Markets Steady Near Records Amid Bank Earnings, Iran Blockade

TL;DR

WSJ live coverage tracks premarket trading amid U.S. economic resilience reports and Mideast tensions.
Bank of America cites steady consumer spending despite war and high gas prices; Hermès sales miss raises luxury sector worries; Brent crude nears $95-$96/barrel.
Markets shrug off Iran port blockade uncertainty, with S&P 500 futures flat near record after prior rally.

The story at a glance

Wall Street Journal's live blog covers early April 15 trading updates, including bank earnings like Bank of America and Morgan Stanley, luxury stock declines led by Hermès, and oil price moves tied to the U.S. blockade of Iranian ports. President Trump called the Iran war "very close to over," but investors weigh that against Strait of Hormuz risks. Coverage follows Tuesday's rally, with S&P 500 now less than 0.2% from its record high.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-15-2026)

Key points

Bank of America reports U.S. consumer spending held firm through turbulent year start and rising pump prices, signaling economic resilience; Morgan Stanley posts strong quarter premarket.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-15-2026)
Luxury stocks drop sharply after Hermès flags weak Q1 sales growth, sparking fears its business model is cracking under war's hit to discretionary spending.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-15-2026)
Brent crude climbs to around $95-$96/barrel as U.S. military confirms full implementation of Iranian ports blockade overnight.[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-15-2026)
Stock futures little changed premarket, following Tuesday's gains: S&P 500 up 1.2% to near-record, Nasdaq nearly 2%, Dow +0.7% or 318 points to 48,536.[[2]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-14-2026)
Markets largely ignore Mideast uncertainty, with Trump telling Fox's Maria Bartiromo the Iran war is "very close to over."[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-15-2026)

Details and context

The coverage reflects investor focus shifting to corporate earnings amid ongoing U.S.-Iran conflict, where a naval blockade targets Iranian exports through the Strait of Hormuz—removing up to 2 million barrels/day from global supply—but stocks have rallied this week on de-escalation hopes.[[3]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-13-2026/card/Pnu2yajfS58SpVL4GIH1)

Tuesday's session saw broad gains despite the blockade: Nasdaq extended its win streak to 10 days, oil dipped 4.6% to $94.79/barrel for June Brent, as some ships transited the strait while Iranian vessels reversed course under U.S. orders.[[4]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-15-2026/card/6qThwqbEWKS3zahwAZje)

Banks highlight consumer strength but note energy costs starting to pinch; luxury weakness underscores war's uneven toll on spending.

Key quotes

President Trump: "Iran war is very close to over."[[1]](https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-04-15-2026)

Why it matters

Geopolitical risks from the Hormuz blockade keep oil volatile, threatening inflation and global supply chains. Investors and consumers face higher energy costs, but resilient U.S. spending and bank results support market stability near records. Watch Iran talks progress, bank earnings details, and oil flows for trading direction.