⚡ TODAY'S TOP STORY
A second round of U.S.-Iran negotiations is under discussion, with Trump telling the New York Post talks "could be happening over next two days" in Islamabad. Markets responded — the S&P 500 gained 1.18% on Tuesday, closing at 6,967, now less than 1% below its all-time high of 7,002.
Oil prices actually fell Tuesday as the IEA forecast that demand destruction will spread amid supply scarcity, and Bloomberg reported Trump may be preparing to wind down the conflict — boosting optimism that a deal is still possible.
The backdrop is still tense. Citadel CEO Ken Griffin warned that if the Strait of Hormuz stays shut for 6-12 months, a global recession is unavoidable. But for now, Wall Street is pricing in resolution, not escalation.
☕ What to do about it
Don't let the rally make you complacent. If you've been holding extra cash waiting for clarity, this is a reasonable moment to dollar-cost-average back into index positions — but keep 3-6 months of expenses liquid. The geopolitical picture can flip overnight.
🔍 QUICK HITS
The IRS reminds taxpayers there's still time to file electronically and request direct deposit for refunds. An extension gives you until October 15 to file, but you still owe any taxes due today. Use the new Schedule 1-A to claim deductions for tips (up to $25K), overtime, car loan interest, and the senior deduction — you can claim these even with the standard deduction.
The 30-year fixed averaged 6.37% as of April 9, down from 6.46% the week before and 6.62% a year ago. The 15-year fixed fell to 5.74%. MBA data released this morning shows the rate ticking further to 6.42% with mortgage applications rising. If you've been rate-watching, the trend is your friend right now.
Bank of America, Morgan Stanley, and PNC Financial report Q1 results before the bell this morning. ASML already posted strong results — Q1 net sales of €8.8 billion with a 53% gross margin, and raised full-year guidance to €36-40 billion, driven by AI-related chip demand. Watch BAC and MS for signals on consumer lending strength and capital markets activity.
💡 TODAY'S MONEY MOVE
It's Tax Day — Do These 3 Things Before Midnight
If you haven't filed: Use IRS Free File at irs.gov. It's free for incomes up to $89,000. Check Schedule 1-A before submitting — the new deductions could save you thousands.
If you can't finish: File Form 4868 for an automatic extension to October 15. But pay your estimated amount owed today — the failure-to-file penalty is 10x the failure-to-pay penalty.
If you already filed: Make your Q1 2026 estimated tax payment if you're self-employed or have investment income. This is also due today.
📊 ONE NUMBER
43%
of Americans can't cover a $1,000 emergency expense from savings, according to a 2026 U.S. News survey. The median emergency fund balance has dropped by half from last year. If your tax refund hits this month, consider routing it straight to a high-yield savings account before it disappears into spending.
☕ Know someone who needs this? Share Brew Your Freedom →