Top Shot – A rocket trail is seen over Netanya, Israel on April 8, 2026. The Israeli military issued two warnings in quick succession early Wednesday morning that Iran had fired missiles at the country, shortly after US President Donald Trump announced he had agreed to postpone attacks on Iranian infrastructure. (Photo by JACK GUEZ/AFP via Getty Images) /
Jack Ghez | AFP | Getty Images
Hello, my name is Leonie Kidd and I’m from London. Welcome to another edition of CNBC’s Daily Open.
This is the most significant development since the outbreak of the Iran war, and markets are reacting. News that a ceasefire has finally been reached between the US and Iran, with Israel’s support, caused a wave of relief across the stock market.
Although some wildcard factors remain, the truce is currently being viewed with optimism.
What you need to know today
“I agree to a two-week moratorium on bombing and attacks on Iran.” US President Donald Trump’s words in a post on Truth Social signaled the announcement of a ceasefire between the US and Iran. “We have received a 10-point proposal from Iran that we believe provides a viable basis for negotiations.”
The news sparked a rally of relief around the world, with Dow futures up more than 1,000 points in early trading, with stocks rising across Asia and with big gains expected in Europe.
Oil prices are plummeting, with Brent crude and WTI below $100 per barrel.
A statement issued by Iran’s foreign minister on behalf of the Supreme Council of National Security said that once attacks against Iran cease, Iran will cease defensive operations and allow safe passage through the Strait of Hormuz in coordination with its armed forces and “with full consideration of technical limitations.”
But on Wednesday, just hours after the ceasefire took effect, many Middle Eastern countries reported incoming missiles and drones from Iran, and air defenses were activated across the Gulf.
The Israeli military said early Wednesday that it had confirmed a ballistic missile attack from Iran and had issued an early warning for the central and northern parts of the country.
The United Arab Emirates said its air defense systems were intercepting missiles and drones and urged people to stay safe.
Saudi Arabia’s civil defense organization issued an early warning of “potential danger” across the country, including Riyadh. Kuwait, Bahrain and Qatar also issued alerts or put themselves on defense as threats emerged across the region.
Importantly, Israeli Prime Minister Benjamin Netanyahu said the two-week ceasefire does not apply to Lebanon. Lebanon’s economy minister told Access Middle East in an interview on CNBC that the ceasefire was “very good news” for the region, but that he wanted his country to join after being “forced into this war.”
— Leonie Kidd
