Stock Market Live April 7, 2026: S&P 500 (SPY) Goes Red as Ceasefire Hopes Fade

With ceasefire hopes fading, oil is up $3.45 at $115.85.

And the major indices are deep in the red. The S&P 500 is down 0.47%, or by 31 points. The SPDR S&P 500 ETF (SPY) is down 0.58%, or by $3.85. The Dow is down 0.45%, or by 211 points. The Nasdaq is down 0.65%, or by 157 points. Gold is down slightly at $4,654. Bitcoin is down another $694 at $68,166, as it continues to trade sideways.

All as the world waits to see what President Trump does with Iran at 8 pm EST.

“Tuesday will be Power Plant Day, and Bridge Day, all wrapped up in one, in Iran. There will be nothing like it!!!” President Trump wrote on Truth Social. “Open the Fn’ Strait, you crazy bastards, or you’ll be living in Hell — JUST WATCH.”

Iran has so far rejected the ceasefire.

$200 Oil is Possible

As for oil, $200 still isn’t out of the question, with the Strait of Hormuz shut off, and nations scrambling for supply. In fact, according to analysts at the Macquarie Group, “if the war lasts through June, oil prices would likely spike above $200 a barrel for a time,” as noted by CNN.

And while it would have a devastating impact on global economies, we can profit from it using stocks like Exxon Mobil (NYSE: XOM | XOM Price Prediction), Occidental Petroleum (NYSE: OXY), and Chevron (NYSE: CVX). Plus, as we noted here, we could use ETFs such as the SPDR Energy Select Sector ETF (XLE), SPDR S&P Oil & Gas Exploration & Production ETF (XOP), and the iShares Global Energy ETF (IXC).

Market Movers: Wingstop upgraded to a buy 

Analysts at Citi just upgraded Wingstop (NASDAQ: WING) to a buy, but did lower its price target to $230 from $286. While the firm doesn’t see an immediate solution for same-store sales issues, the company is starting to see an increase in guest conversions and brand awareness.

“New store returns remain near best-in-class (70%+ in ’25) and franchisee profitability remains healthy, supporting the idea that franchisee appetite for new stores … remains high despite the recent [same-store sales] pull-back,” added the firm, as quoted by CNBC.

And, according to UBS, it’s time to invest in Morgan Stanley (NYSE: MS). UBS upgraded MS to a buy with a price target of $196. “Given the recent barrage of headlines hitting the market and bank stocks (Iran conflict, private credit, AI disruption), we think it’s an opportunity for investors to add quality stocks in their portfolios,” added the firm, as quoted by CNBC.