Tourists walk past the U.S. Capitol and are reflected in the window of a parked ambulance on Capitol Hill in Washington, D.C., U.S., April 14, 2026. <\/p>\n
Evelyn Hockstein | Reuters<\/p>\n
Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of CNBC’s Daily Open.<\/p>\n
Markets appear to think a deal between Washington and Tehran is within reach.<\/p>\n
Stocks extended their rally again on Tuesday, with the S&P 500 pushing toward record territory as investors bet that U.S.\u2013Iran negotiations are gaining traction.\u00a0<\/p>\n
But that optimism might be running ahead of reality. Talks have already stalled once, and instead of a full reopening, the Strait of Hormuz is now under a new U.S. blockade.<\/p>\n
What you need to know today<\/p>\n The stock market has continued rallying on hopes that a deal between the U.S. and Iran is taking shape, with a White House official<\/a> telling CNBC on Tuesday that a second round of negotiations between Washington and Tehran is under discussion.<\/p>\n The S&P 500 is\u00a0nearing its all-time high<\/a>, with Tuesday marking the index’s ninth positive session in 10, while the technology-heavy Nasdaq extended its streak to 10 consecutive advances. Asia-Pacific markets tracked Wall Street,\u00a0opening higher<\/a>\u00a0on Wednesday.\u00a0<\/p>\n Meanwhile, oil prices\u00a0extended recent declines<\/a>.\u00a0<\/p>\n But a resolution to the situation in the Middle East remains uncertain. Talks between U.S. and Iranian negotiators in Islamabad stalled last weekend, prompting Trump to announce a U.S. blockade of the Strait of Hormuz, the vital trade route that normally carries about 20% of global oil supply.<\/p>\n More than 10,000 U.S. sailors, Marines, and airmen are enforcing the blockade, alongside over a dozen warships and dozens of aircraft, the U.S. Central Command said.\u00a0<\/p>\n The blockade further chokes off traffic through the strait, which has slowed to a trickle despite Trump’s earlier claim on April 7 that a two-week ceasefire agreement with Iran would hinge on its full reopening.<\/p>\n A key sticking point between both sides regarding the ceasefire has been Israel’s attacks on Lebanon. U.S. Secretary of State Marco Rubio hosted the first direct talks<\/a> between Israel and Lebanon in decades, though it was not immediately clear whether any framework for peace was reached.<\/p>\n The broader economic risks have continued to rear their head. Citadel CEO Ken Griffin warned that a prolonged disruption in the Strait of Hormuz could push the global economy toward a recession<\/a>.<\/p>\n Meanwhile, experts told CNBC that Europe’s airline industry is at risk of a “systemic” jet fuel shortage<\/a> in the next few weeks if the Strait of Hormuz blockade persists, potentially leading to hundreds of flight cancellations.<\/p>\n The conflict is also raising tensions among major powers. U.S. Treasury Secretary Scott Bessent accused China<\/a> of being an unreliable global partner during the Middle East war, claiming it was hoarding oil supplies and enacting export restrictions \u200con some goods.<\/p>\n In corporate news, Meta<\/a> and Broadcom<\/a> announced an extended partnership<\/a> to develop Meta’s custom in-house AI accelerators through 2029.\u00a0<\/p>\n Separately, Meta said Broadcom’s CEO, Hock Tan, told Meta last week that he has decided not to stand for reelection to Meta’s board, according to a filing<\/a>.\u00a0<\/p>\n \u2014 Dylan Butts\u00a0<\/p>\n And finally…<\/p>\n Central banks were buying gold at record levels. Here’s why they’re selling now.<\/a><\/p>\n Gold’s pullback is exposing a rare shift in the market: after years of relentless accumulation, some central banks are now selling bullion as Iran war-driven pressures force a scramble for cash.<\/p>\n