Bloomberg — 2026-04-01#

Lead Story#

US President Donald Trump signaled the US aims to exit its military operations in Iran within two to three weeks, contingent on reopening the Strait of Hormuz. The comments triggered a massive relief rally across global equities, with Asian and European stock futures surging, while Brent crude plunged below $100 a barrel as traders unwound bets on a prolonged energy supply shock.

Markets & Economics#

• US Economic Resilience Bolsters Rate Outlook: US retail sales rebounded 0.6% in February, while a March manufacturing gauge expanded by the most since 2022 despite surging war-driven input costs.
• India Battles Rupee Slide Toward 100/USD: The Reserve Bank of India stepped up its defense of the battered rupee by restricting non-deliverable FX contracts, as strategists warn the currency could hit a record 100 per dollar.
• German Growth Forecast Slashed: Germany’s leading research institutes cut the country’s economic growth forecast by more than half, citing the devastating impact of the Middle East conflict on global energy supplies.
• MSCI Upgrades Greece: MSCI Inc. elevated Greece’s stock market back to developed-market status, a milestone marking the country’s complete recovery from its decade-long sovereign debt crisis.

Business & Industries#

• SpaceX Files Confidentially for IPO: Elon Musk’s rocket and satellite behemoth has confidentially filed for what could be the biggest-ever initial public offering, seeking to capitalize on surging AI valuations.
• Intel Reclaims Ireland Plant Stake for $14.2B: Rebuilding its manufacturing footprint, Intel Corp. agreed to pay Apollo Global Management $14.2 billion to buy back half of its Irish facility.
• McCormick Acquires Unilever Food Arm: Unilever agreed to merge its food business with McCormick in a massive $44.8 billion transaction, creating a global condiments and seasonings powerhouse.
• Stellantis Weighs Canadian Hub for Chinese EVs: Stellantis NV is in talks to build electric vehicles with Chinese partner Zhejiang Leapmotor at an idled Canadian plant, sparking immediate protectionist opposition from Ontario’s premier.
• Estée Lauder, Puig Advance Merger Talks: The two family-owned cosmetics giants are progressing toward a mostly stock combination that would forge one of the world’s largest luxury beauty companies.

Policy & World#

• Trump Attends Birthright Citizenship Hearing: Donald Trump became the first sitting US president to attend a Supreme Court oral argument in recorded history, where justices appeared skeptical of his executive bid to roll back automatic birthright citizenship.
• UK Pivots to EU Amid Transatlantic Strain: Prime Minister Keir Starmer pledged deeper ties with the European Union and proposed a diplomatic coalition to reopen the Strait of Hormuz, pushing back against Trump’s erratic foreign policy and NATO exit threats.
• NASA Readies First Crewed Moon Mission in 50 Years: Astronauts will launch Wednesday aboard a Lockheed Martin-built Orion capsule atop a Boeing Space Launch System rocket, embarking on a 10-day Artemis II lunar flyby.

Opinion & Analysis#

• Ukraine Is Having a Surprisingly Good Iran War: The Middle East conflict has ironically rescued Russia from a budget crisis and strained Kyiv’s debt-laden European backers, increasing the likelihood that the US will force Volodymyr Zelenskiy to accept Russian territorial demands.
• Private Credit’s Pain Will Be the Market’s Gain: Just as the cowpox vaccine trained the immune system to fight smallpox, early exposure to manageable distress will ultimately build crucial defenses and strengthen the rapidly expanding private credit sector.