Public Markets 3d Briefing
×Market Performance & Indices
The S&P 500 wsj.com futures dipped as oil headed for its biggest weekly gain since early in the Ukraine war. European shares headed for their steepest weekly decline bloomberg.com since April as the Iran war showed no sign of nearing a resolution. Large-cap consumer discretionary companies posted their weakest earnings season in almost six years, as high fixed costs, softer demand and still-elevated prices weighed on results. US stocks have flipped the script bloomberg.com for international investors since war erupted in the Mideast, handily outpacing the rest of the world after trailing their global peers badly last month.
Energy & Commodities
US gasoline pump prices advanced to the highest level at any time under President Donald Trump, with the conflict in the Middle East disrupting energy supplies. The US-sanctioned tanker blacklisted for handling Iranian liquefied petroleum gas crossed the Strait of Hormuz on Friday, one of only a handful of vessels to make it through the waterway in recent days. London-based reinsurers of ships are canceling their coverage of war risk and demanding 200% more to reinstate policies, according to people familiar with the matter, after a US submarine sank an Iran vessel. Oil prices surged wsj.com and stocks fell on the widening Iran war, with American oil benchmark posting its biggest gain since 2020.
Corporate News & Earnings
Universal Music shares fell on weak margins and guidance concerns. Zealand Pharma shares sank 32% after an obesity drug trial missed expectations. Embraer reported fourth-quarter revenue of 14.3 billion reais ($2.7 and adjusted earnings before interest, taxes, depreciation and amortization of 1.6 billion reais, beating analyst estimates. Lanxess shares slumped investing.com after Advent declined to buy its stake in Envalior JV, raising concerns it could lose its investment-grade credit rating. BESI shares tumbled 13% after a report flagged threats to hybrid bonding demand.
Banking & Financial Services
Goldman Sachs Chair and CEO David Solomon said he's been surprised by the "benign" reaction in financial markets to the Middle East conflict, adding that it will take weeks to understand more about the implications. Credit investors are swiftly unwinding bloomberg.com long positions worth tens of billions of dollars and jumping into hedging trades. Goldman Sachs says stocks may suffer bloomberg.com a correction, but "nothing systemic." JPMorgan Head of Asia Economics and Chief India Economist Sajjid Chinoy says the conflict in Iran represents a "modest macro-economic shock" that's unlikely to derail global expansion.
Technology & AI
Big Tech stocks were expensive bloomberg.com, but that's changing as AI euphoria gives way to skepticism. The AI sell-off is "unfairly penalizing" Industrial Software, according to analysts. Nvidia's February earnings report finance.yahoo.com just proved why it will be the best-performing "Magnificent Seven" stock in 2026. Biotech group's shares hit ft.com by a weight-loss drug setback, with Zealand Pharma falling 32% following mid-stage trial results for a treatment being developed with Roche.
Geopolitical Developments
Russia is the first clear winner bloomberg.com from the war in Iran, with Indian refiners snapping up Moscow's barrels after Middle East flows have bottled up in the Persian Gulf. Iran operatives made indirect contact bloomberg.com with the US the day after attacks began to negotiate an end to the conflict, according to a report in the New York Times. Trump says he must be involved investing.com in selecting Iran's next leader. Missile interceptor shortage worries bloomberg.com flare in world capitals as drones and missiles target cities and critical infrastructure in Ukraine and the Gulf.
Shipping & Trade
Maersk and Hapag-Lloyd temporarily halted key shipping lanes amid the Iran conflict, with the container shipping groups halting navigation of key routes into and out of the region as the fallout from the war continues to disrupt trade flows. Maritime and ports businesses are pushing ft.com for a global shipping climate deal, with almost 90 international groups backing "certainty" on carbon levy opposed by the US. The Panama Canal is reporting bloomberg.com an unexpected jump in revenue, confounding its own forecasts that Donald Trump's trade wars would cause traffic to drop.
Regional Markets
European stocks were set to resume declines as the dollar strengthened. The euro-area economy expanded less bloomberg.com than initially reported at the end of last year, with trade weighing on growth. UK construction activity unexpectedly declined bloomberg.com at a sharper pace in February, according to a closely watched survey, with housebuilding particularly weak. China will root out wasteful spending bloomberg.com and strive to boost government revenue, Finance Minister Lan Fo'an said on Friday, sending a strong message of frugality soon after unveiling a more modest fiscal plan.
Market Analysis & Strategy
Bof A's Hartnett flagged asset winners and losers from a prolonged Iran war. JPMorgan says the Iran war represents bloomberg.com a "modest macro-economic shock." BofA sees moderate UK consumption growth investing.com in 2026 amid rising risks. Markets face a 10% correction, up to 15% if the Hormuz blockade holds, according to Yardeni. Markets' bar for bad news is quite high bloomberg.com, says Citi's Kaiser, who examines how equity markets have fared during the first days of the war with Iran.
Corporate Developments
Victory Capital Chair and CEO Dave Brown discusses the firm's ongoing efforts to acquire Janus Henderson despite the asset manager's existing agreement to be bought by Nelson Peltz's Trian Fund Management. DHL shares rose investing.com after Barclays upgraded to "overweight" and raised the price target by 26%. Shurgard was upgraded investing.com by Deutsche Bank on valuation discount. Keller Group was downgraded investing.com by Deutsche Bank on valuation. Aroundtown cut its 2026 outlook investing.com as debt costs bite, with shares falling 3%.