{"id":60675,"date":"2026-04-08T09:38:23","date_gmt":"2026-04-08T13:38:23","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-surge-on-us-iran-ceasefire-and-reopening-of-strait-of-hormuz\/60675\/"},"modified":"2026-04-08T09:38:23","modified_gmt":"2026-04-08T13:38:23","slug":"global-markets-surge-on-us-iran-ceasefire-and-reopening-of-strait-of-hormuz","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-surge-on-us-iran-ceasefire-and-reopening-of-strait-of-hormuz\/60675\/","title":{"rendered":"Global Markets Surge on US-Iran Ceasefire and Reopening of Strait of Hormuz"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Global markets rallied sharply following a surprise two-week ceasefire agreement between the U.S. and Iran, leading to the immediate reopening of the Strait of Hormuz.<\/strong><\/li>\n<li><strong>Crude oil prices plummeted to the low $90s per barrel, sparking a massive surge in travel and aviation stocks, with Delta Air Lines (<a href=\"\/stock\/DAL\">DAL<\/a>) and Carnival Corp (<a href=\"\/stock\/CCL\">CCL<\/a>) gaining over 10%.<\/strong><\/li>\n<li><strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>) is reportedly set to launch its first foldable iPhone in September 2026, according to a new Morgan Stanley analysis.<\/strong><\/li>\n<li><strong>The World Bank revised India\u2019s 2026\/27 growth forecast upward to 6.6%, while lowering projections for Turkey, Russia, and Sub-Saharan Africa due to ongoing geopolitical instability.<\/strong><\/li>\n<li><strong>Iran has introduced a controversial $1 per barrel transit fee for oil passing through the Strait of Hormuz, demanding payment exclusively in cryptocurrency.<\/strong><\/li>\n<\/ul>\n<h2>Geopolitical Breakthrough and Market Rally<\/h2>\n<p>Global financial markets experienced a significant relief rally on Wednesday following the announcement of a <strong>two-week ceasefire between the United States and Iran<\/strong>. The agreement includes the <strong>reopening of the Strait of Hormuz<\/strong>, a critical maritime chokepoint that had been partially closed due to escalating regional tensions. State media confirmed that the <strong>first ship has already passed through the Strait<\/strong> with Iranian permission.<\/p>\n<p>The news sent U.S. equity futures soaring in <a href=\"https:\/\/stockmarketwatch.com\/markets\/pre-market\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Premarket Movers\">pre-market trading<\/a>, with <strong>Nasdaq futures (NQ) rising 3.4%<\/strong> and <strong>Russell 2000 futures (RTY) jumping 3.7%<\/strong>. In Europe, France\u2019s <strong>CAC 40 index increased by 5%<\/strong> to reach 8,304.55. Investors are reacting to the sudden de-escalation, though the <strong>Iranian Military<\/strong> warned it remains prepared to respond forcefully to any future provocations from the U.S. or Israel.<\/p>\n<h2>Energy Markets and the &quot;Crypto Transit Fee&quot;<\/h2>\n<p>The reopening of the Strait caused <strong>crude oil prices to sink into the low $90s per barrel<\/strong>, providing immediate relief to energy-intensive industries. However, the <em>Financial Times<\/em> reported that Iran is now demanding a <strong>$1 per barrel transit fee<\/strong> for all oil passing through the Strait of Hormuz, with the caveat that <strong>payments must be made in cryptocurrency<\/strong>.<\/p>\n<p>The <strong>International Energy Agency (IEA)<\/strong> Chief warned that while Europe can manage until April, a failure to fully resolve the transit issues could lead to <strong>air traffic restrictions by mid-May<\/strong>. The IEA noted that supply issues for <strong>diesel and kerosene<\/strong> will escalate if the Strait does not remain completely open, emphasizing that global energy policy issues are far from a permanent resolution.<\/p>\n<h2>Travel Stocks Surge as Oil Prices Retreat<\/h2>\n<p>The slump in oil prices triggered a massive &quot;risk-on&quot; move in the travel and leisure sectors. <strong>Delta Air Lines (<a href=\"\/stock\/DAL\">DAL<\/a>)<\/strong> shares surged <strong>12.6%<\/strong>, extending gains following its Q1 earnings report. Cruise operators also saw double-digit growth, with <strong>Carnival Corp (<a href=\"\/stock\/CCL\">CCL<\/a>)<\/strong> up <strong>10.7%<\/strong> and <strong>Royal Caribbean (<a href=\"\/stock\/RCL\">RCL<\/a>)<\/strong> rising <strong>8.7%<\/strong>.<\/p>\n<p>In other corporate news, <strong>Apple (<a href=\"\/stock\/AAPL\">AAPL<\/a>)<\/strong> is expected to enter the foldable smartphone market this autumn. <strong>Morgan Stanley<\/strong> analysts project a <strong>September 2026 launch for the foldable iPhone<\/strong>, a move expected to revitalize the company\u2019s hardware cycle. Meanwhile, <strong>FedEx Freight (<a href=\"\/stock\/FDX\">FDX<\/a>)<\/strong> issued a positive outlook, projecting <strong>$8.7 billion in revenue<\/strong> for fiscal 2026.<\/p>\n<h2>World Bank Revisions and Global Growth<\/h2>\n<p>The <strong>World Bank<\/strong> released a comprehensive update to its 2026 economic projections, highlighting a widening gap between emerging economies. <strong>India\u2019s growth forecast was upgraded to 6.6%<\/strong>, up from 6.3%, as the country continues to benefit from robust domestic demand. In contrast, the bank <strong>lowered Turkey\u2019s growth forecast to 2.8%<\/strong> and expects <strong>Russia\u2019s growth to slow to a marginal 0.8%<\/strong>.<\/p>\n<p>The report warned that <strong>South Asia<\/strong> remains vulnerable to financial instability and <strong>AI-related threats to service exports<\/strong>. Growth in the <strong>East Asia Pacific<\/strong> region is also expected to decline to <strong>4.2% in 2026<\/strong>, weighed down by <strong>China\u2019s<\/strong> sluggish property market and low domestic demand, with China&#39;s growth maintained at a modest <strong>4.2%<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Global markets rallied sharply following a surprise two-week ceasefire agreement between the U.S. and Iran, leading to the 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