Stocks continue their rally on hopes of swift end to Iran war

Plus: Novo Nordisk launches Wegovy subscription plans to lower costs

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Matt Davis
April 02, 2026

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Stocks continue their rally on hopes of swift end to Iran war

(Google Nano Banana Pro)

Global markets roared higher again yesterday as investors seized on hopes that the devastating Iran war could soon reach a conclusion, though conflicting signals continue to inject uncertainty into an already volatile situation.

The S&P 500 $SPX ( ▲ 0.72% ) climbed further after a 3% rise on Tuesday, building on its best single-day performance since last spring. European and Asian markets posted even more dramatic gains, with South Korea surging an impressive 8.4%.

Oil prices retreated toward $100 per barrel after President Donald Trump claimed on social media that Iran "has just asked the United States of America for a CEASEFIRE!" Trump added provocatively, "We will consider when Hormuz Strait is open, free, and clear. Until then, we are blasting Iran into oblivion."

However, Iran's Foreign Ministry spokesman Esmail Baghaei quickly dismissed Trump's assertion as "false and baseless."

Despite the market optimism, analysts urge caution. Thomas Mathews, head of markets for Asia Pacific at Capital Economics, told the Associated Press, "De-escalation hopes have given markets a lift, but we think the effects of the war would, in many cases, persist even if the war did end soon."

U.K. Prime Minister Keir Starmer will host talks this week between 35 countries aimed at forming a coalition to reopen the Strait of Hormuz, after signaling that Britain will pivot towards the EU after weeks of taunts from President Trump over the U.K.’s stance on the war in Iran.

Novo Nordisk launches Wegovy subscription plans to lower costs

(Getty Images)

Novo Nordisk $NVO ( ▼ 0.74% ) is shaking up the weight-loss drug market with a new subscription-based pricing model for its popular Wegovy treatments, aiming to make the medications more accessible and affordable for American consumers.

The Danish pharmaceutical giant announced Tuesday that eligible patients who self-pay can now choose between three-, six-, or 12-month subscription plans for both the Wegovy injection and the two highest doses of its new pill formulation.

"The program is designed to reduce cost uncertainty and help people start and stay on FDA-approved obesity treatment," Novo Nordisk said in its announcement.

The savings are substantial. Wegovy injections start at $329 monthly for the three-month plan, lowering to $299 for six months, and dropping to $249 a month under the annual subscription — representing up to $1,200 in yearly savings. The pill version ranges from $289 to $249 monthly, offering up to $600 in annual savings.

Patients can currently access the program through telehealth platforms Ro $ROHI ( 0.0% ) , WeightWatchers $WW ( ▲ 2.33% ) , and LifeMD $LFMD ( ▼ 0.83% ) , with Hims & Hers $HIMS ( ▼ 4.43% ) and Sesame joining soon.

The move comes as Novo Nordisk faces fierce competition from Eli Lilly's $LIY ( ▲ 0.81% ) Zepbound, priced between $299 and $449, plus ongoing pressure from compounding pharmacies selling copycat versions. The company has also announced plans to slash list prices for Wegovy and Ozempic starting next year.

Song of the Day: Kevian Kraemer, ‘Down Under’

This song paints a vivid picture of suburban youth — fake IDs and lying to parents —only to crash those memories into the cold reality of a relationship hitting its expiration date. What a beauty.

Delta opts for Bezos, not Musk, to deliver ✈️ WiFi

(Getty Images)

Delta Air Lines $DAL ( ▲ 1.69% ) is betting big on Amazon's $AMZN ( ▲ 1.1% ) satellite internet service, announcing a deal to bring dramatically faster Wi-Fi to 500 aircraft starting in 2028. The partnership marks Amazon's most significant victory yet in the increasingly competitive race to connect passengers at 35,000 feet.

The airline expects Amazon's Leo satellite system to deliver speeds three to five times faster than current offerings — a game-changer for travelers accustomed to sluggish in-flight connectivity.

"In order to stay the leader, you need to continue to move where the technology is going. We've been thinking about what's next," Delta CEO Ed Bastian said in an interview with the Wall Street Journal.

The deal intensifies Amazon's rivalry with SpaceX's Starlink, which has already secured contracts with Southwest Airlines $LUV ( ▲ 1.76% ) and Alaska Air Group $ALK ( ▲ 2.37% ) . While Starlink boasts approximately 10,100 satellites in orbit compared to Amazon's 200, both companies are expanding rapidly.

Amazon CEO Andy Jassy expressed confidence in meeting Delta's needs: "We're very confident we're going to have the capacity to serve Delta and other customers. This is a very important long-term investment we're making."

Beyond connectivity, the partnership will leverage Amazon Web Services to deliver personalized content on seat-back screens, signaling a broader vision for the in-flight experience.

Warren Buffet revives charity lunch, teams up with Steph Curry

Recently retired investor Warren Buffett is bringing back one of philanthropy's most celebrated traditions and adding the world’s highest-paid basketball player to the mix. The 95-year-old Berkshire Hathaway $BRK.A ( ▼ 0.26% ) chairman announced he'll be joined by four-time NBA champion Stephen Curry and entrepreneur Ayesha Curry for a charity lunch auction, blending Wall Street wisdom with celebrity appeal.

"Over the years, I've seen how the business community and innovative nonprofits can work together to create real change," Buffett said in a statement. "This event is about coming together again — in a new way — with people I admire, to support work that truly matters. Partnering with Stephen and Ayesha to help launch something new in support of these communities is something I'm very happy to be part of."

Online bidding opens May 7 on eBay, with proceeds split between the Glide Foundation (a church in San Francisco with a heavy emphasis on its missional work) and the Currys' Eat. Learn. Play. Foundation.

I wish to God they hadn’t punctuated it like that, but there we go. It’s focused on transforming the educational experience for young people in Oakland, where the Golden State Warriors used to play before their ownership team moved them across the bay to San Francisco.

The winning bidder and up to seven guests will dine with Buffett and the Currys in Omaha on June 24. Buffett's previous charity lunches raised over $50 million, including a record $19 million winning bid in 2022.

Quote of the Day

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Execution risk could dampen initial investor enthusiasm.

Spice firm McCormick will buy Unilever's Food business for $45 billion

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Maryland-based spice company $MKC ( ▼ 4.08% ) will pay $15.7 billion in cash for Unilever’s $UL ( ▼ 1.6% ) food business, with Unilever shareholders receiving 55.1% ownership of the combined company. The deal brings iconic brands like Hellmann's mayonnaise, Marmite, and Knorr seasonings under McCormick's umbrella, complementing its existing portfolio of Frank's RedHot, Cholula, and French's products.

"This is a combination of two companies already with the support and the discipline and the knowledge of running the business, coming together to execute this integration," McCormick CEO Brendan Foley said on an investor call Tuesday.

Foley later revealed that McCormick had been contemplating this acquisition "for a number of years."

For Unilever, the divestiture allows the company to concentrate on its faster-growing personal-care segment, following December's spinoff of its ice cream business.

However, investors showed caution, with McCormick shares falling 6% and Unilever dropping 4%. Barclays $BCS ( ▲ 3.17% ) analyst Andrew Lazar noted the "significant strategic merit" but warned that "execution risk" could "dampen initial investor enthusiasm."

The deal is expected to close in mid-2027, pending regulatory approval.

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Here's the paradox no one's talking about: the Iran war should be sending investors into safe havens. But they’re selling instead.

Oil doubled since February 28. Historically, that’s helped drive inflation. Inflation drives rate hike expectations (now at 45%, up from 11%).

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Should you check your 401(k) today?

👍️ 

Yes. It should be up another percent today, bringing it to just about 3% off where it was in February.

Poll of the day: 💉💰

Do you think $249 a month for WeGovy is a good deal?

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Poll of the day: Department of grift?

We asked: Do you think it’s a bit fishy that Defense Secretary Pete Hegseth’s broker at Morgan Stanley reached out to BlackRock in February about dropping a "multimillion-dollar investment" into the Defense Industrials Active ETF?

You answered:

⬜️⬜️⬜️⬜️⬜️⬜️ I'm sure the claim is entirely fabricated, as his spokesman said. (56)
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