Apple dominated headlines as CEO Tim Cook announced his departure, passing the reins to hardware chief John Ternus amid mounting pressure to establish Apple as a serious AI player. Earnings season delivered mixed results with UnitedHealth, GE Aerospace, RTX, and 3M all beating estimates, while Amazon doubled down on AI with a fresh $25 billion commitment to Anthropic in one of the largest AI deals ever announced.

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Markets slipped as the fragile ceasefire unraveled, with Iran declaring the Strait of Hormuz still closed and oil surging back above $95 a barrel ahead of Tuesday's expiration deadline. Corporate dealmaking remained active with Eli Lilly, QXO, and USA Rare Earth all announcing major acquisitions, while a presidential executive order on psychedelic drug research sent the sector soaring over 20%.

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Earnings season kicks into high gear with nearly a fifth of the S&P 500 reporting, headlined by Tesla as the first Mag Seven megacap to post results, alongside industrial giants 3M, GE Aerospace, and Boeing, and capped by Procter & Gamble on Friday. Kevin Warsh's Fed Chair confirmation hearing on Tuesday and the March retail sales report will be equally closely watched, as investors look for clarity on the consumer health and the future direction of monetary policy amid still-elevated oil prices.

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A dramatic week ended on a high note as Iran reopened the Strait of Hormuz, sending oil prices plunging 13% and fueling Wall Street's third straight week of gains with the Nasdaq up 6.8%. Blockbuster bank earnings, surging AI investment, and a Nvidia-sparked quantum computing frenzy dominated corporate headlines, while Netflix and Hermès were rare laggards in an otherwise broadly strong earnings week.

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Markets surged to close out the week as Iran declared the Strait of Hormuz open to commercial vessels, sending oil below $87 a barrel and unwinding the war premium that had gripped markets for weeks. The tech sector led the rally, with Intel hitting its highest level since the dot-com era and AMD reaching all-time highs on surging agentic AI demand, while Netflix bucked the trend, tumbling 10% on a disappointing revenue forecast and the announced departure of co-founder Reed Hastings.

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Earnings season continued to impress, with TSMC and ASML both beating estimates and raising forecasts on surging AI demand, while Charles Schwab, PepsiCo and Abbott Labs also topped expectations. Markets edged higher on news of an Israel-Lebanon ceasefire, though March industrial production fell a surprising 0.5% as conflict-driven energy costs continued to weigh on the broader economy.

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Bank earnings remained the dominant story, with Bank of America and Morgan Stanley both crushing profit expectations on record trading revenues and surging deal-making fees, capping a broadly strong quarter for the major banks. Markets were mixed as peace talk optimism kept oil near three-week lows, while Robinhood surged 5% on a landmark SEC rule change eliminating the $25,000 minimum balance requirement for day traders.

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Markets rallied on hopes of resumed peace talks, even as the IEA warned of the largest oil supply disruption in history and the IMF flagged global recession risks. Q1 earnings season showed broad strength with JPMorgan, Citigroup and BlackRock all beating expectations, while Amazon made a major strategic move acquiring satellite firm Globalstar for $11.57 billion to take on Starlink.

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Markets edged higher despite a major Middle East escalation, as the US blockaded the Strait of Hormuz and sent oil back above $100 a barrel. Q1 earnings season opened with Goldman Sachs beating profit expectations on record deal-making, while Meta was flagged as set to overtake Google as the world's largest digital advertising business for the first time.

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A critical week ahead as Q1 earnings season kicks off with the big banks reporting Monday and Tuesday, giving investors their first real read on how corporate America is navigating soaring oil prices and geopolitical uncertainty. The PPI inflation report on Tuesday and results from Netflix, ASML, and TSMC will round out a week that will either validate or challenge last week's ceasefire-fueled rally.

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