Nasdaq rises with IBM, Goldman Sachs leading, as Iran strikes continue Proactive uses images sourced from Shutterstock 10:50am: Housing rises, jobs moderate US pending home sales surged in February, posting a 1.8% monthly increase, well above expectations for a 0.6% decline and reversing a 1.4% fall in the prior month, according to the National Association of Realtors. The rise suggests continued resilience in the housing market despite higher mortgage rates. Meanwhile, private-sector job growth slowed ...

Funds mobilised by India Inc via the external commercial borrowing (ECB) route vaulted over the $5 billion mark for the first time in the current financial year in January 2026 amid marginal cost of funds-based lending rate (MCLR) amid hardening domestic bond yields.Indian companies mopped up $5.336 billion in January 2026 against $4.435 billion in December 2025, per RBI data.With domestic corporate bond yields rising, corporate ventured overseas for relatively cheaper funding. For example, during the Janua ...

Group 1 - The U.S. Food and Drug Administration (FDA) has declined to approve Aldeyra Therapeutics' drug for a specific type of eye disease [1] - This decision represents a setback for Aldeyra Therapeutics, which was seeking approval for its treatment [1] Group 2 - The FDA's rejection may impact Aldeyra's stock performance and investor sentiment [1]

Company Insights - OpenEvidence, an AI-powered medical information and clinical decision support company, recently closed a $250 million Series D funding round, doubling its valuation to approximately $12 billion [2] - The company operates with fewer than 100 employees, yet its technology is expected to assist 300 million Americans in receiving medical treatment this year [3] - The CEO of OpenEvidence, Daniel Nadler, emphasizes that the scale of impact from small teams utilizing AI is unprecedented, suggesting a shift in how companies can be structured and operated [4] Industry Trends - There is a growing consensus among tech leaders that smaller teams can achieve results previously requiring larger organizations, driven by AI as a collaborative tool [4] - Block, a fintech company, announced a 40% reduction in its workforce due to AI efficiencies, indicating a broader trend of workforce restructuring in response to technological advancements [4] - McKinsey's research suggests that to fully leverage AI, organizations must undergo a double transformation—both technical and organizational—redefining workflows and employee roles [4][5] Market Dynamics - According to Capgemini's World Corporate and Investment Banking Report 2026, corporate and investment banks (CIBs) face increasing competition from non-bank financial institutions, with 85% of corporate banking clients planning to engage with non-bank entities within the next year [11][12] - The report indicates that only 23% of CIB clients feel their needs for real-time responsiveness and innovative solutions are currently met, highlighting a significant gap in service delivery [12] - A forecasted compound annual growth rate of 5.4% for CIBs over the next five years reflects a decline from the previous rate of 6.5% between 2022 and 2024, suggesting a need for CIBs to adapt their business models [13]

Geopolitical Developments - The Israel Defense Forces (IDF) have initiated extensive military strikes against Iran, marking a significant escalation in regional tensions [2][11] - U.S. Central Command (CENTCOM) has confirmed its involvement in targeting locations within Iran, indicating a coordinated military strategy [2] Investor Sentiment - The Bank of America (BAC) March Fund Manager Survey indicates a shift in global investor sentiment towards bearishness, primarily due to concerns over the Middle East conflict and private credit risks [3][11] Energy Markets - Angola is projected to load 1.04 million barrels per day (b/d) of crude oil in May, providing some clarity amidst geopolitical uncertainties [5] - Ukraine's President Zelenskiy reported that repairs on the Druzhba pipeline are nearing completion, which could alleviate supply constraints for Central and Eastern Europe within 1.5 months [6] - The European Union is actively seeking alternative routes for non-Russian crude oil to ensure stable transit for landlocked nations despite ongoing conflicts [7] Corporate Strategy Shifts - OpenAI is undergoing a significant internal reorganization to refocus on coding and business users, moving away from its previous consumer-centric approach [8][11] - PayPal has expanded its cryptocurrency services by enabling stablecoin access in 70 countries, enhancing the utility of its PYUSD stablecoin in international markets [9][11] - Audi, a subsidiary of Volkswagen, is adjusting its pricing strategy and will not implement further price increases for American customers despite global inflationary pressures [9] Healthcare Developments - Pfizer reported positive Phase 2 results for its next-generation CDK4 inhibitor, atirmociclib, which targets second-line metastatic breast cancer, potentially strengthening its oncology pipeline [12][11]

Economic Overview - The US economy is experiencing significant challenges, prompting the Federal Reserve to closely monitor the situation as it prepares for its second interest-rate decision of 2026, with a high likelihood of holding rates steady [1][3] - The Fed has previously cut rates three times in the latter half of 2025 and is expected to consider at least one rate cut in the upcoming year [1] Job Market Analysis - The February jobs report revealed a loss of 92,000 jobs, with the unemployment rate rising to 4.4%, indicating a weakening job market compared to January's growth [6][8] - Economists suggest that despite a positive January report, the overall job creation has stagnated over the past six months, raising concerns about the labor market's trajectory [8] Inflation and Commodity Prices - The February consumer price index showed a year-over-year increase of 2.4%, unchanged from January, but does not account for the recent spike in energy prices due to the ongoing conflict in Iran [3] - The closure of the Strait of Hormuz by Iran has disrupted approximately 20% of global oil production, leading to increased oil prices, which recently surpassed $100 per barrel [4][5] Federal Reserve's Monetary Policy - The Fed's decision on interest rates will significantly impact consumer borrowing costs, including mortgage and credit card rates, as well as inflation and job market dynamics [10][11] - The upcoming quarterly economic projections from the Fed may reveal a range of predictions due to recent policy disagreements among Fed leaders [9] Leadership Changes and Political Context - Jerome Powell is set to be replaced by Kevin Warsh, a Trump appointee known for a hawkish stance on monetary policy, pending Senate confirmation [2][12] - Warsh's nomination is complicated by ongoing tensions between the Federal Reserve and the White House, including a Department of Justice probe into the Fed's operations [14][15][16]

By Khanh Vu and Phuong Nguyen HANOI, March 17 (Reuters) - Vietnamese companies are competing to launch the country's first licensed cryptocurrency exchanges as the government moves to curb trading on overseas platforms in ‌one of the world's most active crypto markets. Hanoi plans to roll out a pilot scheme for ‌locally run digital asset exchanges as soon as this month, according to a government resolution issued in February, as part of a broader effort ​to tighten oversight of crypto trading and capital ...

Traders work on the floor of the New York Stock Exchange at the opening bell, March 12, 2026.LONDON — European stocks are set to open broadly flat on Tuesday as global markets remain volatile and oil prices continue to fluctuate.The U.K.'s FTSE 100 index is seen opening 0.1% higher while Germany's DAX, France's CAC 40 and Italy's FTSE MIB are expected to be flat, according to data from IG.Regional markets regained ground on Tuesday morning as investors continued to weigh ongoing unrest in the Middle East an ...

13 March 2026 Eliot Camplisson* Co-Head GIR Asia-Pacific & Global Equity Research The Hongkong and Shanghai Banking Corporation Limited eliot.camplisson@hsbc.com.hk +852 2822 1622 Global Sector Analyst Energy disruption: second-order consequences As the Middle East conflict continues, the next-order effects have begun to form. Our global equity teams look across their coverage, identifying key areas to watch and the stocks that would be most and least impacted by a prolonged conflict. As oil & gas prices ha ...

Market Overview - The current market sentiment is mixed and uncertain, influenced by recent geopolitical and oil shocks [2][5] - Historical data shows that after oil prices increase by 20% over two days, stocks have risen six out of seven times in the following year, averaging a gain of 24% [3][4] - Geopolitical shocks since the Korean War have led to an average stock gain of 14.2% a year later, indicating resilience in the market [4] Oil and Energy Sector - Oil prices are currently at $94.89 per barrel, and the decline in oil prices has provided a boost to stocks [1] - The energy sector is performing well, benefiting from both the AI infrastructure boom and the ongoing conflict in the Middle East, which is expected to drive energy prices higher [12] - The financial sector, in contrast, is facing challenges due to private credit fears and major banks controlling withdrawals, leading to increased uncertainty [12] Technology Sector - The "MAG 7" tech stocks have underperformed year-to-date, despite being strong performers in previous years [14] - There is a notable rotation out of tech stocks, with the S&P 493 outperforming the S&P 500, indicating a shift in market dynamics [15] Federal Reserve and Interest Rates - The market does not anticipate interest rate cuts in the near term, with expectations for cuts being pushed further into the year due to inflation fears and oil shocks [17] - There is speculation that the Federal Reserve may implement more cuts than currently priced in by the market [17] Investor Sentiment - Current bearish sentiment is high, with many investors feeling pessimistic due to negative headlines; however, historical trends suggest that markets tend to recover over time [18]