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Before the market opened on Monday, whether a second round of negotiations between the US and Iran would take place remained uncertain. Futures for the three major US stock indexes collectively declined. As of press time, Dow Jones futures fell by 0.48%, Nasdaq futures dropped by 0.4%, and S&P futures decreased by 0.44%.
$Star Tech Stocks (LIST2518.US)$Most stocks were down pre-market. $Intel (INTC.US)$ 、 $Oracle(ORCL.US)$ 、 $NVIDIA(NVDA.US)$ 、 $Amazon(AMZN.US)$ Dropped approximately 1%.
$Popular Chinese Concept Stocks (LIST2517.US)$ Pre-market trading showed mixed results. $Pony AI (PONY.US)$declining more than 2%, $PDD Holdings (PDD.US)$ 、 Xpeng Group (XPEV.US)、 $Nio(NIO.US)$ Dropped more than 1%; Li Auto (LI.US) rose more than 1%.
$Bitcoin (BTC.CC)$ Temporarily fell below $74,000 but has since rebounded above $75,000. $Cryptocurrency concept stocks (LIST20010.US)$ The market was broadly lower pre-market, $Bitmine Immersion Technologies(BMNR.US)$A drop of nearly 4% was noted. $Strategy(MSTR.US)$ 、 $Robinhood(HOOD.US)$ 、 Coinbase 、 $Circle(CRCL.US)$Fell over 2%.
$AI Application Software Stock (LIST23492.US)$ Most stocks fell before the market opened. $Snap Inc (SNAP.US)$ Dropped over 3%,SoundHound AI (SOUN.US)、 Tempus AI (TEM.US)、 SAP SE (SAP.US) Dropping more than 2%, $Palantir(PLTR.US)$ 、 $Applovin(APP.US)$ Fell more than 1%.
International oil prices rebounded, Brent Crude Oil (Cash) Main Futures Contract (2606) (BZmain.US) Surged over 5%, $WTI Crude Oil Futures Main Contract (2606) (CLmain.US)$ Surged nearly 6%. U.S.-listed oil stocks$Equinor(EQNR.US)$ Increasing over 3%, $Exxon Mobil(XOM.US)$ 、 $BP PLC (BP.US)$ rose more than 1%.
Individual Stock News
Blue Origin's launch encountered setbacks as the satellite failed to reach the intended orbit.
$AST SpaceMobile(ASTS.US)$ Plummeted 15% pre-market after Blue Origin launched a refurbished 'New Glenn' heavy-lift rocket carrying a communications satellite for AST SpaceMobile on the 19th. Although the first stage of the rocket was successfully recovered at sea, the second stage failed to deliver the satellite into the intended orbit, and the satellite is expected to deorbit and fall. AST SpaceMobile announced that during this mission, the second stage of the rocket placed the 'Bluebird' 7 satellite into a lower-than-expected orbit. Despite successful separation from the second stage and initiation of operations, the satellite cannot maintain normal orbital operation due to its low altitude and insufficient propulsion capabilities, and it is expected to deorbit and fall. Insurance is expected to cover related losses from the satellite.
Google seeks to collaborate with Marvell to develop AI inference chips, accelerating its reduction of reliance on Broadcom.
$Marvell Technology (MRVL.US)$ Surged over 8% pre-market and is currently up more than 6%. According to The Information's report on the 19th, insiders revealed that Google-A (GOOGL.US) Negotiations with Marvell Technology involve two chips: one is a memory processing unit (MPU) designed to work alongside Google’s Tensor Processing Unit (TPU), and the other is a new TPU specifically designed to run AI models. Unlike previous purchases of off-the-shelf chips from Marvell, this collaboration aims to create custom semiconductor products tailored exclusively for Google.
Intel's 14A process technology is ready for deployment, with UBS Group speculating that its clients may include NVIDIA and Apple, among others.
Reports indicate that the $Intel (INTC.US)$ The upcoming 14A process technology is expected to attract some prominent corporate clients by the end of this year. UBS Group speculates that Intel's new technology customers will include NVIDIA, Apple, Google, and AMD. Intel's stock price has surged 59% over the past month, driven by positive feedback on its participation in Musk’s Terafab chip project, 14A process technology, and EMIB packaging technology.
USA Rare Earth plans to acquire Serra Verde Group, a Brazilian rare earth developer, for $2.8 billion.
USA Rare Earth(USAR.US) Shares fell as much as 4.5% pre-market but are now up over 7%. USA Rare Earth announced that it has signed a definitive agreement to acquire 100% of Serra Verde, a Brazilian rare earth developer. Serra Verde owns the Pela Ema rare earth mine and processing plant located in Goiás, Brazil. The transaction consideration includes $300 million in cash and 126,849,000 newly issued shares of USAR common stock. Based on USAR's closing price of $19.95 per share as of April 17, 2026, the deal values Serra Verde at approximately $2.8 billion. The acquisition is expected to close in the third quarter of 2026.
Alibaba HappyHorse will commence open testing on April 27.
$Alibaba(BABA.US)$ HappyHorse-1.0, under Alibaba ATH, will gradually open API testing through Alibaba Cloud’s Bailian platform on April 27, with the first batch of invitees being enterprise-level clients. ATH revealed that Alibaba has been deeply involved in the AI video generation field for many years. The HappyHorse project is led by ATH’s Innovation Business Unit, jointly developed in collaboration with multiple teams including Alibaba Platform Technology, Tongyi Lab, and Taotian Technology. After the initial testing phase opens at the end of April, HappyHorse-1.0 is set to officially launch for commercial use in May.
Exxon Mobil, Chevron, and other giants plan to invest hundreds of billions globally in an oil 'grab'.
$Exxon Mobil(XOM.US)$ 、 $Chevron(CVX.US)$ Exxon Mobil and other energy companies are accelerating efforts to explore new oil and gas opportunities—steering clear of risks posed by conflicts in the Middle East. According to The Wall Street Journal, Exxon Mobil recently outlined a potential plan to invest up to $24 billion in Nigeria's deepwater oil fields, while Chevron has expanded its footprint in Venezuela. $BP PLC (BP.US)$ Acquired stakes in offshore oil and gas blocks in Namibia, and TotalEnergies (TTE) signed an exploration agreement with Turkey.
Global Macro
As the ceasefire agreement nears expiration, the second round of US-Iran talks remains shrouded in uncertainty.
With the temporary US-Iran ceasefire agreement set to expire on April 22, growing attention is being paid to the progress of US-Iran negotiations. According to White House officials, US Vice President Vance will lead a delegation to Islamabad, Pakistan, for a new round of US-Iran talks. Trump’s envoy Steve Kushner and the President's son-in-law Jared Kushner will also attend. Trump has posted on social media stating that the US delegation will arrive in Islamabad on the evening of April 20 local time. Additionally, according to a source from Pakistan’s security sector, when Pakistan Army Chief Munir spoke with US President Trump, he noted that the US blockade of Iranian ports is an obstacle to negotiations. Trump responded that he would consider Munir’s suggestions.
On the Iranian side, according to CCTV News, Ibrahim Aziz, Chairman of Iran’s Islamic Parliament's National Security and Foreign Policy Committee, stated on April 20 local time that Iran has decided to continue negotiations with the US, but this “does not mean negotiating at all costs” or accepting “any measures taken by the other party.” However, earlier that same day, Iran’s Foreign Ministry conveyed starkly contrasting information. Spokesperson Ismail Bagheri stated there are currently no plans for a second round of negotiations with the US.
Focus on the heavyweight hearing at 22:00 tomorrow night: How will Kevin Warsh express his stance?
At 10 p.m. Beijing time on Tuesday, the U.S. Senate Banking Committee will hold a hearing on Kevin Warsh's nomination as Federal Reserve Chairman. This marks the first time Warsh will be able to articulate his monetary policy stance in an official setting such as Capitol Hill. It is foreseeable that lawmakers will focus on whether Warsh will genuinely maintain independence or simply follow presidential directives. Meanwhile, this hearing on Tuesday evening represents not only Warsh's personal advancement but also the opening act of the Federal Reserve's role reshaping in the "Trump 2.0 era." Every comment he makes regarding interest rates and the balance sheet could translate into trillions of dollars in market volatility over the coming months.
Over $160 billion! 'Trump Tariff Refunds' launched on Monday.
The U.S.-related 'refund' process and filing system officially launched on Monday (the 20th) local time, planning to return up to $166 billion in illegal tariffs. According to the U.S. Customs and Border Protection (CBP), which manages the system, importers and their brokers can apply for refunds via an online platform starting at 8 a.m. The refund process is rather complex: companies must submit declarations listing the goods for which they have paid billions in import duties. CBP stated that if claims are approved, refunds will be issued within 60 to 90 days.
The Federal Reserve releases a significant 'balance sheet reduction' paper.
Recently, Federal Reserve Governor Stephen Meyer, along with three Fed economists, co-authored a working paper titled 'A User's Guide to Shrinking the Fed's Balance Sheet,' highlighting that the true obstacle to balance sheet reduction is not 'reserve supply' but the 'demand baseline' artificially elevated by regulatory rules. Through 15 reform options, the balance sheet could potentially shrink by over $2 trillion. CITIC Securities believes some options are feasible but will progress much slower than expected, maintaining its forecast of a 25-basis-point rate cut by the Fed in the second half of the year.
JPMorgan: While oil prices are falling, the current fundamentals show 'no improvement whatsoever.'
JPMorgan notes that the crude oil supply gap has widened to 15-16 million barrels per day, with global inventories depleting by 265 million barrels. The sole explanation for the price decline is demand destruction. European refining margins have plummeted to -$15.3 per barrel, confirming demand contraction. JPMorgan forecasts OECD crude oil inventories will approach operational minimum levels around May 15, exposing the market to heightened risks of more severe price volatility.
Amidst ongoing U.S.-Iran tensions, why is the U.S. stock market experiencing a 'bullish surge'? Analysts reveal the rationale behind the bullish outlook.
Despite escalating tensions between the U.S. and Iran, U.S. stocks continue to soar. Ryan Detrick, Chief Market Strategist at Carson Research, stated that the bears have lost again, with the bull market regaining dominance. Detrick further predicted that the bull run would accelerate as earnings season officially begins. He noted that strong earnings, combined with easing tensions with Iran, would form a 'one-two punch' driving markets higher. 'We believe this bull market is far from over, and we think this earnings season will reaffirm that. This is a global bull market, and I don’t want to fight the trend,' he added.
Top 20 pre-market trading volume stocks in the U.S.
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Editor/KOKO