Market reaction to Trump's postponed strikes

What happened: President Trump unilaterally extended the Iran war ceasefire beyond Wednesday's deadline, but it's unclear if other parties agreed. U.S. oil prices tumbled 9% after the extension, while U.S. stocks tumbled Thursday, with the Nasdaq entering correction territory. Trump later delayed strikes for another 10 days, causing Treasury yields to initially fall. Iran rejected the U.S. proposal, presenting its own conditions. Trump expressed confidence in the war effort and expected economic recovery.

Market impact: Energy stocks and oil prices reacted negatively to the ceasefire extension, with U.S. crude prices falling to $102.63 per barrel. U.S. stocks, particularly tech, rebounded Monday as geopolitical tensions eased, with the Dow finishing 1.4% higher. The dollar declined and gold plunged as markets hoped for a swift end to the Iran war. Retail stocks like Dollar General hit 52-week lows but rebounded Tuesday on ceasefire extension news.

What to watch next: The next U.S. inflation data release on April 28, as persistent inflation remains a concern. Iran's response to Trump's latest delay and any potential retaliation. U.S. earnings season, with key reports from tech giants like Microsoft and Apple in late April and early May.