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Stock Market News, April 17, 2026: Dow Jumped, Oil Tumbled After Iran Declared Strait Open WSJS&P 500 notches first close above 7,100, Nasdaq posts longest win streak since 1992: Live updates CNBCStrait Up — Heard on the Street Friday Recap WSJStocks Extend ‘Astonishing' Rally as Middle East Tensions Ease Further The New York Times
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Wall St Week Ahead Surging record-high US stocks to wade deeper into earnings season ReutersStocks Extend ‘Astonishing' Rally as Middle East Tensions Ease Further The New York TimesS&P 500 notches first close above 7,100, Nasdaq posts longest win streak since 1992: Live updates CNBCStock Market News, April 17, 2026: Dow Jumped, Oil Tumbled After Iran Declared Strait Open WSJ
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Trump Extends Sanctions Exemption on Some Russian Oil as High Gas Prices Persist The New York TimesUS renews Russian oil waiver after pressure from countries dealing with Iran war price shocks ReutersU.S. launches ‘Operation Economic Fury' to obstruct Iran's revenue streams amid blockade DefenseScoopMiddle East war as it happened: US extends waiver allowing countries to buy Russian oil Financial TimesUS extends waiver
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After two years of shipping delays and rising delivery costs, relief is in sight. By the end of the year, a marked improvement will be seen compared with a year ago.
The numbers of new drivers and trucks have picked up, easing constraints, though chassis shortages will likely continue into 2023. Spot market rates for trucks, excluding fuel surcharges, have dropped 30% from their peak earlier this year. They should decline a bit more, ending 2023 about 5% above their prepandemic level, according to Avery Vise, Vice President of Trucking at FTR Transportation Intelligence. Contract rates are typically slower to respond, and should ease to 17% above their prepandemic level by the end of 2023. Also, diesel prices are still 65% above prepandemic, so fuel surcharges will continue to be higher than normal. However, if a recession happens next year, then both volumes and rates will tumble.
SEE MORE 5 Stocks Making the Most of Supply-Chain Issues
Congestion at East Coast ports should ease in the next few months as a new labor contract is likely to be signed for West Coast dockworkers, allowing more vessels to return to using West Coast ports. Ship traffic from Asia is easing as 70% of retailers shipped early this year ahead of the holiday season, after getting burned last year, according to Ken Hoexter, a managing director at Bank of America. Ocean freight rates from China to the West Coast have fallen to $3,900 per 40-foot container, though that is still $2,500 more than the prepandemic average.
Rail freight is the problem child, according to Todd Tranausky, vice president of rail & intermodal at FTR. Freight has been moving at slower than normal speeds this year because of crew staffing shortages. Prior to the pandemic, the railroads embarked on a cost-cutting and labor-saving spree, reducing the wor
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