Amazon Acquires Globalstar to Challenge Starlink, Big Banks Kick Off Earnings Season

April 14, 2026

AI Summary

5 min read

On Tuesday, April 14th, stocks continued their hot streak, with the S&P 500 climbing to its highest level since late February and the Nasdaq notching its ninth straight winning day—the longest such run since 2023. The rally came despite a rocky start to the week after peace talks fell apart in Pakistan and President Trump ordered the Navy to block Iranian ships from the Strait of Hormuz. Those fears receded later in the day on reports that the U.S. and Iran would hold another round of talks, sending oil back below $100 a barrel. As one host put it, "it feels like the market just doesn't care about the war anymore," with the S&P now less than 2% from all-time highs.

Wholesale Inflation Comes in Cool

The March Producer Price Index (PPI) report, measuring wholesale inflation, came in at just 0.05% month-over-month—far below the 1% economists had expected due to rising energy costs. While gasoline at the wholesale level surged 16%, diesel jumped 42%, and jet fuel rose 30%, prices outside of energy were essentially flat. The takeaway: the war has driven up fuel bills but has not yet bled into the broader economy. The big question moving forward is whether that will hold, but for now, the market appears ready to shift focus from geopolitical drama to corporate earnings season.

Big Banks Thrive on Volatility

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What you'll learn

1 (00:36) **Market Rally Continues on Iran Deal Hopes** - S&P 500 nears all-time highs, Nasdaq extends winning streak to nine days after a volatile session driven by geopolitical headlines.
2 (01:50) **March PPI Comes in Cooler Than Expected** - Wholesale inflation rose just 0.5% month-over-month versus the 1.0% forecast, easing fears of broad contagion from energy spikes.
3 (02:48) **JPMorgan Beats on Record Trading Revenue, But Lowers Guidance** - The world's largest bank posted better-than-expected Q1 profits, but CEO Jamie Dimon warned of "increasingly complex" economic risks.
4 (03:55) **Wells Fargo Misses Estimates on Lending and Fee Revenue** - The bank's smaller trading desk couldn't offset weakness in its core lending business, sending shares down 6%.
5 (04:14) **Citigroup Posts Best Quarterly Revenue in a Decade** - CEO Jane Fraser declares the bank's turnaround is in its "final phase," and shares are the only big bank stock up this morning.
6 (04:42) **Amazon Acquires Globalstar for $11 Billion to Boost Satellite Internet** - The deal is a clear effort to catch up to Starlink in the race for space-based broadband.
7 (06:25) **Novo Nordisk Partners with OpenAI for Drug Discovery** - Shares rise 3% as the pharma giant adds AI capabilities to accelerate its pipeline.

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Show Notes

Market update for April 14, 2026.

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In today’s episode:

March PPI comes in way below expectations, wholesale prices up just 0.5% vs. 1.1% forecast
Big banks kick off earnings season: JPMorgan, Citi, and Wells Fargo report
Amazon acquires Globalstar to take on Starlink in the space internet race
Novo Nordisk partners with OpenAI to accelerate drug discovery
CarMax stock drops after another weak quarter
Meta expected to pass Google as the world's largest digital advertising company