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European stock markets are projected to open higher on Tuesday as investors monitor the expiration of a two-week U.S.-Iran ceasefire. The deadline was initially set for 12:00 a.m. GMT Tuesday but President Trump later extended it to Wednesday evening Washington time. Markets remain cautious amid uncertainty over peace talks and the threat of potential military escalation.

• European indices expected to rise modestly, with Germany's DAX up 0.24%, France's CAC up 0.2%, and Italy's FTSE MIB up 0.6%
• Trump threatened Iran with 'overwhelming military force' and 'lots of bombs' if the ceasefire expires, while peace talk status remains unclear
• U.S. markets showed mixed performance overnight with the S&P 500 snapping a 13-day winning streak during the regular session

SpaceX is hosting a three-day analyst meeting at its Texas launch facility and Tennessee data center as it prepares for a late June IPO targeting a $1.75 trillion valuation and aiming to raise $75 billion, which would be the world's largest-ever public offering. The briefings include tours of Starbase facilities and the company's Colossus data center, with executives seeking to convince Wall Street analysts of the combined SpaceX-xAI entity's worth. Elon Musk plans to allocate approximately 30% of shares to retail investors.

• The IPO would raise $75 billion at a $1.75 trillion valuation, combining SpaceX's rocket and Starlink operations with xAI (merged in February), creating a unique tech-aerospace conglomerate
• Investors are benchmarking SpaceX against AI infrastructure companies like Palantir, GE Vernova, and Vertiv rather than traditional aerospace firms like Boeing to justify the valuation
• Morgan Stanley, Bank of America, Citigroup, JPMorgan, and Goldman Sachs are leading the deal, with 16 additional banks participating across institutional, retail, and international channels

Oil prices fell in Asian trading Tuesday as uncertainty surrounds U.S.-Iran peace talks ahead of a ceasefire deadline. Vice President JD Vance is expected to lead U.S. negotiations in Pakistan, while Iran has rejected talks 'under the shadow of threats' and President Trump has warned of military action if no agreement is reached. The ongoing Strait of Hormuz disruption continues to drive supply concerns and price volatility.

• WTI crude futures dropped 1.51% to $88.26 per barrel while Brent crude slid 0.68% to $94.87 per barrel as investors assessed mixed signals from both sides
• Rystad Energy warns that sustained oil prices above $100 could unlock 2.1 million barrels per day of new supply from South America, positioning the region as the world's most consequential source of incremental supply
• Tensions escalated after U.S. forces seized an Iranian ship Sunday as part of Trump's blockade of Iranian ports, with the Strait of Hormuz disruption exposing concentrated global supply chain vulnerabilities

Ethiopian Airlines announced the purchase of six additional Boeing 787-9 Dreamliner aircraft to expand its long-haul route network across Africa, the United States, and Asia. The carrier is converting six existing options into firm orders, adding to its previous order of 20 new 787s including nine ordered in January.

• Ethiopian Airlines, Africa's largest carrier, is expanding its fleet by converting six Boeing 787-9 options to firm orders
• The purchase builds on the airline's previous commitment of 20 new 787s, with nine ordered as recently as January 2025
• The expansion targets growth in long-haul routes connecting Africa with the United States and Asia

Tesla has settled a wrongful death lawsuit stemming from a 2018 crash in Florida that killed two teenagers, including a passenger whose family sued. The plaintiff alleged a Tesla technician disabled a speed limiter without parental knowledge, while Tesla denied wrongdoing and blamed the driver's reckless operation. The settlement terms were not disclosed, and the case was resolved just as trial was set to begin.

• The 18-year-old driver was traveling at 116 mph on a curve with a 25 mph limit when the 2014 Tesla Model S crashed into concrete walls, killing both occupants
• Parents claimed a Tesla technician removed speed-limiting software that had capped the vehicle at 85 mph without their knowledge or consent
• Tesla faces ongoing litigation over vehicle crashes, including appealing a $243 million jury verdict in a separate 2019 Autopilot-related fatal crash case in Florida

Apple announced on Monday that John Ternus will succeed Tim Cook as CEO, with Cook transitioning to executive chairman on September 1. This marks Apple's first CEO transition since Cook replaced Steve Jobs in 2011. Cook will remain in his current role through the summer to ensure a smooth handover.

• John Ternus, currently senior vice president of hardware engineering, will take over as CEO on Sept. 1, 2026
• Tim Cook will transition from CEO to executive chairman, ending his tenure leading Apple that began in 2011
• The transition period will run through summer 2026 to allow Cook to work closely with Ternus on the handover

Amazon has agreed to invest up to $25 billion in AI startup Anthropic, adding to its previous $8 billion investment. In exchange, Anthropic committed to spend over $100 billion on Amazon Web Services technologies over the next decade. The deal expands AI infrastructure capacity as demand for Anthropic's Claude models surges among enterprise customers.

• Amazon will invest $5 billion immediately at Anthropic's $380 billion valuation, with up to $20 billion more tied to commercial milestones
• Anthropic will secure up to 5 gigawatts of capacity using Amazon's custom Trainium AI chips and bring nearly 1 gigawatt online by year-end
• Amazon expects to spend roughly $200 billion on capital expenditures in 2026, mostly for AI infrastructure, as it competes with other cloud providers for AI dominance

JetBlue Airways CEO Joanna Geraghty reassured employees that the airline is not considering bankruptcy despite facing pressure from rising jet fuel costs. The carrier recently secured $500 million in debt financing backed by up to 22 aircraft, with an option for an additional $250 million, as it works toward financial recovery.

• JetBlue secured $500 million in aircraft-backed debt financing with an option to raise an additional $250 million to bolster liquidity
• The CEO emphasized the airline has 'ample liquidity and access to additional capital' amid bankruptcy speculation
• Geraghty addressed industry consolidation speculation, noting any further consolidation would face regulatory review with uncertain outcomes

The National Security Agency is reportedly using Anthropic's Mythos Preview, a powerful cybersecurity AI model that was withheld from public release due to offensive capabilities. This occurs despite an ongoing dispute where the Pentagon labeled Anthropic a national security concern after the company refused to provide unrestricted access to its models for mass surveillance and autonomous weapons development.

• Anthropic limited Mythos access to approximately 40 organizations due to the model's offensive cyberattack capabilities, with the NSA using it primarily to scan for exploitable vulnerabilities
• The Pentagon has filed a lawsuit against Anthropic arguing its tools threaten national security, stemming from the company's refusal to enable mass domestic surveillance and autonomous weapons use
• Anthropic's CEO Dario Amodei recently met with White House officials including Chief of Staff Susie Wiles and Treasury Secretary Scott Bessent, suggesting improving relations with the Trump administration

A tornado struck Rivian's Illinois manufacturing facility over the weekend, damaging a newly constructed building used for parts storage and logistics for the company's upcoming R2 electric vehicle. CEO RJ Scaringe informed employees that operations in the affected area should resume this week, with assembly lines and other major plant sections continuing to operate normally and no injuries reported.

• The tornado hit Building 2, a new facility specifically used for parts storage and logistics for Rivian's crucial R2 model, which is expected to be a key product for the company's future
• The National Weather Service classified nearby tornadoes as EF1 with estimated peak winds of 100 mph, causing roof and wall damage to the recently constructed building
• Assembly lines and other major portions of the plant continue operating as planned, with the damaged area expected to resume operations within the week

AI nuclear power startup Fermi experienced sudden leadership upheaval as co-founder and CEO Toby Neugebauer and CFO Miles Everson abruptly departed the company. The exits come as Fermi's Project Matador, an AI campus in Amarillo, Texas, designed to use nuclear reactors to power data centers, has faced recent struggles including friction with a key customer.

• Neugebauer stepped down as chairman but remains on the board, with Lead Independent Board Director Marius Haas assuming the chairman role
• Everson was elected as a board director through director designation rights held by the Melissa A. Neugebauer 2020 Trust
• Fermi, co-founded by former U.S. Energy Secretary Rick Perry, framed the departures and plans for a Dallas headquarters as progress signals to investors despite Project Matador's recent difficulties

The family controlling Brown-Forman, maker of Jack Daniel's whiskey, favors selling the company to French distiller Pernod Ricard over a competing bid from American spirits company Sazerac. The family views Pernod as more prestigious with stronger brands, and the proposed deal would create the world's second-largest spirits maker behind Diageo.

• Pernod Ricard's proposed deal structure is 80% stock and 20% cash, allowing the Brown-Forman family to retain meaningful stake and influence in the combined company
• Sazerac has offered approximately $15 billion ($32 per share) in a more traditional buyout structure
• The family prefers Pernod due to its portfolio of more recognizable brands compared to Sazerac's offerings like Corazon tequila and Svedka vodka

Italian energy company Eni and Spain's Repsol have reached an agreement with Venezuela to export natural gas from an offshore field in the Gulf of Venezuela by the end of 2031. The deal will allow the companies to more than double production at the long-stalled field and export the fuel as liquefied natural gas from a floating terminal.

• Production at the offshore field in the Gulf of Venezuela will more than double under the agreement
• Gas exports will be shipped as liquefied natural gas (LNG) from a floating terminal
• The project revives a long-stalled effort to expand production from the massive offshore field

McKesson is selling a 13% minority stake in its medical-surgical solutions business to Apollo Funds for $1.25 billion, valuing the unit at approximately $13 billion. The transaction is part of McKesson's preparation to spin off the surgical supplies business through an IPO while retaining majority ownership and control. The move allows McKesson to focus on its core drug distribution operations.

• Apollo Funds will acquire approximately 13% of the business through a convertible preferred equity investment valued at $1.25 billion
• The transaction values McKesson's medical-surgical solutions unit at roughly $13 billion total
• McKesson will retain majority ownership and control of the unit as it prepares for an independent IPO of the surgical instruments and services business

Psychedelic drug company stocks surged up to 26% in premarket trading after President Trump signed an executive order directing the FDA to expedite reviews of psychedelic treatments like ibogaine for mental health conditions. The order also allocates $50 million for federal research and could reduce FDA review times from 6-10 months to just 1-2 months for breakthrough therapies.

• Major gainers include ATAI Life Sciences (+26%), Compass Pathways (+24%), and GH Research (+17%) as the order provides 'official stamp of validation' to the psychedelic drug class
• The order directs FDA to grant Commissioner's National Priority Vouchers to breakthrough psychedelic therapies, potentially enabling approval decisions as soon as summer 2026
• Trump committed $50 million in federal funding for ibogaine research, a Schedule I substance being studied for PTSD, depression, and addiction treatment

Elon Musk was summoned to appear before French prosecutors on April 20, 2026, as part of an investigation into X and its AI chatbot Grok involving alleged fraudulent data extraction, child pornography distribution, and sexual deepfakes. While attendance is mandatory, authorities cannot compel Musk to appear at this stage, and it remains unclear if he will attend the hearing.

• The probe initially focused on fraudulent data extraction following a raid on X's French office, then expanded to include suspected complicity in distributing child pornography and creating sexual deepfakes
• Former X CEO Linda Yaccarino and other staff members have also been summoned as witnesses for questioning
• The U.S. Justice Department reportedly sent a letter refusing to cooperate with the French probe, calling it 'politically motivated,' which could further strain U.S.-Europe relations over Big Tech regulation

Italian energy company Eni announced a major gas discovery in the Ganal block offshore Indonesia on April 20. Preliminary estimates indicate approximately 5 trillion cubic feet of gas and 300 million barrels of condensate in place. The company is evaluating accelerated development options leveraging proximity to existing infrastructure.

• The discovery was made by the Geliga-1 exploration well at 5,100 meters depth in 2,000 meters of water
• Resources estimated at 5 trillion cubic feet of gas and 300 million barrels of condensate
• Eni is analyzing fast-track development options using nearby existing and planned infrastructure for cost optimization and faster time-to-market

Samsung SDI has secured its first electric vehicle battery supply agreement with Mercedes-Benz in a multi-year deal announced April 20. The South Korean battery maker will supply high-nickel NCM batteries for Mercedes' next-generation EVs, specifically targeting future compact and mid-size electric SUVs and coupe models.

• The batteries will use high-nickel NCM (nickel, cobalt, and manganese) chemistry technology
• Mercedes-Benz plans to use the batteries in upcoming compact and mid-size electric SUV and coupe models
• Samsung SDI did not disclose the financial size or volume details of the multi-year agreement

Oil prices surged more than 7% on Monday following the closure of the Strait of Hormuz, after the U.S. and Iran accused each other of violating a ceasefire deal by attacking ships. This rebound followed a sharp 9% decline on Friday, creating significant volatility in global energy markets.

• Brent crude futures jumped $6.56 (7.26%) to $96.94 per barrel, while WTI crude rose $6.07 (7.24%) to $89.92 per barrel
• The Strait of Hormuz closure disrupts a critical global oil transit route, amplifying supply concerns amid U.S.-Iran tensions
• The price surge triggered broader market reactions, with the U.S. dollar rising and stock futures falling as investors responded to escalating geopolitical risk

Google is in discussions with Marvell Technology to develop two new AI chips designed to run AI models more efficiently. The chips include a memory processing unit to work with Google's tensor processing units (TPUs) and a new TPU specifically built for AI models. This partnership supports Google's effort to position TPUs as a viable alternative to Nvidia's dominant GPUs and drive cloud revenue growth.

• The two chips under development are a memory processing unit designed to work with Google's existing TPUs and a new TPU built specifically for running AI models
• Companies aim to finalize the memory processing unit design by next year before moving to test production
• TPU sales have become a key driver of Google's cloud revenue growth as the company seeks to demonstrate returns on its AI investments and compete with Nvidia's GPU dominance