Pre-Market · Thursday, April 2, 2026 · Holy Week tape
Since the last pre-market edition, the cash market printed another green Wednesday — then the overnight complex turned. Reuters lines picked up by MarketScreener showed E-mini S&P 500 futures down about 1%, Nasdaq 100 down about 1.3%, and Dow futures off roughly 0.9% as crude lurched higher and geopolitical headlines hardened. The opening auction has to reconcile both tapes.
+46.80 pts · +0.7% · AP final · building on Tuesday’s larger bounce.
S&P E-mini ~−1.0%
Nasdaq 100 ~−1.3%
Dow ~−0.9%
Early Wednesday, a separate Reuters dispatch (also on MarketScreener) had pointed to firmer E-minis — S&P up 0.5%, Nasdaq 100 up 0.7%, Dow up 0.4% — before the cash session. By Thursday morning the same wires were flagging declines near 1% on the S&P contract, illustrating how fast Iran-energy cross-currents are rewiring risk.
AP’s Wednesday wrap described a worldwide equity bid and softer crude — then reminded readers that several earlier bursts of optimism in this war had been erased just as fast once fighting intensified.
“Hope has been quick to reverse to doubt on Wall Street, triggering manic swings back and forth for financial markets since the war with Iran began.” Associated Press · Stan Choe · Apr 1, 2026AP News · volatility framing · Apr 1, 2026
The Commerce Department said Wednesday that retail sales rose 0.6% in February after a revised 0.1% decline in January — a print analysts called resilient given inflation pressure, with the caveat that March may look different as gasoline spending surges in the data.
Month-over-month retail sales · February · Commerce Dept. via AP
AAA data cited by AP put the average U.S. gallon at $4.06 overnight — up another 4 cents — while Brent was described as sitting near $101 after recent declines, still far above pre-war levels.
$4.06/ gal · overnight update
~$101/ bbl · AP Wednesday
Wednesday’s AP market story noted the benchmark 10-year yield rose to 4.32% from 4.30% late Tuesday — a small move, but one that arrived alongside the retail beat and manufacturing data described as slightly stronger than expected.
AP reported that three in five S&P 500 stocks rose, with Big Tech leading; Alphabet gained 3.4% and Nvidia rose 0.8% among the forces lifting the index.
Nike sank 15.5% despite beating profit expectations, with analysts pointing to soft forward guidance. Exxon Mobil fell 5.2% and Chevron 4.6% as crude prices slipped in the cash session.
South Korea’s market surged 8.4% while catching up to Wall Street’s Tuesday jump. Japan’s Nikkei 225 rose 5.2%. French and German benchmarks gained more than 2%.
The Department of Labor publishes state unemployment-insurance weekly claims each Thursday morning; economists watch the release for real-time labor-market stress alongside Friday’s payrolls cycle (with Good Friday closures affecting some desks).
DOL release · prior week’s initial claims context available via FRED calendar.
FRED · weekly claims release calendarLilly shares rose 3.8% after U.S. regulators approved its GLP-1 oral therapy for weight loss — a headline that competed for attention with the war and energy complex.
GLP-1 pill approval · AP market wrap
AP reported that shortly before Wednesday’s open, Trump claimed on social media that Iran had asked the U.S. for a ceasefire — while Iran’s Foreign Ministry spokesman called the claim “false and baseless” per Iranian state television. The episode is a template for how headline volatility can arrive before the first print.
AP News · ceasefire claim & denial · Apr 1, 2026 AP News · ongoing conflict developments · Apr 1, 2026Holy Week · thin desks can amplify moves — watch size, not noise
Thursday is a reset day: hard labor data at 8:30, continuous headline flow from the Middle East and energy, and positioning into a holiday-shortened payrolls week for many traders.
First read on layoff pressure after a volatile quarter — compare to recent four-week averages in FRED.
Overnight wires moved futures on Iran rhetoric and crude; watch whether cash equities validate or fade the futures print.
Risk-off mornings often show coordinated moves across rates and FX — use the TradingView strip above as a live cross-check.
Nike’s guide and energy majors’ beta to oil may diverge from the index again if crude volatility persists.
Many desks note Good Friday closures; confirm your feed’s release times for payrolls-adjacent prints.