01 Stock Market
As of Mar 23, U.S. stock index futures performed as follows: Dow contracts rose about 1.51%, S&P 500 futures gained roughly 1.37%, and Nasdaq-100 futures advanced around 1.38%.
President Donald Trump said the U.S. and Iran have held productive talks over the last two days and he was halting any strikes on Iranian power plants and energy infrastructure.
While Iran's Fars news agency, citing a source, said there are no direct or indirect communications with the United States, despite U.S. President Donald Trump's recent statement about "productive" talks with Tehran.
Notable Stock Movers: In pre-market action, semiconductor bellwether NVDA up 1.48% at $175.25 as chip stocks stabilized after heavy selling. Activist headlines lifted SNPS up 2% at $604.00, while legal woes sent SMCI down 2.58% at $20.00. Precious-metal proxies tracked bullion’s slump, with GLD down 3.01% at $400.92. Energy-linked ETFs swung lower—UCO down 4.63% at $40.96—as crude retreated on de-escalation hopes. Conversely, leveraged tech tracker TQQQ up 3.18% at $44.45 reflected a rebound in growth shares. Among megacaps, MSFT up 0.62% at $384.25, while TSLA up 0.05% at $368.14, hinting at tentative rotation back into large-cap technology.
Sector-level flows show investors trimming inflation hedges and rebuilding exposure to growth themes. Gold-mining equities slumped alongside a 4.52% slide in COMEX gold futures, whereas semiconductor, cloud, and AI-linked names found dip-buyers. The tape reflects a market balancing relief over geopolitical back-channels against lingering macro risks from energy volatility and sticky inflation prints due later in the week.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.13%, to 4.40%.
• U.S. Dollar Index rose 0.12% to 99.62.
• WTI crude oil futures fell 5.47% to 92.86 USD/barrel; COMEX gold futures fell 4.52% to 4 368.10 USD/ounce.
03 Key News
1. Washington suspended planned strikes on Iranian power facilities after claiming “productive” discussions with Tehran, easing immediate military risk. The administration’s temporary pause follows reports of back-channel dialogue, prompting a swift pullback in oil prices and a rebound in global equity futures.
2. Iran’s state media asserted there are no active talks with the United States and warned of retaliation against regional power plants if attacked. The statement counters Washington’s narrative of ongoing diplomacy and maintains pressure on energy markets by highlighting the possibility of wider infrastructure targets across West Asia.
3. Elliott Investment Management built a multibillion-dollar stake in Synopsys, signaling a forthcoming activist push. The hedge fund is expected to lobby the chip-design leader for strategic changes and enhanced capital returns, a move that buoyed the stock in early trading and sharpened focus on semiconductor IP valuations.
4. The U.S. Department of Justice indicted a co-founder of Super Micro Computer for allegedly exporting restricted NVIDIA chips to China, heightening compliance scrutiny on tech supply chains. The charges underscore Washington’s tougher stance on technology transfers and weighed on Supermicro’s pre-market share price.
5. State-controlled postal group Poste Italiane submitted a roughly $12.5 billion offer to acquire Telecom Italia, accelerating Europe’s telecom consolidation. Telecom Italia’s board is reviewing the cash proposal, which aims to integrate postal and broadband networks while reducing industry overlap.
6. Roche discontinued development of a muscle-disease therapy but will redirect research toward obesity indications. The strategic refocus, disclosed by affiliate Chugai Pharmaceutical, trims late-stage pipeline risk while preserving potential upside from the same molecule in metabolic disorders.
7. Singapore’s core consumer-price index rose about 1.4% year on year, slightly topping expectations and keeping policymakers vigilant on inflation. The uptick, driven by food and services costs, adds to the regional backdrop of price pressures amid elevated energy markets.
8. The International Energy Agency said it is consulting governments on a coordinated release of strategic oil reserves to counter Gulf supply risks. The agency’s chief called the current Middle East crisis “very severe” and signaled readiness to act if market dislocations intensify, offering a potential safety valve for crude prices.
9. United Airlines is budgeting for crude around $100 a barrel through 2027 and plans to cut flight capacity by roughly five percentage points to safeguard margins. Management cited persistent energy cost pressures and signaled ongoing adjustments to network planning and fuel-hedging strategies.
10. Chinese jeweler Laopu Gold reported revenue and profit more than tripling as demand for premium gold ornaments surged amid higher bullion prices. The company credited store expansions and its fixed-pricing model for driving sales, reinforcing its positioning as a leading domestic luxury brand.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
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