Global Market Wrap: Asia mixed, Wall Street slips as geopolitical uncertainty lingers

We are back with quick updates about global stock markets and major developments across some of the top companies worldwide.

President Donald Trump confirmed on Thursday that Israel and Lebanon have extended their ceasefire by three weeks after meetings with top US officials. For Asia-Pacific markets, caution remained the mood of the session.

Early in the day, the Japanese market gave investors something to chew on. Nikkei 225 jumped 1.2% to 59,592, buoyed by inflation data showing core prices rising to 1.8% in March.

Whereas, South Korea’s Kospi and Hong Kong’s Hang Seng index traded flat at 6,484 and 25,959, respectively. Singapore’s Straits Times Index dipped 0.1% at 4,936. Australia’s S&P/ASX 200 also closed the Friday’s session flat at 8,759.

Well, Wall Street slipped in choppy Thursday trading as hopes for a quick end to the Iran conflict faded. The S&P 500 dropped 0.4% to close at 7,108, while the Nasdaq Composite dropped 0.9% to settle at 24,438. The Dow Jones Industrial Average dipped 0.3%, to finish at 49,310.

European stocks, too, are expected to open lower on Friday, with tensions rising after Iran tightened control over the Strait of Hormuz.

Oil surged even after the ceasefire talks. Fears of renewed military escalation gripped traders, and to make matters worse, Iran released footage of commandos boarding a cargo ship in the Strait of Hormuz.

International benchmark Brent crude for June delivery rose 0.8% to $105 a barrel. US West Texas Intermediate futures for May delivery surged 0.7% at $96.

Gold edged lower, taking cues from oil as higher energy prices sustained inflation worries. Spot gold was down 0.1% at $4,686 per ounce, while silver also dipped 0.7% to $74.85 per ounce.

Here’s a look at some of the important developments across the global markets:

US President Donald Trump Says Americans Should Expect Higher Gas Prices For ‘A Little While’

President Donald Trump has warned Americans of higher gas prices “for a little while” due to the Iran war, without giving a timeline. He added that he was in no rush for a peace deal, noting markets have remained resilient despite the conflict.

“I have to be honest, the stock market is at an all-time high right now. I thought it would have been down 20, 25 percent,” Trump told reporters in the Oval Office. “I thought oil would go up to maybe $200 a barrel. And oil is a very different number than anyone thought,” Trump added.

OpenAI Rolls Out latest artificial intelligence model GPT-5.5

OpenAI on Thursday unveiled its latest AI model, GPT-5.5, as per the company, is better at coding, using computers and pursuing deeper research capabilities. ChatGPT and Codex’s paid subscribers, including its Plus, Pro, Business and Enterprise users, will be able to access it.

The launch comes weeks after Anthropic came up with its advanced cybersecurity model, Claude Mythos Preview.

Will It Take 275 Days To Clear The Strait of Hormuz Once The Route Reopens? Dow Boss Thinks So

Dow CEO Jim Fitterling has warned it could take 275 days or more just to clear the logistics backlog. The strait has been effectively shut since early March when the Iran war began, severely disrupting global energy and petrochemical flows. “Some scenario planning that we did said that even if the straits were to reopen today, just to clear the logistics logjam… is going to take 275 days, maybe more now,” he told CNBC.

Intel tops Q2 revenue outlook, stock surges 19%

Intel's stock jumped 19% after the chipmaker forecast Q2 revenue of $13.8–$14.8 billion, topping Wall Street's $13.07 billion estimate. The surge added $64 billion to Intel's market value, extending its impressive 81% rebound this year.

Speaking about the surge in CPU demand on a conference call with analysts, CEO Lip-Bu Tan said, “This is not just our wishful thinking - it is what we hear from our customers, and it is evident in the demand profile for our products."