BUSINESS

Australians are grappling with sharply higher fuel costs in early April 2026 as the U.S.-Iran war disrupts global oil supplies, pushing wholesale prices higher and triggering a domestic fuel supply crunch despite government intervention.

Australia is not fighting in the U.S.-led war against Iran, yet the conflict is already exacting a significant economic toll on the nation through surging fuel prices, inflation pressures and potential recession risks, according to government modeling and independent forecasts.

SYDNEY — As the Iran war enters its second month with the Strait of Hormuz largely closed and global oil prices hovering above $100 a barrel, economists are warning that supply-chain shocks will deliver a triple blow to Australia's economy this year — driving inflation higher, squeezing key industries and raising recession risks.

U.S. employers added 178,000 jobs in March, a solid rebound that far exceeded economists' expectations and signaled underlying resilience in the labor market despite ongoing geopolitical tensions from the conflict with Iran and surging energy costs.

NEW YORK — U.S. stock markets were closed Friday, April 3, in observance of Good Friday, leaving investors to digest the latest economic signals without the ability to trade as geopolitical tensions from the ongoing conflict with Iran continued to cast a shadow over Wall Street.

NEW YORK — The U.S. stock market is closed today, Friday, April 3, 2026, as the New York Stock Exchange and Nasdaq observe Good Friday, one of the few non-federal holidays when major U.S. equities exchanges halt all trading.

NEW YORK — Bitcoin fell modestly Friday morning amid lingering uncertainty from the ongoing U.S.-led military campaign against Iran, with the world's largest cryptocurrency trading near $66,650 after shedding about 0.36% in early Asian and European hours.

SYDNEY — Australian shares retreated Thursday, with the benchmark S&P/ASX 200 closing down 92.3 points, or 1.06%, at 8,579.5 after erasing early gains in a volatile session driven by renewed geopolitical tensions in the Middle East.

Gold prices fell sharply Friday, with spot gold trading at $4,654.86 per ounce, down $130.53 or 2.73%, as a firmer U.S. dollar and rising Treasury yields weighed on the non-yielding precious metal amid shifting market sentiment.

Alphabet Inc. shares traded near $294 on Friday morning as investors weighed whether the Google parent company represents a compelling buy amid robust artificial intelligence growth, record revenue and looming capital spending increases.

SYDNEY — As the Australian sharemarket navigates mixed economic signals in April 2026, including steady Reserve Bank of Australia rates and sector-specific pressures, several S&P/ASX 200 stocks are trading at significant discounts to their estimated intrinsic value, positioning them for potential substantial upside as earnings momentum builds through the year.

SYDNEY — Investors seeking reliable income in a volatile interest rate environment are turning to high-yield dividend stocks within the S&P/ASX 200 Index as the Reserve Bank of Australia holds the cash rate at 4.1% following recent hikes, making dividend yields from established companies an attractive alternative to term deposits and bonds.

Shares of Blue Owl Capital Inc. fell sharply in morning trading Thursday after the alternative asset manager announced it would limit redemptions on two major private credit funds following unprecedented withdrawal requests from investors, raising fresh concerns about liquidity in the booming but scrutinized private credit sector.

Shares of Iridium Communications Inc. jumped more than 10% in early trading Thursday after the satellite services provider announced the release date for its first-quarter 2026 financial results, signaling investor optimism about the company's expanding role in global connectivity and positioning, navigation and timing technologies.

Shares of Sky Quarry Inc. (NASDAQ: SKYQ) exploded more than 94% in early trading Thursday, climbing from a previous close near $2.53 to $4.93 as investors reacted to a fresh company statement highlighting the strategic importance of its Nevada refinery amid surging Brent crude prices above $110 per barrel and shrinking West Coast refining capacity.

Dow Jones futures tumbled more than 640 points early Thursday, signaling a sharply lower open for Wall Street as surging oil prices and renewed fears over the U.S.-Israel conflict with Iran rattled investor confidence and raised concerns about inflation and global economic growth.

SYDNEY, Australia — The S&P/ASX 200 index fell 97.80 points, or 1.13%, to close at 8,574.00 on Thursday, April 2, 2026, extending recent weakness as persistent geopolitical tensions in the Middle East, elevated oil prices and concerns over sticky inflation continued to weigh on investor sentiment.

NVIDIA Corp. landed at No. 6 on Fortune's 2026 list of the 100 Best Companies to Work For, the chipmaker announced Wednesday, highlighting its ability to maintain a high-trust culture even as it powers the global AI revolution and navigates explosive growth.

Shares of Axe Compute Inc. more than doubled Wednesday, surging as much as 102% to trade around $3.32 midday after the company announced $12 million in newly executed agreements expected to generate roughly $835,000 in monthly recurring revenue as it ramps up its enterprise GPU infrastructure business.

Shares of Cyclerion Therapeutics Inc. skyrocketed more than 313% Wednesday, surging from around $1.55 at Tuesday's close to trade near $6.47 midday as the micro-cap biotech announced a transformative all-stock merger with privately held Korsana Biosciences Inc.

Nike Inc. shares tumbled more than 14% Wednesday, plunging as low as $45.19 intraday after the athletic giant issued a disappointing sales forecast for the current quarter despite beating Wall Street expectations for its fiscal third quarter.

Netflix Inc. shares edged lower Wednesday, trading around $95.66 midday after closing at $96.15 the previous session, as Wall Street positioned for the streaming giant's first-quarter 2026 earnings report scheduled for April 16.

Intel Corp. shares jumped more than 9% to $48.39 in morning trading Wednesday, extending a remarkable recovery that has seen the chipmaker's stock more than double over the past year as investors bet on the company's aggressive foundry ambitions, AI processor momentum and progress under the U.S. CHIPS Act.

Alphabet Inc. shares rose more than 2% to around $294.42 in morning trading Wednesday as investors weighed the Google parent's aggressive push into artificial intelligence against its dominant search business and surging cloud revenue, with most Wall Street analysts maintaining a strong buy rating and projecting further gains over the next five years.

GameStop Corp. shares traded near $23 early Wednesday, inching up slightly in thin pre-market and morning action on April 1, 2026, as the meme-stock favorite continued its relatively stable performance following last month's fiscal fourth-quarter results that showed record annual profit even as revenue declined.

SYDNEY — Australia's largest bank, Commonwealth Bank, delivered a blockbuster half-year cash profit of $5.45 billion in early 2026, fueled by robust lending growth and market share gains in home loans and deposits. Yet the celebration was short-lived as the bank revealed it is investigating up to $1 billion in potentially fraudulent mortgages, some allegedly involving AI-generated fake documents, and has referred the matter to police.

LONDON — London's benchmark FTSE 100 index climbed sharply in early trading Wednesday, rising 1.58% or 160.48 points to 10,336.93 as investors appeared to shake off recent geopolitical jitters and bargain-hunt after a volatile March, with the blue-chip gauge trading in a wide range between 10,169.30 and 10,366.46 by mid-morning.

Shares of Palantir Technologies Inc. climbed sharply Tuesday as the data analytics and artificial intelligence powerhouse continued to ride momentum from blockbuster government contracts, accelerating commercial adoption of its AI platform and strong 2026 revenue guidance that has Wall Street buzzing about sustained hyper-growth.

NEW YORK — Pfizer Inc. shares ticked up modestly Tuesday as investors weighed fresh positive oncology data against the pharmaceutical giant's flat revenue guidance for 2026 and ongoing pressures from declining COVID-19 product sales.