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April 22, 2026 – 13:22

(Bloomberg) — US stock futures rose after President Donald Trump indefinitely extended his ceasefire with Iran on a day when traders will also focus on a broad slate of corporate earnings.

Brent briefly climbed above $100 a barrel as talks earmarked for Islamabad failed to take place, leaving the Strait of Hormuz mostly shut. S&P 500 contracts advanced 0.5% following the benchmark’s first back-to-back loss this month.

“Investors are either standing on the sidelines or have accepted the emotional influence on the market, knowing that negotiations to end the conflict are ongoing,” said Guillermo Hernandez Sampere, head of trading at MPPM.

Tesla Inc. will be the main focus of corporate results on a busy day for US earnings. A slate of chip names including Texas Instruments Inc. and Lam Research Corp. is also due to report, with the Philadelphia Semiconductor Index eyeing its longest winning streak ever after 15 days of gains. Boeing Co. is among a group of industrials set to release results.

The earnings season has been off to a strong start, with 82% of the 71 companies in the S&P 500 that have reported so far outpacing estimates, according to data compiled by Bloomberg Intelligence. Investors have rewarded names linked to the artificial-intelligence trade in particular, as strong demand drives fresh optimism around the adoption of the capital-intensive technology.

Companies behind the electrification of data centers stood out early in the session.

GE Vernova Inc. rose 6.6% in premarket trading after booking more data-center equipment orders in the first quarter than all of last year. ABB Ltd. rose to a record in Zurich following a jump in orders for its power-grid products. Meanwhile, ASM International NV hit a high in Amsterdam on strong orders for the chip-equipment maker’s gear.

“AI is back on track, earnings are positively surprising and the overall situation seems to be a continuation of those earnings beats,” said Florian Ielpo, head of macro research at Lombard Odier Asset Management. “This could continue maintaining momentum on the side of the AI makers, much more than on the side of the AI users.”

In bond markets, European debt fluctuated after the advance in oil picked up speed. The 10-year US Treasury yield fell one basis point to 4.28%. The dollar eased 0.2%, while gold rose above $4,750 an ounce. Bitcoin rallied more than 3% and briefly hit the highest level since February.

While stocks are again trading near record highs and earnings remain strong, some market participants warn that oil price volatility is likely to persist, with no deal in sight to reopen the Strait of Hormuz. Iran’s Islamic Revolutionary Guard Corps seized two ships on Wednesday for “endangering maritime security.”

“Mixed messages from Donald Trump, and an insistence that a US blockade of Iran will continue, mean investors are still playing a guessing game,” said Russ Mould at AJ Bell. “Having tipped into alarm bell territory above $100 per barrel, oil prices have now dipped below this level – but they still tell a story of distress in global energy markets.”

Corporate News:

AT&T Inc. reported revenue and profits in the first quarter that beat analysts’ estimates, as the No. 3 US wireless carrier continued to expand its fiber footprint and sell customers on its convergence strategy of subscribing to multiple products at once. Best Buy Co. Inc. has tapped Jason Bonfig, the company’s chief customer, product and fulfillment officer, to succeed Corie Barry as chief executive officer. Deutsche Telekom AG is considering a full combination with its American arm T-Mobile US Inc., a move that would create a multinational telecom group and rank as the largest-ever public M&A deal. Reckitt Benckiser Group Plc’s reported slower than expected sales due to a weak cold and flu season in the US and supply disruption in the Middle East. ASM International NV projected revenue for the second quarter that exceeded analysts’ estimates, underscoring that artificial intelligence investments are driving demand for the Dutch chip-equipment maker’s gear. United Airlines Holdings Inc. slashed its full-year profit forecast as higher fuel prices caused by war in the Middle East batter global carriers. SpaceX said it has an agreement giving it the right to acquire artificial intelligence startup Cursor for $60 billion later this year or to pay $10 billion for the companies’ work together. Some of the main moves in markets:

Stocks

S&P 500 futures rose 0.5% as of 7:17 a.m. New York time Nasdaq 100 futures rose 0.7% Futures on the Dow Jones Industrial Average rose 0.5% The Stoxx Europe 600 was little changed The MSCI World Index was little changed Currencies

The Bloomberg Dollar Spot Index fell 0.2% The euro was little changed at $1.1746 The British pound was little changed at $1.3514 The Japanese yen was little changed at 159.24 per dollar Cryptocurrencies

Bitcoin rose 3.3% to $78,210.07 Ether rose 3.3% to $2,391 Bonds

The yield on 10-year Treasuries declined one basis point to 4.28% Germany’s 10-year yield was little changed at 3.00% Britain’s 10-year yield declined one basis point to 4.87% Commodities

West Texas Intermediate crude rose 0.8% to $90.38 a barrel Spot gold rose 0.8% to $4,759.25 an ounce This story was produced with the assistance of Bloomberg Automation.

–With assistance from Neil Campling and Olivia Levieux.

©2026 Bloomberg L.P.