KOSPI CLOSES AT RECORD, TOPS 7000 FOR FIRST TIME ON CHIP RALLY

TRUMP REFERS TO IRAN CONFLICT AS 'A LITTLE SKIRMISH'

- U.S. stock futures were higher on Tuesday, while oil prices slid as traders reacted to a number of solid earnings results. - Crude prices declined across the board, giving equity futures a boost. West Texas Intermediate crude futures dipped 2% to above $103 per barrel. Brent crude futures lost 1% to trade at above $112 a barrel. - While the ceasefire between the U.S. and Iran remains fragile amid fresh attacks in the Strait of Hormuz, Defense Secretary Pete Hegseth said Tuesday that “two U.S. commercial ships, along with American destroyers, have already safely transited the strait, showing the lane is clear.” - The U.S. reportedly said that it had sunk Iranian boats in the Strait of Hormuz. Admiral Brad Cooper, who leads U.S. Central Command, said on Monday afternoon that American forces had eliminated six small Iranian boats that were attempting to interfere with commercial shipping - The U.S. trade deficit widened in March on a monthly basis, but was 55% the same period a year ago, just before President Donald Trump’s tariffs kicked in. - Michael Burry dumped his entire stake in GameStop after the company’s audacious bid for eBay, saying the deal’s heavy leverage shattered the investment case he had been building. - Coinbase CEO Brian Armstrong said Tuesday that the company will cut roughly 14% of its workforce, citing a combination of market volatility and AI quickly changing how the company operates. - PayPal — Shares gained nearly 3% after PayPal reported first quarter earnings of $1.34 per share, on an adjusted basis, on revenues of $8.35 billion.