April 10th Overnight News Summary

1. Trump said he is "very optimistic" about reaching an agreement with Iran, but later threatened Tehran over the issue of passage fees in the Strait of Hormuz. 2. Israeli Prime Minister Benjamin Netanyahu stated that he has agreed to hold direct talks with Lebanon. 3. Iran's Supreme Leader Ayatollah Khamenei issued a statement saying, "We will certainly take the management of the Strait of Hormuz to a new stage." 4. Saudi Arabian news agency cited an official from the energy department reporting that the Saudi East-West oil pipeline was attacked, leading to a reduction in daily transport capacity of about 700,000 barrels. 5. Crude oil rose in volatile trading, and the fragile ceasefire agreement between the US and Iran failed to alleviate concerns in the market about further disruptions in Middle Eastern supply, with shipping through the Strait of Hormuz still largely blocked. 6. As concerns about the disruptive impact of AI continue, software company stocks fell on Thursday. 7. Amazon CEO Andy Jassy stated on Thursday that the company is considering selling its chips to other businesses. He also mentioned that the annual revenue from the companys self-made chip business is expected to exceed $20 billion. 8. The Chief Financial Officer of Elon Musk's AI company xAI, Anthony Armstrong, has reportedly resigned, just about six months after taking office last October. 9. Helen Jewell of BlackRock stated that due to the inflation effects of the Middle East war, the market needs to lower its expectations for corporate earnings.