5 Things to Watch on
April 14, 2026

Stock futures are modestly higher today after President Trump confirmed Iran had reached out for potential negotiations, with a cooler-than-expected PPI print adding to the constructive tone. Analysts note equities are beginning to price in de-escalation, though energy stocks are lagging as oil's risk premium unwinds, pointing to rotation rather than a broad rally. The optimism is tempered by a Harvard Kennedy School estimate that the Iran war will cost U.S. taxpayers at least $1T, driven by roughly $2B in daily combat costs, reconstruction of more than 20 damaged military installations, and long-term veterans' care for roughly 55K deployed troops, with the Strait of Hormuz blockade still in place as talks remain nascent.

Anthropic co-founder Jack Clark confirmed the company is in discussions with the Trump administration about its new Mythos AI model, saying "the government has to know about this stuff," even as a legal dispute with the Department of War over contract termination and blacklisting continues. Mythos, Anthropic's most capable model to date, has been made available in preview to roughly 50 companies; backers Amazon (AMZN) and Alphabet (GOOGL) have confirmed they will continue using Anthropic's technology outside defense work.

JPMorgan Chase (JPM) is down -0.9% in premarket trading after trimming its 2026 firmwide net interest income guidance to ~$103B from ~$104.5B, falling short of the ~$104.6B consensus. Q1 results still beat across the board: EPS of $5.94 topped the $5.51 estimate and revenue of $50.5B cleared the $48.9B consensus, with Commercial & Investment Banking revenue up +19% YoY and markets revenue surging +20%. CEO Jamie Dimon flagged geopolitical tensions, trade uncertainty, and elevated asset prices as key risks despite calling the U.S. consumer "remarkably resilient."

Nvidia (NVDA) denied a SemiAccurate report that it has been in negotiations for over a year to acquire a large PC maker, calling the claim "false" in a statement to Seeking Alpha. SemiAccurate, which said it had been tracking the story since late 2024, reported the deal would reshape the personal computer landscape. Shares of Dell Technologies (DELL) and HP Inc. (HPQ) had surged roughly +6% and +4% on the initial report, but reversed in today's premarket trading, with DELL down nearly -3% and HPQ dipping about -2%.

Novo Nordisk (NVO) is up +2.6% in premarket trading after the UK's MHRA approved a new single-dose 7.2mg version of Wegovy, the highest weekly semaglutide dose, for adult obesity patients with a BMI of 30 or above. The approval simplifies dosing by delivering the full weekly amount in a single injection. Rival Eli Lilly (LLY) competes in the same GLP-1 space spanning diabetes and weight-loss therapies.