Middle East conflict hopes continue to support markets.
U.S. stocks rose on Wednesday, extending gains for a second straight session as optimism grew that the U.S.-Iran conflict could move closer to a resolution. The S&P 500 advanced 0.72%, the Nasdaq Composite gained 1.16%, and the Dow Jones Industrial Average added more than 200 points, with Western Digital (WDC) and Sandisk leading S&P 500 gainers, while Boeing (BA) and Caterpillar (CAT) paced the Dow.
The move was supported by easing oil prices after President Donald Trump signaled that a ceasefire could be considered if conditions around the Strait of Hormuz improve. Markets also reacted to expectations that U.S. forces could begin withdrawing from the region within weeks, reinforcing hopes that tensions may start to ease.
Oil prices declined on the session, with WTI crude falling to around $100 per barrel and Brent crude settling near $101. Lower energy prices helped improve sentiment, particularly after weeks of volatility driven by geopolitical uncertainty.
Despite the rebound, investors remain cautious as the situation is still evolving. Market participants continue to watch for clearer signals of de-escalation, with Trump expected to provide further updates that could influence short-term direction.
Within equities, gains were relatively broad. Technology stocks continued to perform well, with most of the Magnificent Seven finishing higher, led by a nearly 3.5% rise in Alphabet (GOOGL), while Microsoft (MSFT) was the only laggard, as the overall market benefited from improving risk sentiment following the sharp rally seen at the end of March.
📊 Market Wrap
🧠 Analyst Notes
💬 Market Highlights
Memory Price Decline Seen as Temporary Correction, Fundamentals Remain Strong
GF Securities believes the recent decline in memory spot prices is likely just a correction and should stabilize as more long-term contracts are signed. The drop was driven by previously elevated spot premiums versus contract pricing, along with channel inventory adjustments and speculative position unwinds. However, underlying demand remains strong, particularly from AI.
AI servers are expected to account for roughly 37% of DRAM demand this year, with continued growth through 2028. With supply growth lagging demand, the memory market is expected to remain structurally tight. Long-term agreements by players such as Micron (MU), Samsung, and SK Hynix should improve earnings visibility and support valuations over time.
UnitedHealth Upgraded on AI-Driven Earnings Upside Potential
UnitedHealth (UNH) was upgraded to Outperform by Raymond James with a $330 price target, based on expected earnings upside in the coming years. The firm projects 2027 and 2028 EPS to exceed consensus by approximately 7.5% and 8%, respectively. Key drivers include AI initiatives that could reduce administrative costs and margin improvements in the Optum Health segment.
From a valuation perspective, UNH is trading at around 10–13x forward earnings, in line with peers but at a discount to its historical multiple, suggesting potential upside if execution remains strong.
Google Developing Screenless Fitbit to Expand AI Wearable Ecosystem
Google (GOOG) (GOOGL) is reportedly developing a new screenless Fitbit device aimed at competing with wearables like Whoop and Oura. The product is expected to offer basic functionality with additional features unlocked through a subscription model, alongside integration with an AI-powered personal health coach in the Fitbit app. The device is set to launch later this year and represents part of Google’s broader strategy to expand its AI-driven wearable ecosystem.
Unlike Apple (AAPL), which continues to focus on screen-based smartwatches, Google is pursuing a more minimalistic approach centered on health data and long-term user engagement.
📅 Earnings Watch
Geopolitical developments and oil price movements remain key drivers, with markets likely to stay sensitive to any confirmation of de-escalation in the coming sessions.
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Note: U.S. stock markets are closed on Good Friday, April 3, 2026, so Gotrade Daily will not be published on that day.
