Markets Surge After Iran Ceasefire, Apple Hit by iPhone Delay Rumors - The Rundown

Podcast Summary: The Rundown
Episode Title: Markets Surge After Iran Ceasefire, Apple Hit by iPhone Delay Rumors
Host: Zaid Admani
Date: April 8, 2026

Overview

In this concise, action-packed daily market update, Zaid Admani breaks down the key drivers behind the day’s market movements, examining the impact of the US-Iran ceasefire, Delta’s strong earnings amid rising travel costs, a volatile day for Apple stock fueled by iPhone rumors, big wins for Levi’s, the rout in energy stocks, and a look at why used car prices are hitting new highs. The episode is delivered in Zaid’s signature conversational tone, combining sharp analysis with real-world anecdotes.

Key Discussion Points & Insights

1. Markets React to US-Iran Ceasefire

[00:40 – 04:30]

Tension & Deadline: Markets were tense as President Trump’s 8pm deadline for Iran to reopen the Strait of Hormuz approached, with Trump warning that “a whole civilization will die tonight if Iran didn't make a deal.” (Zaid, 01:12)
Resolution: 90 minutes before the deadline, a two-week ceasefire was brokered after intervention by Pakistan’s prime minister. Trump agreed to suspend attacks; Iran allowed transport through the key Strait.
Market Response: Despite the intense rhetoric, stocks closed up (S&P and NASDAQ +0.1%). “I think the entire time investors didn’t believe things would actually escalate and some sort of last minute deal would get worked out. And that’s exactly what happened.” (Zaid, 01:55)
Global Rally: Asian and European markets surged; US futures popped over 2% pre-market.
Oil Prices Fall: Oil dropped from $110 to $95 a barrel, a dramatic one-day move as the Strait’s reopening eased fears over global supply: “Depending on where the price closes today, it could be one of the biggest one day drops for oil in years.” (Zaid, 02:58)
Uncertainty Remains: “We’re still in a pretty fragile situation. I’m hoping this two week ceasefire turns into a long term peace deal… I wonder if investors will now fully put this war behind them or continue to be cautious.” (Zaid, 03:47)

2. Delta Airlines Earnings & Rising Flight Costs

[04:35 – 06:32]

Earnings Beat: Delta stocks surged after Q1 earnings; revenues up 9% ($14.2 billion), exceeding expectations.
Premium Demand: Premium tickets spiked 14% (Q1), while Main Cabin revenue rose for the first time since 2024.
Jet Fuel Costs: War-driven fuel price spikes (+88%), adding $2 billion to Delta’s costs this quarter.
Price Increases: To protect margins, Delta joins United & JetBlue in hiking checked bag fees, cutting back schedule, and not issuing a full-year outlook due to fuel cost uncertainty: “Flights this summer are going to be pretty pricey.” (Zaid, 06:10)
Interesting Fact: Delta owns an oil refinery in Pennsylvania, expected to generate $300 million in Q2 benefits.

3. Apple’s Volatile Day: Foldable iPhone Rumors

[06:33 – 07:52]

Rumor Impact: Nikkei reported Apple would delay its first foldable iPhone due to engineering/manufacturing issues; Apple’s stock fell ~5% (~$150 billion market cap loss).
Bloomberg Correction: Mark Gurman (Bloomberg) reported the device was still on track for September alongside iPhone 18, helping Apple shares recover.
Significance: Foldable iPhone could retail for at least $2,000; major potential impact on Apple earnings: “I got to feel this product is going to be a hit unlike the Apple Vision Pro or the iPhone Air.” (Zaid, 07:42)
Earnings Watch: Apple’s next earnings are about three weeks away; investors await updates, particularly around AI.

4. Stocks on the Move: Levi’s & Energy Sector

[07:53 – 08:51]

Levi’s Pops: Stock up over 10% on crushed earnings. Direct-to-consumer revenue surpasses 50% for the first time—16% growth in Q1.
- “Direct to consumer sales grew 16% in Q1 and now account for 52% of their total revenue.” (Zaid, 08:13)
Pricing Power: Half of revenue growth came from higher prices, not just more sales—monitoring consumer response.
Energy Rout: Oil price drop hits Chevron, Exxon, ConocoPhillips, all down 7%+ after the ceasefire, as their Q1 rally unwinds (energy sector was up 39% in Q1).
- “With things de-escalating in Iran… the energy trade could be over.” (Zaid, 08:40)
Gasoline Watch: Gas crossed $4/gallon nationwide; March CPI out Friday to show impact on inflation.

5. Used Car Prices Surge (Fun Fact of the Day)

[08:52 – 09:30]

Record Highs: Used car prices reach highest since summer 2023.
Why? New car prices hit $49,000 (average), up from $35,000 a decade ago; rising new car costs boost demand for used vehicles—and prices.
Real-Life Anecdote: Zaid recently bought a car, finding prices higher than expected, and credits his brother-in-law’s negotiation skills for saving money.

Notable Quotes & Memorable Moments

“I was glued to my timeline yesterday. It was intense. But the markets got the taco from Trump that they were expecting. It came down to the wire, but it happened.” – Zaid, [03:20]
“Flights this summer are going to be pretty pricey. Oil prices are falling today because of the ceasefire, but I got a feeling these airlines aren’t going to be in a rush to drop prices anytime soon.” – Zaid, [06:10]
“That report caused Apple stock to drop around 5% at its lows yesterday, which is like a $150 billion loss in market cap.” – Zaid, [07:15]
“Direct to consumer sales grew 16% in Q1 and now account for 52% of their total revenue.” – Zaid, [08:13]
“The energy sector was up 39% in Q1, which was the best forever for them… now with things de-escalating in Iran and oil starting to flow, the energy trade could be over.” – Zaid, [08:45]
“The average price of a new car is now $49,000. Ten years ago, a new car was around $35,000.” – Zaid, [08:57]

Useful Timestamps

00:40 – 04:30: Iran ceasefire coverage and market reaction
04:35 – 06:32: Delta Airlines earnings & airfare outlook
06:33 – 07:52: Apple foldable iPhone rumor and stock reaction
07:53 – 08:51: Levi’s earnings beat; energy sector drop
08:52 – 09:30: Used car price surge—what’s driving it?

Takeaways

Markets greeted the US-Iran ceasefire with relief, sending stocks up and oil down.
Delta’s strong earnings underline pent-up travel demand, but airfare hikes are coming as airlines manage fuel costs.
Apple’s rumored product delays can still send shockwaves—and corrections—through the market.
Levi’s succeeds where others (like Nike) have stumbled, by accelerating direct-to-consumer sales.
Used car prices remain high, as historically expensive new cars push buyers out of the primary market.

Zaid wraps up with engaging anecdotes and invites listeners to share their car-buying experiences, reinforcing the show’s community approach while delivering actionable market intelligence.

Transcript

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Public.com presents the rundown. Your daily market update in under 10 minutes. My name is Zaydad Mani and Today is Wednesday, April 8th. In today's episode, we'll tell you how markets are reacting to the US Iran ceasefire. We'll also break down Delta's earnings and why your flights are about to get more expensive. Then we dive into the iPhone rumor that tanked Apple stock yesterday. Finally, stick around to the end of the show to find out why used car prices are surging. We got a great show for you today. Let's go. Yesterday was a pretty intense day for the markets and frankly, the whole world. Everyone was on edge as President Trump's 8pm deadline for Iran to reopen the Strait of Hormuz approached. Trump started the day turning up the rhetoric, warning that a whole civilization will die tonight if Iran didn't make a deal. Now you would think the market would have freaked out over those comments, but they, they barely flinch. Stocks were in the red slightly for most of Tuesday, but they got a last minute surge to finish in the green with both the S and P and Nasdaq closing up 0.1%, which is kind of wild when you think about it. I think the entire time investors didn't believe things would actually escalate and some sort of last minute deal would get worked out. And that's exactly what happened. About 90 minutes before the deadline, the US and Iran agreed to a two week ceasefire. And after Pakistan's prime minister asked both sides to stand down, Trump agreed to suspend attacks on Iran and Iran agreed to allow ships and oil tankers to pass through the Strait of Hormuz. So that was a huge development and sigh of relief. Investors around the world were celebrating. Stocks in Asia and Europe are surging and we're in for a big day here in the US as well. Both the S, P and NASDAQ futures are up more than 2% in the pre market. Oil, on the other hand, is tanking. Oil prices went from $110 a barrel yesterday to around $95 this morning. And depending on where the price closes today, it could be one of the biggest one day drops for oil in years. Remember, about 20% of the world's oil supply flows through the Strait of Hormuz and it's been closed for about a month now. So with it reopening even temporarily, that's relieving pressure on oil prices. But yeah, I got to say, I was glued to my timeline yesterday. It was, it was intense. But the markets got the taco from Trump that they were expecting. It came down to the wire, but it happened. I think that's why investors were hesitant to be overwhelmingly bearish throughout this war, because things could flip on a dime, just like it did yesterday. Now, that being said, we're still in a pretty fragile situation. I'm hoping this two week ceasefire turns into a long term peace deal. But there are still differences on each side that need to be figured out. So we'll see how the next two weeks go and how the market reacts. I wonder if investors will now fully put this war behind them or continue to be cautious until a full peace deal is in place. You know, we'll see what happens. Maybe the markets will finally get some calm over the next few days and weeks. Either way, we'll keep you guys updated here daily. But for now, the market is celebrating, so it's a great time to check your portfolio if you haven't in a while. Let's run through some headlines starting with Delta Airlines. Delta reported earnings this morning and the stock is surging thanks to a solid earnings report. And I'm sure falling oil prices are also helping with that. Q1 was solid for Delta. Revenues were up 9% to $14.2 billion, beating estimates. And profits also came in ahead of expectations. Now, despite the surge in oil prices in March, travel demand remains strong. Premium tickets were the main driver of the growth, jumping 14% in Q1, while Main Cabin ticket revenue also increased for the first time since 2024. So it seems like despite everything happening in the world, people are still booking their travels. Now fuel prices are a problem for Delta. The Iran war has caused jet fuel prices to surge 88% and Delta said that their fuel bill will be $2 billion higher this quarter because of it. Now, in order to protect their margins from the rising costs, Delta is planning to raise prices. Delta joined United Airlines and JetBlue yesterday in hiking checked bag fees. Delta is also trimming back their schedule and growth plans and they're not providing a full year outlook because they just don't know what what's going to happen to jet fuel prices? I think it's pretty safe to say that flights this summer are going to be pretty pricey. Oil prices are falling today because of the ceasefire, but I got a feeling these airlines aren't going to be in a rush to drop prices anytime soon. By the way, a quick fun fact about Delta Airlines, they actually own a oil refinery in Pennsylvania and that refinery is expected to generate $300 million in benefits for Q2. Let's shift gears and talk about Apple. Rumors started flying yesterday that Apple would be delaying their foldable iPhone. A report from Nikkei claimed that Apple was running into engineering and manufacturing problems with their first ever foldable iPhone, which would delay the production and shipment. That report caused Apple stock to drop around 5% at its lows yesterday, which is like a $150 billion loss in market cap. But then a report from Bloomberg's Mark Gurman, who's a friend of the show and very plugged into what's happening at Apple, that the foldable iPhone is still on track for a September launch alongside the iPhone 18. So Apple shares recovered most of their losses after that report from Bloomberg. Obviously, Apple fanboys and tech nerds like me are excited about the foldable iPhone, but so are investors. This foldable iPhone is expected to cost at least $2,000, so it could be a nice boost to Apple's earnings. So I really hope that they actually launch it in time. Now, I'm not sure if I'm going to end up buying a $2,000 foldable iPhone, but I got to feel this product is going to be a hit unlike the Apple Vision Pro or the iPhone. Air Speaking of Apple's earnings, we're about three weeks away from their next earnings report, so we'll see what they have to say in those earnings and, and if they have an Update on their AI plans, you know Apple stock is only about 10% away from its all time highs, which is much better than the other Max 7 companies that are down 15 to 20, even 30% from their highs. So I'm keeping my eye on Apple stock here as we head into earnings season. Let's talk about some stocks making moves today. Shares of Levi's are popping this morning after the denim maker crushed earnings and hit a major milestone. For the first time ever, their direct to consumer sales made up more than half of the company's overall revenue. Levi's has traditionally been a wholesale business. They make their money selling jeans to department stores like Macy's and Nordstrom. But a few years ago, they decided to shift their entire business model towards selling directly through their own store and website, where the margins are better now. This strategy backfired for Nike, but it seems to be working for Levi's. Direct to consumer sales grew 16% in Q1 and now account for 52% of their total revenue. And overall, their business seems to be doing pretty well. Their revenues were up 14% to $1.74 billion, which beat estimates. And their earnings per share also came in ahead of Estimates. Now the one thing to watch here is about half of Levi's revenue growth came from price increases and not just selling more jeans. So we'll see what kind of pricing power Levi's has and if consumers start pulling back, if prices get too high. For now though, investors are loving it. Shares of Levi's are up more than 10% this morning at the time of this recording. Now on the flip side, energy stocks are getting crushed today and this one is pretty straightforward. Oil prices are dropping fast after the US And Iran agreed to a two week ceasefire and reopening the Strait of Hormuz which we talked about earlier. As a result, energy stocks like Chevron, Exxon, ConocoPhillips are all down more than 7% at the time of this recording. Now these stocks were the big winners from Q1. The energy sector was up 39 in Q1, which was the best forever for them. We talked more about this in our recent deep dive. So go check that out if you missed it. But you know, now with things de escalating in Iran and oil starting to flow through the Strait of Hormuz, the energy trade could be over. As for consumers, the big question is going to be when gas prices will start coming down. Prices at the pump just crossed $4 a gallon nationally for the first time since 2022. And remember, we're getting the March CPI report on Friday morning. So we're going to learn more about what impact that's had on inflation. Hopefully we get some relief at the pump now before the summer road trip season. Let's wrap the show with the fun fact. Used car prices are at their highest level since the summer of 2023. So the problem is that new cars continue to get more expensive. The average price of a new car is now $49,000. Ten years ago a new car was around $35,000. So as new cars get more expensive, that's pricing out some buyers and they're turning to the used car market which is increasing demand for used cars and that's pushing up the prices. This one hits close to home because I just bought my wife a car and yeah, it was, it was a lot more expensive than I thought it was going to be. Shout out to my brother in law though. He's one of those people that's really good and relentless and negotiating when it comes to buying a car and he was able to save us a lot of money and get us a good deal. If you're in the market for a car or recently bought a car, let me know in the comments on how that experience has been. Well, all right guys, that's the rundown for today. Hope you guys enjoyed today's episode. If you did and you have like five extra seconds, consider giving us a five star rating on Apple, Spotify, YouTube, YouTube, wherever you listen to your podcast. And if you are listening on Spotify, don't forget to vote in today's Spotify poll. Leave us a comment on Spotify. All that engagement really does help us out and it helps other people find the show. Thank you guys so much for listening, watching and commenting. Shout out to Mike and Connor for all the work behind the scenes and we'll see you guys back here tomorrow.