Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
Wall Street pushed to record highs as Brent crude topped $100 a barrel and the Strait of Hormuz stayed closed, with investors treating the Iran war as a temporary shock.
Reuters said 26 firms have cut or withdrawn guidance since the war began as shipping disruptions, fuel costs and supply bottlenecks drive prices higher.
Freddie Mac put the 30-year fixed rate at 6.23%, while purchase applications rose 10% and refinance demand climbed 6%.
U.S. business activity improved in April as S&P Global’s flash composite PMI rose to 52.0, but the output-price gauge jumped to 59.9, its highest since July 2022.
Wall Street shrugged off the Iran shock as the S&P 500 and Nasdaq hit records even with Brent crude back above $100 and the Strait of Hormuz closed.
Freddie Mac’s 30-year mortgage rate fell to 6.23%, its lowest for 3 spring homebuying seasons, and purchase loan applications jumped 10% last week.
Trump's ceasefire deadline and Iran's leverage over the Strait of Hormuz are driving oil prices higher as the IMF warns of a possible global recession.
U.S. business activity rebounded in April as S&P Global's flash PMI rose to 52.0, but price pressures hit a nearly 4-year high amid Iran war supply disruptions.
The S&P 500 and Nasdaq Composite hit records as investors bet strong earnings will outweigh Iran-related oil risks.
Germany’s economy ministry cut its 2026 growth forecast to 0.5% as higher oil and gas prices lifted inflation expectations.
The MBA said purchase applications jumped 10% as the 30-year mortgage rate fell to 6.35%, but affordability remains uneven.
US mortgage applications for home purchases rose 10.1% last week as the average 30-year rate fell to 6.35%, its lowest since mid-March.
