CNBC — 2026-04-01#

Lead Story#

President Trump’s prime-time address on the Iran war triggered massive market volatility, as his warning that the U.S. will “hit them extremely hard” over the next two to three weeks sent crude oil surging. West Texas Intermediate crude soared over 11% to settle at $111.54 per barrel, dashing earlier investor hopes for an imminent ceasefire,.

Markets & Economics#

The Dow Jones Industrial Average slid 61.07 points to close at 46,504.67 after a turbulent session driven by geopolitical jitters. Despite the geopolitical overhang, economic data showed resilience, with ADP reporting that private sector hiring added 62,000 jobs in March, comfortably beating the 39,000 consensus estimate,. The ISM manufacturing index also registered a slightly better-than-expected 52.7, though its prices index spiked 7.8 points to 78.3, signaling building inflationary pressures. For more on the oil shock, watch If Iran War ended tomorrow we wouldn’t go back to pre-war oil prices, says top oil analyst Andy Lipow.

Business & Earnings#

Nike shares plunged over 14% after CFO Matt Friend warned that revenue would decline by low single digits through the end of the year, dragged down by a projected 20% sales plunge in China,. Meanwhile, Intel shares popped 9% after announcing it will buy back Apollo Global Management’s 49% stake in its Ireland fabrication plant for $14.2 billion, signaling renewed confidence in its foundry business,. In the tech space, Elon Musk’s SpaceX has confidentially filed for an IPO at a staggering $1.75 trillion valuation following its merger with xAI. Catch the analysis on Nike CFO: Expect sales down low-single digits from now through end of 2026.

Investing & Commentary#

JPMorgan Asset Management strategist Jack Manley advised investors to brace for a “choppy, bumpy ride” driven by extreme headline sensitivity, but warned against sitting out the turbulence,. He noted that historically, the market’s best days often follow its worst, making staying fully invested crucial for long-term returns,. Jim Cramer echoed a similar sentiment, suggesting that Tuesday’s brief rally offered a “dry run” of how violently stocks could rotate higher once the Middle East conflict officially winds down.

Also Worth Watching#

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