Top Stories — Tuesday, April 7, 2026
What is trending in the USA today? Here is Breaking News:
- Samsung shares rise nearly 5% as profit seen jumping 8-fold on AI chip boom — CNBC
- Oil prices rise as Trump reaffirms Tuesday deadline for bombarding Iran's power plants, bridges — CNBC
- Toyota recalls 73K hybrid vehicles over pedestrian warning sound issue — Fox Business
Samsung shares rise nearly 5% as profit seen jumping 8-fold on AI chip boom
Source: CNBC • Published: 4/7/2026, 8:05:32 AM
Shares of Samsung Electronics rose as much as 4.8% on Tuesday after the South Korean technology giant forecast record quarterly profit amid strong demand for artificial intelligence chips. Shares later pared gains to trade up 0.52%.
In its preliminary earnings guidance, Samsung projected its operating profit for the January-March quarter to reach 57.2 trillion won ($37.8 billion), up more than eightfold from just 6.69 trillion won a year ago.
That profit, if it comes to fruition, would represent a quarterly record — nearly three times the previous high — and would exceed estimates of 42.3 trillion won from LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate.
Meanwhile, the company's estimated consolidated revenue was projected to surge nearly 70% from a year ago to 133 trillion Korean won.
Samsung's upbeat guidance was likely driven by its memory chip business, particularly demand for high-bandwidth memory chips used in AI computing.
Its Device Solutions division, which includes memory chips, accounted for 39% of Samsung's revenues and 57% of its operating profits in 2025.
Demand for high-bandwidth memory chips has become so explosive over the past year that it has triggered shortages across the memory market, driving massive price and volume spikes for memory makers like Samsung.
The results also reflect that Samsung has been strengthening its position in high-bandwidth memory chips after giving up an early lead to its South Korean rival SK Hynix.
The company is expected to report full earnings later this month.
Oil prices rise as Trump reaffirms Tuesday deadline for bombarding Iran's power plants, bridges
Source: CNBC • Published: 4/7/2026, 7:14:20 AM
Oil prices edged higher after U.S. President Donald Trump doubled down on his threats to attack Iran's civil infrastructure, warning that the nation will be "taken out in one night," if the Islamic Republic's leadership failed to reopen the Strait of Hormuz.
U.S. West Texas Intermediate crude futures for May were up 0.93% at $113.46 per barrel as of 8:45 p.m. ET. Brent crude for June delivery gained about 0.54% to $110.36 per barrel.
On Monday, Trump repeated his threat that the U.S. will destroy Iran's power plants and bridges if Tehran did not reopen the Strait of Hormuz by 8 p.m. ET on Tuesday, while also signaling that Iranian leadership was negotiating in earnest.
The closure of the narrow waterway connecting the Persian Gulf and Gulf of Oman has led to a supply shock, sending prices for crude, jet fuel, diesel, and gasoline soaring since the war broke out on Feb. 28.
"They have 'til tomorrow," the president said. "Now we'll see what happens. I can tell you, they are negotiating, we think in good faith, we're going to find out. We're getting the help of some incredible countries that want this to be ended, because it affects them also."
Reuters reported that the U.S. and Iran were discussing a framework plan to end their 5-week-old conflict, as Tehran has pushed back against Trump's pressure to swiftly reopen the Strait of Hormuz, which would allow traffic to start flowing again through the vital energy artery.
Iran has rejected the U.S. ceasefire proposal, presenting its own 10-point plan, according to Axios, including a permanent end to hostilities in the region, rather than a temporary ceasefire, a protocol for safe passage through the Strait of Hormuz, lifting of sanctions, and reconstruction.
But the changes for a ceasefire deal to be reached before the deadline remained slim, according to the report.
Trump responded to the proposal, saying that "They made a ... significant proposal. Not good enough, but they have made a very significant step. We will see what happens."
"As the deadline approaches, [Trump] wants to apply even more pressure to get them across the finish line," Brain Jacobsen, chief economic strategist at Annex Wealth Management.
Shipping through the Strait of Hormuz is slowly resuming, with 8 tankers transiting Monday, up from the average of fewer than 2 transits per day in March, according to S&P Global Market Intelligence. That, however, is a fraction of the pre-war levels with an average of 20 million barrels of crude oil and products transiting per day via the strait in 2025.
Toyota recalls 73K hybrid vehicles over pedestrian warning sound issue
Source: Fox Business • Published: 4/7/2026, 6:56:39 AM
Toyota is recalling more than 73,000 hybrid vehicles over a pedestrian warning sound issue, according to the National Highway Traffic Safety Administration (NHTSA).
Certain 2023–2025 Toyota Corolla Cross Hybrid vehicles are affected by the recall effort because they do not make a loud enough sound while in reverse, making it harder for pedestrians to hear and increasing the risk of injury.
"The vehicles may fail to make sufficient pedestrian warning sounds when in reverse," the NTSB said in its announcement.
Toyota is recalling more than 73,000 hybrid vehicles over a pedestrian warning sound issue. (Getty Images / Getty Images)
"As such, these vehicles fail to comply with the requirements of Federal Motor Vehicle Safety Standard (FMVSS) number 141, 'Minimum Sound Requirements for Hybrid and Electric Vehicles,'" the agency continued.
A total of 73,528 vehicles are affected by the recall, although only about 1% of them are likely to have the defect.
About 73,528 Toyota Corolla Cross Hybrid vehicles are affected by the recall. (BAY ISMOYO/AFP via Getty Images / Getty Images)
The recall numbers are 26TB08 and 26TA08.
Toyota dealers will update the software on the affected vehicles free of charge to fix the pedestrian warning sounds.
Toyota dealers will update the software on the affected vehicles free of charge to fix the pedestrian warning sounds. (Smith Collection/Gado/Getty Images / Getty Images)
Owner notification letters alerting consumers of the safety risks are expected to be mailed out by May 30, 2026.
Read the full story at Fox Business.
For complete details, visit the original sources linked above.
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