Wall Street Breakfast Oil gains after war talk
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Apr 2, 2026 Oil futures spike after threats of stronger strikes on Iran. A retailer seeks rescue financing amid weak sales and inventory charges. A warehouse club raises its annual membership fee, undercutting one rival but trailing another. Market movers include chip startup deal rumors, potential tariffs on drugmakers, and heavily shorted stocks.
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Oil Jumps After Threatened Iran Escalation
- Oil prices jumped sharply after President Trump warned the U.S. would strike Iran "extremely hard" over the next two to three weeks.
- Crude futures rose about 7% to $107 and Brent climbed 7.3% to $108 as escalation risk reversed prior de-escalation hopes.
Trump Says Campaign Has Degraded Iran While Leaving Diplomacy Open
- Trump framed U.S. actions as largely successful, saying military efforts had degraded Iran's forces and infrastructure while weakening proxies.
- He also signaled possible intensified strikes in coming weeks but kept diplomacy on the table, increasing market uncertainty.
Sleep Number Seeks Rescue Financing
- Sleep Number shares plunged 21% premarket after the company sought rescue financing to avoid bankruptcy.
- The firm warned about going-concern doubt, citing high debt, weak sales, covenant risks and a 71% one-month share drop.