S&P 500 gained 1.2% to 6,967 points, nearing its all‑time high as markets cheered PPI data and cease‑fire hopes.
March producer price index rose 0.5% MoM and 4.0% YoY, below forecasts, with core PPI up only 0.1% MoM.
JPMorgan and Citi beat earnings expectations, while Wells Fargo missed revenue, leading to stock moves of –0.8%, +2.7% and –5.7% respectively.
Brent crude fell 4.2% to $95.20/barrel and WTI 7% to $92.14 as US blockade of Hormuz halted ship traffic.