Late-session News of a Ceasefire Extension Lifted US Futures After the Close

US futures surged 0.5% after President Donald Trump extended the U.S. ceasefire with Iran, saying the extension was warranted due to Tehran’s government being “seriously fractured.” Trump said the ceasefire would continue “until such time as” Iran’s leaders and representatives submit a “unified proposal” to end the war with the U.S. and Israel.

Earlier in the regular session, US markets extended losses, with all three benchmarks closing down roughly 0.6% after key diplomatic talks in Pakistan were delayed. The Nasdaq briefly touched a fresh all-time high intraday before fading as peace-deal optimism evaporated.

Oil briefly rose before turning lower as investors weighed whether US–Iran negotiations could reopen the Strait of Hormuz. Brent crude, hovering near $98/barrel, pared further gains on ceasefire extension hopes.

The yield on the 10-year Treasury note climbed to 4.29% after a government report showed U.S. retail sales rose 1.7% in March, surpassing economists’ expectations. This robust consumer spending data suggests continued economic resilience despite recent geopolitical tensions and high oil prices.

Investors analysed Senate confirmation hearings for Kevin Warsh, who is being considered to succeed Jerome Powell as Federal Reserve Chair.

First-quarter earnings were mixed. Halliburton posted net income of $461 million despite disruptions in the Middle East. Adobe surged in extended trading after announcing a $25 billion buyback. United Airlines delivered a profitable quarter despite higher fuel costs and geopolitical pressure on international routes.

UnitedHealth Group jumped 7% after beating earnings estimates and raising its full-year outlook. GE Aerospace and RTX bucked the trend, declining despite their own quarterly beats.

A heavy earnings slate on April 22 — Tesla, Boeing, IBM, Texas Instruments, ServiceNow, Southwest Airlines, AT&T, and GE Vernova — will offer investors a broader read on corporate health amid persistent geopolitical uncertainty.

Asian equities opened with a mixed note amid an overnight surge in energy prices and a lack of supportive cues from the global peers.

Back home, HCL Tech and Tata Elxsi Q4 results were lower vs expectations, while PNB Housing Finance beat expectations handsomely, and Persistent Systems delivered another resilient quarter.

SBI Life Insurance Company, Tech Mahindra, Trent, Bharat Coking Coal, Delta Corp, Havells India, L&T Technology Services, Maharashtra Scooters, Oracle Financial Services Software, Sangam India, and Tata Communications will announce their quarterly earnings on April 22.

Nifty extended its winning streak to three sessions yesterday, climbing 211 points to close at 24,576.

The rupee weakened for the second consecutive day, depreciating by 37 paise amid ongoing tensions in the Middle East. Despite buoyant domestic equities and steady FII inflows, it buckled under a strong US dollar and jittery global oil prices.

The index has now rallied nearly 11% from the recent swing lows. On the downside, support has shifted higher to the 24,200 level, which can serve as a stop-loss for existing long positions.

Indian markets are likely to open marginally lower amid muted global cues.