43.74 -3.06%

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Micron Technology Inc. (MU) $455.43 6.50%

Verisk Analytics Inc. (VRSK) $177.49 4.72%

Broadcom Inc. (AVGO) $394.03 4.26%

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Check Point Software Technologies Ltd. (CHKP) $135.67 -4.19%

Charter Communications Inc. (CHTR) $217.02 -3.70%

KLA-Tencor Corp. (KLAC) $1,733.88 -3.36%

Applied Materials Inc. (AMAT) $385.35 -3.19%

Fastenal Co. (FAST) $43.74 -3.06%

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