Dan Schwartzman

to use its bases in Europe to help attack Iran.

Leaving NATO, though, is not easy after a law was enacted back in 2023 that prevents a U.S.

president from suspending or terminating the NATO treaty unless the Senate agrees by a two-thirds majority or Congress passes a new law.

Fed minutes were released from the March meetings.

Bloomberg's international economics and policy correspondent Mike McKee gives us more details.

That's Bloomberg's Mike McKee.

We check markets all day long here at Bloomberg.

A major rebound day on Wall Street as the Dow gained over 1,300 points or close to 2.9%.

The S&P 500 gained over 160 points or 2.5%, while the Nasdaq jumped by over 600 points or 2.8%.

The 10-year Treasury yield is at 4.286%.

The two-year yield is at 3.787%.

ExxonMobil says it's lost 6% of its global production in the first quarter due to the Iran war.

The company said two liquefied natural gas production lines at a facility in Qatar were damaged by Iranian missile strikes and the damage will take a prolonged period to repair.

Exxon now expects first quarter earnings from its energy products division to be lower.

Brent fell as much as 17% before trading near $95 a barrel, while European natural gas futures posted their biggest decline in more than two years, shedding as much as 20%.

West Texas Intermediate also falling around 16%, around $95 a barrel.

Delta Airlines expects to incur more than $2 billion in higher fuel costs through June because of the Iran war.

Chief Executive Officer Ed Bastian telling reporters that the airline expects to raise fares more than what has already been levied.

With the U.S.

and Iran agreeing to that ceasefire, airline shares globally surging, with Delta shares rising over 7%, United Airlines seeing a rise of about 11%, while American Airlines rose about 8%.