Iran Latest: Trump Backtracks & Extends Tehran Truce, Talks in Limbo | The Opening Trade 4/22/2026

Watch on YouTube ↗  |  April 22, 2026 at 10:36  |  1:35:48  |  Bloomberg Markets
Speakers
Guy Johnson — Anchor, Bloomberg
Tom Mackenzie — Anchor, Bloomberg
Paul Dobson — Executive Editor, Bloomberg

Summary

The video analyzes market reactions to President Trump's indefinite extension of the Iran ceasefire, while the Strait of Hormuz remains closed. Discussions focus on the inflationary impact of elevated oil prices, corporate earnings pressures in sectors like airlines and chemicals, and the implications for central bank policy. Guests also provide insights on specific stocks and sectors, including chipmakers benefiting from AI demand and potential M&A activity.

  • President Trump extends Iran ceasefire indefinitely, but Strait of Hormuz remains closed.
  • Oil prices stay elevated, feeding into inflation and corporate cost pressures.
  • Airlines cut capacity and issue profit warnings due to soaring jet fuel costs.
  • Companies like AkzoNobel announce price increases to offset raw material inflation.
  • Kevin Warsh's Fed chair nomination faces hurdles amid political investigations.
  • Chip stocks like ASM International rally on strong AI-driven demand outlook.
  • Analysts debate whether memory chip stocks are in a supercycle or remain cyclical.
  • The UK reports stickier inflation, complicating the Bank of England's policy path.
Trade Ideas
Guy Johnson Anchor, Bloomberg 1:34
Oil prices to stay high with Strait closed.
Due to the prolonged uncertainty and risk premium from the Middle East conflict, energy prices will remain higher for longer, impacting inflation more in the resilient US economy than in weaker Europe.
WTI MED
Guy Johnson Anchor, Bloomberg 4:34
Airline stocks under pressure from fuel costs.
The airline industry faces higher fuel costs and capacity cuts, leading to fewer choices and higher ticket prices. Weaker airlines will suffer, potentially leading to consolidation, while low-cost carriers with good hedging may benefit.
JETS MED
Guy Johnson Anchor, Bloomberg 6:10
AkzoNobel can pass on cost increases.
AkzoNobel is raising prices to mitigate raw material cost inflation from the Middle East conflict, seeing good demand in Asia and Latin America while Europe and US are soft, and is ahead on cost efficiency plans.
AkzoNobel HIGH
Patrick 51:26
Overweight US equities, avoid Europe and Asia.
Remains overweight equities as earnings are delivering, driven by tech and energy. Favors the US for its resilience, is cautious on Europe and Asia due to Middle East impacts, and has added UK and Canada for compartmentalization. Prefers European duration over US duration.
VGK AAXJ HIGH
Patrick 51:26
Overweight US equities, avoid Europe and Asia.
Remains overweight equities as earnings are delivering, driven by tech and energy. Favors the US for its resilience, is cautious on Europe and Asia due to Middle East impacts, and has added UK and Canada for compartmentalization. Prefers European duration over US duration.
EWU VTI EWC HIGH
Patrick 57:32
Gold as hedge against dollar debasement.
Views gold not as a geopolitical hedge but as a potential hedge against dollar debasement, given questions around the debt market and system.
GOLD MED
Matt Bloxham Head of Research, The Block 62:15
ASM International boosted by AI chip demand.
ASM International is benefiting from strong demand for chipmaking equipment driven by AI adoption and data center buildout, leading to record highs and upgraded profit expectations.
ASM HIGH
Matt Bloxham Head of Research, The Block 65:26
Memory chip stocks remain cyclical, not supercycle.
Memory chip stocks remain cyclical; investors are cautious about believing in a supercycle despite strong AI demand, leading to a valuation disparity versus foundry players like TSMC.
SOXX MED
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This Bloomberg Markets video, published April 22, 2026, features Guy Johnson, Patrick, Matt Bloxham discussing WTI, JETS, AkzoNobel, VGK, AAXJ, EWU, VTI, EWC, GOLD, ASM, SOXX. 8 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Guy Johnson, Patrick, Matt Bloxham  · Tickers: WTI, JETS, AkzoNobel, VGK, AAXJ, EWU, VTI, EWC, GOLD, ASM, SOXX