Trending Market News

The U.S. is not planning to sell oil from its Strategic Petroleum Reserve following recent U.S. and Israeli attacks on Iran, according to a U.S. source who stated that oil markets remain well-supplied. The SPR currently holds more than 415 million barrels of crude oil stored on the Louisiana and Texas coasts.

• A U.S. source confirmed that selling oil from the SPR is 'not currently being discussed' despite the recent military actions against Iran
• The SPR currently contains over 415 million barrels, down from previous levels after President Biden ordered the largest-ever sale of 180 million barrels over six months following Russia's 2022 invasion of Ukraine
• Both the Biden and Trump administrations have been limited in refilling the reserve, as President Trump requires Congressional approval for funding to purchase crude oil

Brazilian state-run oil company Petrobras is monitoring the Iran conflict and global oil price surge before making fuel pricing decisions. Brent crude jumped as much as 13% on Monday after Iran's retaliatory attacks disrupted shipping through the Strait of Hormuz, following strikes that killed Iran's supreme leader. Petrobras will observe oil prices for the next week before deciding on potential fuel price adjustments.

• The Strait of Hormuz, through which 20% of global oil flows, faces potential closure after vessels stopped moving and were targeted during the conflict escalation
• Petrobras must balance multiple factors including oil prices, exchange rates, and potential capital flight from the U.S. that could strengthen Brazil's currency and offset higher crude costs
• The company maintains alternative supply routes outside the conflict zone and imports most crude from regions outside the Middle East crisis area, preserving operational flexibility

Pfizer CEO Albert Bourla publicly criticized the leadership of the FDA's vaccine department on March 2, stating that the current director is not following staff recommendations. The comments were made at the TD Cowen healthcare conference, marking a rare public rebuke of federal regulatory leadership by a major pharmaceutical executive.

• Bourla specifically accused the FDA vaccine department director of ignoring internal staff recommendations
• The criticism comes from the CEO of one of the world's largest vaccine manufacturers, potentially signaling tensions between industry and regulatory oversight
• Public criticism of FDA leadership by pharmaceutical executives is uncommon and could impact future regulatory relationships

T-Mobile filed a countersuit against Verizon Wireless in Manhattan federal court, alleging false advertising and 'bait-and-switch' tactics in Verizon's campaign promising better deals to switchers. This follows Verizon's own lawsuit filed February 4 challenging T-Mobile's ads that promised consumers over $1,000 in annual savings. Both lawsuits seek to halt the challenged advertisements, triple damages under the Lanham Act, and damages for unfair competition.

• T-Mobile claims Verizon's 'Better Deal' campaign falsely promises lower prices for comparable service plans and uses the bait to upsell customers on more expensive products
• Verizon's original lawsuit accused T-Mobile of comparing promotional rates with Verizon's standard rates and inflating service values
• The two carriers are close rivals with Verizon holding 146.9 million subscribers and T-Mobile at 142.4 million

Starlink and Deutsche Telekom announced a partnership to launch satellite-based mobile service across 10 European countries starting in 2028. The service will use Starlink's second-generation V2 satellites to provide data, voice, messaging, and broadband directly to mobile phones in hard-to-reach areas. This marks Starlink's first European partnership as parent company SpaceX prepares for a potential $50 billion IPO.

• Service will launch in 2028 across Germany, Austria, Poland, Hungary, Czech Republic, Slovakia, Greece, Croatia, Montenegro, and North Macedonia, targeting areas with challenging network expansion
• This is the first European deployment using Starlink's second-generation V2 satellites, with the service providing broadband directly to mobile phones
• SpaceX is reportedly preparing for a record-setting IPO seeking to raise up to $50 billion, while Starlink currently operates 9,000 satellites serving approximately 9 million customers

Nvidia announced it will invest a total of $4 billion in photonic product manufacturers, splitting $2 billion each between Lumentum and Coherent. The investments will support the companies' research and development efforts as well as manufacturing operations in the United States.

• Each company (Lumentum and Coherent) will receive $2 billion from Nvidia
• The funding is designated for R&D and U.S.-based manufacturing operations
• Investment targets photonics companies, suggesting Nvidia's strategic focus on optical interconnect technology for AI and data center applications

The U.S. FDA has lifted a clinical hold on Intellia Therapeutics' late-stage clinical trial for an experimental gene therapy targeting heart disease. The removal of the hold allows the biotech company to resume patient enrollment and testing of its treatment. This development is significant for Intellia's pipeline as it moves forward with its gene-editing therapy program.

• The FDA removed the clinical hold on a late-stage trial, enabling Intellia to continue development of its heart disease gene therapy
• The therapy uses gene-editing technology, representing a novel approach to treating cardiovascular conditions
• Clinical holds are typically placed when regulatory safety concerns arise, and their removal indicates the FDA's concerns have been addressed

The U.S. FDA informed UniQure that data from an early-to-mid stage clinical trial is insufficient to support a marketing application for the company's gene therapy designed to treat a brain disorder. This regulatory setback indicates the therapy requires additional evidence before it can proceed toward potential approval.

• FDA rejected UniQure's early-to-mid stage trial data as inadequate for supporting a marketing application
• The therapy in question is a gene therapy treatment targeting a brain disorder
• UniQure will likely need to conduct additional studies or provide supplementary data before resubmitting for regulatory approval

A consortium led by BlackRock's Global Infrastructure Partners and equity firm EQT AB agreed to acquire utility company AES Corp for $33.4 billion, including debt, at $15.00 per share. The deal, expected to close in late 2026 or early 2027, highlights how utilities have become attractive takeover targets as the AI boom drives increased electricity demand.

• The acquisition values AES Corp at $33.4 billion including debt, with shareholders receiving $15.00 per share
• The transaction reflects growing investor interest in utilities driven by surging electricity demand from artificial intelligence infrastructure
• The deal is expected to close in late 2026 or early 2027, pending regulatory approvals

Crude oil prices spiked to $80 per barrel on March 2, 2026, following joint U.S.-Israeli strikes on Iran that resulted in the reported death of Iran's Supreme Leader and brought shipping through the Strait of Hormuz to a halt. The escalating Middle East conflict has roiled global financial markets, strengthening the dollar while pressuring stocks and complicating the Federal Reserve's rate outlook as energy-driven inflation concerns resurface.

• At least 150 tankers have dropped anchor in Gulf waters with three reportedly hit, disrupting critical energy shipping routes through the Strait of Hormuz
• Brent crude reached its highest level since January 2025 and turned positive year-over-year for the first time in over a year, with some analysts forecasting $100 per barrel if the conflict extends several weeks
• Markets have pushed back expectations for the next Fed rate cut to September as rising energy prices threaten inflation, while the dollar strengthened against major energy importers including Japan, China, and Europe

Global defense stocks surged on Monday following a dramatic military escalation between the U.S., Israel, and Iran over the weekend that killed Iranian Supreme Leader Ayatollah Ali Khamenei. The defense sector rallied as a rare bright spot amid broader market sell-offs driven by fears of a wider regional conflict that President Trump warned could last up to four weeks.

• European defense stocks Hensoldt and BAE Systems jumped over 5%, while U.S. firms Lockheed Martin and Northrop Grumman rose 7.7% and 5.2% respectively in premarket trading
• The rally comes after weekend attacks killed Iran's Supreme Leader, ending his 36-year rule, with retaliatory Iranian strikes against U.S. bases in the Middle East already underway
• Defense companies have already posted significant gains in recent years as governments increased defense spending amid mounting geopolitical tensions

Nigeria has divided the OPL 245 oil block into four new assets to be operated by Eni and Shell, potentially resolving the future of one of Nigeria's largest deepwater reserves that has remained undeveloped for nearly 30 years. The field was at the center of a major bribery scandal involving allegations that $1.3 billion in payments were diverted to politicians and middlemen, though Shell, Eni, and their executives were acquitted in 2021.

• Final contracts for the four new blocks are expected to be signed starting Monday, clearing the way for development of the long-dormant field
• The original licence was awarded in 1998 to Malabu (linked to former oil minister Dan Etete) and later sold to Shell and Eni for $1.3 billion
• Nigerian government has signaled for years its desire to bring the block into production as one of the country's biggest deepwater reserves

Standard Chartered has advised employees to postpone travel to the Middle East and shelter in place following U.S. and Israeli military strikes on Iran. The bank confirmed its operations across six Middle Eastern countries continue to function normally despite the regional tensions.

• The bank operates in UAE, Bahrain, Saudi Arabia, Qatar, Iraq, and Oman, with no direct operational impact reported
• Staff in the region have been instructed to shelter in place until further notice as a precautionary measure
• The advisory comes as StanChart focuses on expanding cross-border services and wealth management in Middle Eastern markets

Malaysia has granted Lynas Rare Earths a 10-year license renewal to import and process rare earth materials at its Malaysian facility, ending years of regulatory uncertainty. The Australian miner had faced concerns about radiation levels from its operations, with previous license extensions only running through 2026. The renewal comes as Lynas invests approximately A$180 million in expanding its Malaysian separation facility to meet growing demand for rare earth oxides sourced outside China.

• The formal license from Malaysia's Department of Atomic Energy takes effect March 3, resolving previous concerns about radiation from cracking and leaching processes
• Lynas is investing about A$180 million ($127.91 million) to build a new separation facility in Malaysia amid rising demand for heavy rare earth oxides
• The license renewal provides long-term operational certainty after Malaysia previously amended the license in 2023 to only extend operations until March 2026

Amazon Web Services reported a fire at its UAE data center on March 1 after objects struck the facility, forcing a temporary power shutdown. The incident occurred amid Iran's retaliatory missile and drone strikes on the UAE following U.S. and Israeli attacks on Iran, though AWS did not confirm whether the data center impact was connected to these strikes.

• The fire started around 4:30 AM PST when objects hit one Availability Zone (mec1-az2), creating sparks and fire that required fire department response and power shutdown
• AWS indicated connectivity restoration would take several hours for the affected zone, while other UAE zones continued operating normally
• The timing coincides with Iranian strikes hitting airports, ports, and residential areas across the UAE and wider Gulf region, though AWS neither confirmed nor denied any connection

Berkshire Hathaway reported a 29% decline in operating earnings to $10.2 billion in Q4 2025, Warren Buffett's final quarter as CEO before stepping down. The decline was driven primarily by weakness in the company's insurance business, with underwriting profits falling 54% and insurance investment income dropping nearly 25% year-over-year.

• Q4 operating earnings fell to $10.2 billion from $14.56 billion in the prior-year quarter, a decline of more than 29%
• Insurance underwriting profits dropped 54% to $1.56 billion from $3.41 billion, while insurance investment income declined nearly 25% to $3.1 billion
• Full-year 2025 operating earnings totaled $44.49 billion, down from $47.44 billion in 2024

Nvidia plans to launch a new processor designed to help OpenAI and other customers build faster and more efficient AI systems, according to a Wall Street Journal report citing people familiar with the matter. The chip represents Nvidia's continued push to maintain its dominance in AI hardware infrastructure.

• The new processor is specifically designed to boost AI system performance and efficiency for major customers including OpenAI
• The report comes from the Wall Street Journal citing unnamed sources, and Reuters could not independently verify the information
• The announcement reinforces Nvidia's strategic position as a key hardware provider for leading AI companies

Delta Air Lines announced an order for 34 additional Airbus A321neo aircraft, scheduled for delivery starting in 2029, bringing its total A321neo commitment to 189 planes. This marks Delta's third major aircraft order in 2025, following purchases of Boeing 787-10 and other jets, as the carrier focuses on fleet modernization with fuel-efficient planes offering more premium seating.

• Delta currently operates 92 A321neo aircraft with 97 on firm order and options for 36 more, totaling 189 planes with this new commitment
• The A321neo has the lowest operating cost per seat among Delta's narrowbody jets and carries more first-class and extra-legroom seats than any other single-aisle aircraft in its fleet
• Delta's capacity growth strategy prioritizes higher-priced premium seats over main cabin expansion, with the A321neo serving domestic and shorter international routes using Pratt & Whitney GTF engines

The Federal Communications Commission approved Charter Communications' $34.5 billion acquisition of Cox Communications, a deal first announced in March 2025. The merger combines two of the largest U.S. cable and broadband operators as they compete with streaming services and mobile carriers, creating the largest U.S. cable TV and broadband provider with approximately 38 million customers.

• Charter committed to investing billions in network upgrades to deliver high-speed service and agreed to onshore jobs as part of the approval conditions
• The company will extend its $20/hour minimum starting wage to Cox workers following the acquisition
• The combined entity will serve around 38 million customers, making it the largest cable TV and broadband provider in the United States

SoftBank's PayPay is preparing for a U.S. IPO on Nasdaq targeting up to $14 billion valuation, with Qatar Investment Authority, Visa, and Abu Dhabi Investment Authority set to invest over $200 million as cornerstone investors. The listing, expected next month, is part of SoftBank's strategy to generate funds for its $30 billion commitment to OpenAI and broader AI investments.

• PayPay targets $14 billion valuation in what could be the largest U.S. listing for a Japanese company, with the IPO originally delayed from December due to U.S. government shutdown
• SoftBank is divesting assets to fund AI investments, having already sold $5.8 billion in Nvidia and $4.8 billion in T-Mobile shares after completing a $41 billion investment for 11% of OpenAI
• PayPay has 72 million registered users as of December 31 and recently partnered with Visa to expand into the U.S. market