US Pre-Market: US-Iran Standoff Weighs on Market Sentiment, Oil Surges as Safe-Haven Assets Retreat, Trump Executive Order Boosts Healthcare Against Trend

Market Movements

US-Iran Tensions: US Stock Index Futures Retreat Across the Board

TradingKey - Ahead of Monday's US market open, safe-haven sentiment has risen significantly due to escalating US-Iran conflicts. The VIX, which reflects the degree of market fear, rose nearly 3%, dragging down futures for the three major US indices collectively. As of press time, Nasdaq 100 futures fell 0.52% to 26,535 points; S&P 500 futures dropped 0.56% to 7,086 points; and Dow Jones Industrial Average futures slipped 0.53% to 49,186 points.

Trump Signs Executive Order: Psychedelic Medicine Sector Surges Collectively

Boosted by a new executive order signed by US President Trump, the psychedelic drug R&D sector became the strongest area in pre-market trading, with Compass Pathways ( CMPS) soaring more than 25%, while Atai ( ATAI ), GH Research ( GHRS ), Beckley, and Definium Therapeutics all saw gains ranging between 14% and 18%. The order aims to accelerate research into related drugs and expand patient access for the treatment of post-traumatic stress disorder (PTSD) and severe mental illnesses.

American Airlines Rejects Merger with United; Shares Drop Over 3%

American Airlines ( AAL) saw its pre-market shares slide 3.52% to $12.33. Regarding United Airlines' merger proposal, American Airlines explicitly stated its rejection, believing the move would negatively impact market competition and consumer interests. The company also noted that the transaction contradicts its interpretation of the current Trump administration's antitrust enforcement policies.

American Airlines stock price chart, Source: TradingView

Partnering with Google to Develop AI Chips: Marvell Technology Surges Pre-market

Marvell Technology ( MRVL) rose 6.3% in pre-market trading, with its share price briefly surpassing the $150 mark. It is reported that Google ( GOOG) is in talks with the company to develop two new AI-optimized chips, with both parties aiming to complete memory chip designs and initiate trial production as early as next year.

Ceasefire Agreement Near Expiry: Crude Oil Surges While Safe-Haven Assets Retrace

With the ceasefire agreement set to expire on April 20 and the second round of negotiations still pending, crude oil prices have surged, with WTI crude ( USOIL) jumping nearly 8%. Safe-haven capital flows showed divergence: spot gold ( XAUUSD) fell below $4,800/oz, and silver ( XAGUSD) also dropped below the $80 mark; Bitcoin ( BTC) failed in its attempt to challenge the $78,000 mark and is currently retracing to fluctuate around the $75,000 level.

WTI crude oil price chart, Source: TradingView

Market Headlines

US-Iran Peace Talk Prospects Stalled as Ceasefire Expiry Nears

As the two-week ceasefire agreement is set to expire on April 22, the situation in the Middle East faces another critical turning point. US President Donald Trump stated that a US envoy has arrived in Pakistan to initiate a new round of peace talks with Iran. However, according to Iranian state media IRNA, the Iranian government has refused to participate in the second round of dialogue, citing Washington's shifting stance and "excessive demands."

European Q1 Electric Car Sales Surpass 500,000 Units

Driven by volatile gasoline prices resulting from the US-Iran conflict, European consumers are accelerating their shift toward alternatives to internal combustion engines. According to data released Monday by the European Electric Vehicle Association and New Automotive, battery electric vehicle (BEV) registrations in 15 major European markets grew 29.4% year-over-year in the first quarter, totaling nearly 560,000 units. March registrations alone exceeded 240,000 units, a 51.3% year-over-year surge, indicating that fuel price pressure has become a primary catalyst for the EV market.

BIS Warns of Stablecoin Risks, Calls for Global Regulatory Coordination

Bank for International Settlements (BIS) General Manager Pablo Hernandez de Cos emphasized the urgency of global regulatory cooperation during a speech in Japan. He warned that a lack of unified oversight for stablecoins could lead to severe market fragmentation and regulatory arbitrage, potentially undermining monetary and fiscal policies, triggering financial stress, and hindering efforts to combat illicit finance. He stressed that global coordination is essential to mitigating these risks.

Polymarket Funding Success Expected to Lift Valuation to $15 Billion

According to a report by The Information, leading prediction market platform Polymarket is in talks with investors for a new $400 million funding round, which is expected to push the platform's valuation to approximately $15 billion.

Hong Kong SFC to Allow Licensed Platforms to Trade Tokenized Funds

Eric Yip, Executive Director of Intermediaries at the Hong Kong Securities and Futures Commission (SFC), announced at the Web3 Festival that Hong Kong will officially permit licensed virtual asset platforms to offer and trade "SFC-authorized tokenized funds." The pilot program will begin with money market funds and gradually expand to all authorized funds based on experience.

Key Data/Events Preview

Canada March CPI (MoM)

German Chancellor Merz and ECB President Lagarde to deliver speeches

Trump says U.S. delegation will arrive in Islamabad on the evening of the 20th for negotiations