Thursday, April 23, 2026…4:10 PM ET
[4:00 PM ET closing prices for stocks; 3:50ish for commodities and bonds.]
Tale of the Tape at the gas pump, nationwide averages, courtesy of AAA.
Fri. Feb. 27…regular gas $2.98…diesel $3.75
Thurs., Apr. 23…reg. $4.03…diesel $5.47
Yesterday, I told you that just as important as the price of crude, you had to watch gasoline futures and that they were up 35 cents in three days…make that 48 in four, to $3.48…the peak for the day, though it was volatile. I noted the rise hasn’t been reflected at your local pump…but that a renewed spike was coming.
Sure enough, while the AAA price above for regular rose just a penny from Wednesday, the two gas stations I pass every day in my routine were already setting prices much higher, as no doubt was the case where you are.
As in the place one block from yours truly went from $4.09 to $4.19 on regular overnight, and a place in neighboring New Providence took the price from $3.99 to $4.19, also overnight.
There’s a pseudo discount place I pass a few times a week and today it was still $3.93. I felt like playing Paul Revere…blaring on a loudspeaker as I drove around, “Head to Hickory Square…Fill up Now!!!”
This morning…President Trump posted on Truth Social at 8:45 AM:
“I have ordered the United States Navy to shoot and kill any boat, small boats though they may be (Their naval ships are ALL, 159 of them, at the bottom of the sea!), that is putting mines in the waters of the Strait of Hormuz. There is to be no hesitation. Additionally, our mine ‘sweepers’ are clearing the Strait right now. I am hereby ordering that activity to continue, but at a tripled up level! Thank you for your attention to this matter.”
And at 9:14 AM:
“Iran is having a very hard time figuring out who their leader is! They just don’t know! The infighting is between the ‘Hardliners,’ who have been losing BADLY on the battlefield, and the ‘Moderates,’ who are not very moderate at all (but gaining respect!), is CRAZY! We have total control over the Strait of Hormuz. No ship can enter or leave without the approval of the United States Navy. It is ‘Sealed up Tight,’ until such time as Iran is able to make a DEAL!!!”
Wall Street rallied to further highs this morning, but then oil spiked, stocks fell hard, amid the Israeli media report that Iranian parliament speaker Ghalibaf, who was heading Iran’s negotiating team, had been told by the Islamic Revolutionary Guard Corps (IRGC) to step down…the ‘infighting’ President Trump was referring to earlier.
The price of West Texas Intermediate (WTI) spiked to $98, gas futures rising as noted above.
It ain’t easy if you’re trying to trade these moves. Bond yields have also been all over the place, intraday, but still in a fairly tight range overall, such as 4.20% to 4.40% on the 10-year treasury bond.
—
The New York Mets snapped their 12-game losing streak Wednesday night at Citi Field against the Twins, 3-2. Here at global HQ, we then partied alllll night.
But just as Juan Soto had returned after a 19-day spell on the IL with a calf strain, fellow star Francisco Lindor, who accounted for all the Mets runs with a 3-run homer, pulled up lame with his own calf issue and is headed to the IL himself. Rather devastating.
It’s a huge sports night…my Knicks are in Atlanta for Game 3 of their playoff series, and at 8:00 PM ET, Fernando Mendoza’s name will be called first in the NFL Draft, selected by the Raiders, while local Jets and Giants fans await the selections for their teams, my Jets at No. 2 and No. 16…the Giants at Nos. 5 and 10. It will be an exciting evening…if I can keep my eyes open after Wednesday’s raucous celebration.
After a volatile session on Wall Street….
Dow Jones -179…-0.4% [49310]
S&P 500 -29…-0.4% [7108]
Nasdaq -219…-0.9% [24438]
Oil (WTI) $96.60…Brent $105.80
Gold $4710
Silver $75.45
Bitcoin $77,750 [4:00 PM ET]
U.S. 2-yr. 3.83%
U.S. 10-yr. 4.33%
Japanese 10-yr. 2.40%
Check out my ‘Week in Review,’ posted Fridays around 4:30 PM ET.
Have a good weekend. Back Monday for another Market Update.
Brian Trumbore
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