Good morning investors! Stocks bounced back yesterday due to hope of a cease fire or break in attacks.
Today we cover:
Oil hits a new high
Trump postpones attacks for two weeks
Apple foldable iPhones delayed
📊 Economy and News
Oil Hits a New High as Attacks Delayed for Two Weeks
Real-world physical oil prices surged to a record high on Tuesday, signaling acute stress in the global energy market as tensions escalate with Iran.
Dated Brent, which tracks actual physical cargoes of North Sea crude loaded onto tankers, hit $144.42 per barrel — surpassing levels seen during Russia’s 2022 invasion of Ukraine and the 2008 financial crisis.
This contrasts sharply with Brent futures (June contract), which were trading around $110 per barrel, well below the 2008 peak of $147. The wide gap between physical and futures prices reflects growing concerns over immediate supply shortages rather than expectations of a quick resolution.
According to Société Générale strategists, early-March inventory buffers are thinning rapidly, leaving the system with little cushion against further disruptions. Before the conflict, the market faced a large surplus, but stockpiles have been drawn down sharply in recent weeks.
However, there may be temporary relief as Trump has agreed to suspending Iran attacks for two weeks. We may also see prices fall in this period.
The move was “subject to the Islamic Republic of Iran agreeing to the COMPLETE, IMMEDIATE, and SAFE OPENING of the Strait of Hormuz,” Trump wrote on Truth Social.
The announcement came less than two hours before his imposed deadline on Iran to either make a deal that includes opening the Strait of Hormuz or face major attacks on its civilian infrastructure.
Trump wrote on Truth Social he made the decision “based on conversations with Prime Minister Shehbaz Sharif and Field Marshal Asim Munir, of Pakistan.”
“This will be a double sided CEASEFIRE!” Trump declared.
Stocks rallied after the news.
Global hits:
US short-term credit market shows early signs of stress as Iran war persists.
Japan’s economy index falls 1.6 points in February.
Williams expects 2026 inflation at 2.75%, cites war impact.
Reminder: UBS lowers 2026 S&P 500 target on Middle East conflict risks.
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📈 Stocks
S&P 500 6,616.85 (+0.076%)
DJIA 46,584.46 (-0.18%)
NASDAQ 22,017.85 (+0.098%)
BRENT CRUDE 109.14 (-0.01%)
* Prices as of Apr 8th, 12:20 AM UTC
Levi Strauss Beats Expectations and Raises Guidance
Levi Strauss & Co. reported stronger-than-expected first-quarter results, beating Wall Street estimates on both revenue and earnings, and raised its full-year guidance.
The denim giant posted solid growth, though roughly half of it came from higher prices rather than increased volume.
While the new full-year outlook is slightly below analysts’ expectations on earnings, it does not yet factor in recent tariff rollbacks, which could provide an additional boost later in the year.
Levi now expects full-year adjusted EPS of $1.42 to $1.48 and sales growth of 5.5% to 6.5%.
Interesting: Delta Air Lines and Southwest Airlines joined United and JetBlue in raising checked bag fees with prices going up by 10$.
Surprising: Apple shares sunk 2% after reports that the company’s foldable iPhones may face delays. Apple competitors Samsung and Huawei have had foldable phones since 2019. In other news, Elon Musk is seeking to have OpenAI CEO Sam Altman and President Greg Brockman removed from their roles as officers in the company as part of a case expected to go to trial later this month.
Chip news: ASML shares fell after U.S. lawmakers proposed a law that would add further semiconductor export curbs on China. The restrictions would target ASML’s deep ultraviolet (DUV) lithography machine, which Chinese companies have so far been able to access.
Elsewhere, Broadcom jumped after announcing plans to expand an agreement with Google for producing AI chips.
Activist investor Bill Ackman’s Pershing Square has proposed a $64 billion takeover of Universal Music Group (UMG) at 30.4 euros per share — a 78% premium to the April 2 closing price.
The cash-and-stock deal includes a board refresh with Michael Ovitz as chairman and a new compensation package for CEO Lucian Grainge.
UMG shares jumped 11% on the news Tuesday. The transaction would move UMG’s primary listing to the New York Stock Exchange and is expected to close by the end of 2026.
💵 Personal Finance
Sudden Riches Syndrome: How Lottery Winners and Heirs Lose It All (And How You Won’t)
Roughly 70% of lottery winners go bankrupt within seven years. Professional athletes and inheritance recipients fare little better. Sudden wealth triggers the same psychological response as trauma: the brain treats new money as temporary, leading to reckless spending and isolation.
The first 30 days are critical. Do nothing irreversible. Park the money in a high-yield savings account and tell exactly zero people outside your immediate family. Celebrity money manager Peter Guber calls this the “cone of silence” period. Assemble a team: fee-only fiduciary advisor, tax attorney, and estate planner. Pay them hourly or flat fees—never commissions.
Create a “wealth preservation trust” before touching a dime. This legal structure protects assets from lawsuits, divorces, and poor decisions. Fund it gradually over 24 months to avoid emotional whiplash. Behavioral economists call this “pre-commitment”—removing future temptation.
Lifestyle inflation destroys more fortunes than bad investments. The golden rule: never increase your fixed expenses by more than 10% of new income in year one. Keep the same car, same house, same friends. One NFL player famously kept his college apartment for three years after signing a $40 million contract.
Philanthropy and family gifting need guardrails. Set up donor-advised funds or family limited partnerships with clear rules. Require adult children to match any gift with their own earned income. Studies show unearned money given without skin in the game rarely creates productive adults.
Investing follows the same boring rules that built the wealth: low-cost index funds, real estate with positive cash flow, and alternative assets no larger than 10% of the portfolio. Sudden wealth syndrome victims chase “opportunities” from friends and family. The correct answer is almost always “no.”
Document everything. Write a personal money manifesto while the emotions are fresh. Revisit it annually. Sudden money is a test of character, not intellect. Pass the test by slowing down, professionalizing, and remembering the person you were before the windfall. The money can last generations—or disappear in months. The difference is almost never luck. It’s systems.
💰 Be a Better Investor
“Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.”
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