Overview
- Global stocks rallied Tuesday on hopes for a U.S.–Iran diplomatic restart.
- Oil prices fell back below $100 per barrel following Monday's surge tied to the announced U.S. blockade of Iranian ports.
- The blockade's real-world enforcement remained unclear after its declared start, while President Trump said 34 ships crossed the Strait of Hormuz on Sunday.
- Paris gained 1.12% even as LVMH reported first-quarter revenue down 6%, which had weighed on its shares earlier in the day.
- Amazon said it plans to buy satellite operator Globalstar for up to $90 a share, a move that boosted Globalstar’s stock as earnings season kicked off.