Markets 3h

Public Markets

Market Turmoil

The S&P 500 futures plunged 1.4% as the Iran war entered its fourth day, heightening fears of energy market disruption and inflation. European shares slid to one-month lows, with the Stoxx 600 down 1.5% amid escalating Middle East tensions. Global diesel prices 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 shares tumbled after Baird downgraded the software company on Atlas growth concerns and AI revenue timing. Sea Limited shares also fell following a fourth-quarter earnings miss. Software stocks 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 surged on an earnings beat, though the retailer forecast tepid growth as consumer demand slows. On Holding shares underwhelmed investors despite climbing profit and sales, with its sales outlook for the current year disappointing the market. Target 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 committed to inject 3.5 billion reais ($666 in Brazilian ethanol producer Raízen SA, a joint venture with Cosan SA. Saudi Aramco is exploring oil exports via the Red Sea to avoid the Strait of Hormuz as the conflict disrupts traditional shipping routes. European natural gas jumped more than 40% to a three-year high amid the shutdown at Qatar's largest LNG export plant.

Policy & Macro

UK slashed bond sales to a three-year low, reflecting improved government finances. The Czech central bank reported robust growth after a stronger-than-expected expansion last year. Fed official Bowman said regulators should weigh how liquidity rules affect lenders during volatility and address framework weaknesses.

Deal Activity

Ziff Davis struck a deal to sell its connectivity division to Accenture for $1.2 billion in cash. Medline's PE backers began a stake sale worth $3.4 billion, capitalizing on a rally in the medical supplier's stock since its debut. Pinterest shares jumped 10% after Elliott Management invested $1 billion and announced a buyback plan.

Defense & AI

Palantir 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 raises questions about software sector implications as the AI race intensifies. AeroVironment shares bounced 6.5% on Space Force contract talks.

Private Equity

Deals & Exits

EBRD exited Romanian retailer La Cocos to Schwarz Group alongside Morphosis Capital and CEECAT. American Securities agreed to sell manufacturers CPM Holdings and MW Components to Rosebank Industries. Thoma Bravo is acquiring logistics firm WWEX Group from sellers including CVC Capital Partners and Providence Equity Partners. Esperion, backed by private equity, will acquire biopharma firm Corstasis for $75 million upfront with

Sector Investment

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