Public Markets 8-Hour Briefing
×Market Overview
Defense stocks surged Monday as military attacks escalated across the Middle East. The S&P 500 rebounded slightly after an early drop. Investors are turning to gold as a safe haven. Oil prices spiked due to concerns about supply disruptions, with supertanker rates soaring to record highs.
Energy & Commodities
Oil producers are taking advantage of the price surge to lock in future revenue. US natural gas exporters stand to gain from the disruptions. Energy shares jumped alongside oil futures.
Geopolitical Impact
The escalating conflict is causing airlines to grapple with significant disruptions. JPMorgan Chase & Co. dialed back its bullish calls on emerging markets. Hedge funds are rethinking their emerging market bets. Municipal bonds are attracting investors as a haven.
Company News & Deals
LS Power is seeking to sell a stake in NRG Energy Inc. Ares Management is the lead buyer in a secondary sale. PayPay and SoftBank are seeking to raise $1.1 billion in a U.S. IPO. IAC agreed to sell Care.com.
Economic Outlook
Former Treasury Secretary Janet Yellen expects a hit to US economic growth and increased inflationary pressures. Canada's growth and inflation may be boosted by rising oil prices. JPMorgan's Dimon warns about inflation risks.
Sector Performance
The Breakwave Tanker Shipping ETF is soaring. Nvidia stock slipped on reports of export caps. Nvidia is also investing in photonics makers. Chevron and Exxon price targets were raised.
Other Financial News
Blackstone's private credit fund experienced redemptions. Michael Saylor is using common shares for Bitcoin purchases. Venezuela's crude exports doubled in February. Avenue Living Asset Management suspended redemptions at two real estate funds. Elliott amassed exposure to a collapsed mortgage provider.
Analyst Ratings
BTIG downgraded Fiverr. Barclays downgraded Blue Owl. Argus downgrades Pinterest.
Legal & Regulatory
A former compliance head refiled a lawsuit against Capula Investment Management. Federal court rejected delays on tariff refund cases.