Public Markets 3h Briefing
×Market Turmoil
The S&P 500 bloomberg.com futures plunged 1.4% as the Iran war entered its fourth day, heightening fears of energy market disruption and inflation. European shares finance.yahoo.com slid to one-month lows, with the Stoxx 600 down 1.5% amid escalating Middle East tensions. Global diesel prices bloomberg.com surged to their highest since summer 2023 as the conflict threatens supplies, while the dollar headed for its biggest two-day rally in almost a year as inflation fears mounted.
Tech Sector Pressure
MongoDB investing.com shares tumbled after Baird downgraded the software company on Atlas growth concerns and AI revenue timing. Sea Limited investing.com shares also fell following a fourth-quarter earnings miss. Software stocks investing.com saw shorts at their highest levels since the GFC, according to Deutsche Bank, as investors grew cautious about the sector's valuation.
Earnings & Corporate Moves
Best Buy investing.com surged on an earnings beat, though the retailer forecast tepid growth as consumer demand slows. On Holding wsj.com shares underwhelmed investors despite climbing profit and sales, with its sales outlook for the current year disappointing the market. Target investing.com shares rose as the big-box retailer unveiled strong full-year guidance, contrasting with Auto Zone's fall after its FQ2 revenue missed forecasts.
Energy & Commodities
Shell bloomberg.com committed to inject 3.5 billion reais ($666 in Brazilian ethanol producer Raízen SA, a joint venture with Cosan SA. Saudi Aramco bloomberg.com is exploring oil exports via the Red Sea to avoid the Strait of Hormuz as the conflict disrupts traditional shipping routes. European natural gas bloomberg.com jumped more than 40% to a three-year high amid the shutdown at Qatar's largest LNG export plant.
Policy & Macro
UK bloomberg.com slashed bond sales to a three-year low, reflecting improved government finances. The Czech central bank bloomberg.com reported robust growth after a stronger-than-expected expansion last year. Fed official Bowman bloomberg.com said regulators should weigh how liquidity rules affect lenders during volatility and address framework weaknesses.
Deal Activity
Ziff Davis wsj.com struck a deal to sell its connectivity division to Accenture for $1.2 billion in cash. Medline's PE backers bloomberg.com began a stake sale worth $3.4 billion, capitalizing on a rally in the medical supplier's stock since its debut. Pinterest investing.com shares jumped 10% after Elliott Management invested $1 billion and announced a buyback plan.
Defense & AI
Palantir bloomberg.com is back on Wall Street's buy list after a 38% plunge, with enthusiasm returning for the company's defense business potential. The OpenAI $110 billion funding round investing.com raises questions about software sector implications as the AI race intensifies. AeroVironment investing.com shares bounced 6.5% on Space Force contract talks.