Reuters Morning Bid Markets space out
Apr 2, 2026
Markets wobble after an Iran war address that raised more questions than answers. Discussion covers oil infrastructure damage and how energy outages could ripple through economies. Investors brace for U.S. jobs data that might reveal hidden shocks. Farther afield, NASA returns to the Moon and SpaceX’s mega IPO plans spark debate about valuations and satellite competition.
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Trump Speech Offers Timeline Not Details
- President Trump's primetime Iran speech offered no new policy changes and left markets searching for clarity.
- Mike Dolan and Peter Devlin noted the speech mostly reiterated recent comments and set a two to three week timeline without details, creating market uncertainty.
Severe Oil Damage But Economy Shows Early Resilience
- Energy markets show severe infrastructure damage but early economic indicators don't yet reflect a full shock.
- Mike Dolan cited the IEA saying oil infrastructure damage exceeds 1970s plus Ukraine, while early data hint at resilience.
Jobs Data Could Lag Energy Shock
- Labor market data for March may lag any economic hit from the conflict, so jobs numbers are a key near-term risk.
- Peter Devlin and Mike Dolan referenced ADP and ISM readings showing modest shifts, warning employment effects can appear with delay.