Bonds & Stocks
A slew of strong corporate profits lifted stocks a day after President Donald Trump extended a ceasefire with Iran, though attempts to resolve the conflict struggled without any signs the Strait of Hormuz will reopen soon. Oil climbed. The S&P 500 rose 0.7%. The yield on 10-year Treasuries declined one basis point to 4.28%.
Economy
US pending home sales increased more than expected last month despite higher mortgage rates, data from the National Association of Realtors showed. The forward-looking indicator of home sales based on contract signings increased 1.5% month over month in March. Analysts expected a 0.5% gain.
World
US President Donald Trump indefinitely extended a ceasefire with Iran after the two sides failed to meet for more peace talks, with the war developing into a game of brinkmanship over the critical Strait of Hormuz.