Stocks Enjoy Strong Start to April Ahead of Trump Address

Stocks kicked off the first day of April and the second quarter with strong gains, the Dow and S&P 500 etching triple-digit pops. The S&P 500 settled higher as well on the heels of higher-than-expected retail sales data for March and comments from President Donald Trump that suggested the U.S.-Iran war could be over soon, should the Strait of Hormuz reopen. Traders are now eyeing more updates from Trump, who will deliver an address at 9 p.m. ET regarding the conflict.

• Pharma stock could prove bulls right.
• Microsoft's AI expansion plans stretch to Asia.
• Plus, layoffs at Oracle; hot chip stock to watch; why IOT could bounce.

5 Things to Know Today

1. SpaceX has confidentially filed for an initial public offering (IPO) with the Securities and Exchange Commission (SEC), which could break records.
2. Eli Lilly's (LLY) weight-loss pill Foundayo received approval from the Food and Drug Administration (FDA).
3. Oracle became the latest tech giant to announce layoffs.
4. Behind Intel's big stake buyback of its Ireland factory.
5. Samsara stock looks ready to trim its year-to-date deficit.

Gold Nabs 4th-Straight Daily Gain

Oil prices cooled off on Wednesday, after President Trump indicated the U.S.-Iran war could end within weeks. Front-month May-dated West Texas Intermediate (WTI) crude fell 1.2%, or $1.26, to finish at $100.12 per barrel.

A weaker U.S. dollar contributed to higher gold prices, which marked a fourth-straight gain for the safe haven. April-dated gold futures added 2.9% to finish at $4,813.10 an ounce for the day.