Morning Business Report: ceasefire extended, markets react and consumer trends shift

The Donald Trump says the United States is extending the ceasefire deadline with Iran, citing uncertainty over leadership within the country.

(LILAMAX)- Trump also confirmed the U.S. Navy blockade of the Strait of Hormuz will remain in place as tensions continue.

Iranian state media, however, says there is no path forward for negotiations, calling talks a “waste of time” and describing the situation as a deadlock.

On Wall Street, stocks fell Tuesday as oil prices surged amid fears negotiations are breaking down. JD Vance has also scrapped a planned trip to Pakistan for peace talks.

In the business world, Steak ‘n Shake is aligning itself with Robert F. Kennedy Jr. and his “Make America Healthy Again” initiative.

The company announced a new role—Chief MAHA Officer—to focus on nutrition and ingredient transparency. Michael Boes, who helped develop the 2025–2030 Dietary Guidelines for Americans, will take on the position.

Economic data shows U.S. retail sales jumped 1.7% in March—the biggest gain in more than three years—according to the U.S. Department of Commerce. Analysts say the increase was largely driven by higher gas prices tied to the ongoing conflict.

Meanwhile, a new survey highlights how everyday life is being impacted at home.

Research conducted by Talker Research for Swiffer found Americans are losing an average of six hours a week to cleaning-related tasks. The survey also found many people are skipping social events or avoiding hosting guests due to the stress of maintaining their homes.