Morning Bid: Tech overwhelms Iran tension

• South Korea's Kospi reached a new high since the Iran war began, with SK Hynix hitting an all-time high; Amazon announced up to $25 billion investment in Anthropic following a $50 billion OpenAI investment
• Apple named hardware chief John Ternus as next CEO to succeed Tim Cook in September, with Cook staying as executive chairman after boosting Apple's market value by $3.6 trillion over 15 years
• Fed Chair nominee Kevin Warsh faces Senate confirmation hearing today, while U.S. March retail sales data will provide insight into consumer behavior during the first month of the Iran war and oil shock

Market Summary: Tech Overwhelms Iran Tension

Key Developments

Tech stocks demonstrated resilience despite ongoing Gulf tensions and the expiration of a U.S.-Iran ceasefire on Wednesday, April 23, 2026. After Wall Street indexes dipped on Monday, futures rebounded overnight with tech-heavy global bourses, particularly in Asia, pushing higher.

Major Companies and Deals

Amazon announced a massive investment of up to $25 billion in AI startup Anthropic, following its previous $50 billion investment in OpenAI. These deals are setting the tone for upcoming U.S. tech earnings this week.

Apple announced a leadership transition, with hardware chief John Ternus succeeding Tim Cook as CEO on September 1. Cook, who increased Apple's market value by $3.6 trillion over his 15-year tenure, will remain as executive chairman. The stock largely shrugged off the announcement.

Tesla is reporting earnings on Wednesday, while SpaceX is holding investor meetings ahead of a planned record-breaking IPO later in 2026.

Asian Market Performance

South Korea's Kospi reached new highs for the first time since the Iran war began. SoftBank surged, and memory chipmaker SK Hynix hit an all-time high. Markets in Tokyo and Taiwan also posted tech-led gains.

Market Outlook

Investors are balancing renewed AI enthusiasm against geopolitical uncertainties. Key focus points include whether Iran will join peace talks (scheduled for Wednesday) and potential ceasefire extensions.

Fed Chair nominee Kevin Warsh faces his Senate confirmation hearing today, while U.S. March retail sales data will provide insights into consumer behavior during the first month of the Iran-related oil shock.