Rising oil prices have changed the market’s view on inflation. As energy costs increase, investors are reassessing the US inflation path, believing that the previous disinflation trend may be interrupted. In this context, expectations for Federal Reserve rate cuts this year have clearly diminished, while expectations for rates to remain higher for longer have strengthened.

U.S. equity indexes finished lower in a volatile week shaped by geopolitical tensions and resulting volatility in oil prices, persistent inflation concerns, and a somewhat hawkish interpretation of the Federal Reserve’s latest policy signals. The Dow Jones Industrial Average fared worst, declining 2.11%, followed by the Nasdaq Composite, which shed 2.07%. The S&P MidCap 400 Index held up best but still fell 1.34%.

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Morgan Stanley's report is a mix of highlights and controversy. Cloud is the standout — revenue grew 36% YoY, with external revenue accelerating to 35%, and AI-related revenue delivering triple-digit growth for 10 consecutive quarters, validating Alibaba Cloud's competitiveness in AI infrastructure.

Yesterday, the market endured a violent V-shaped reversal. Oil prices $WTI Crude Oil - main 2605(CLmain)$ surged at the open, dragging $S&P 500(.SPX)$ down as much as 1%.

The sell-off continued today. In pre-market trading, $SPDR Gold ETF(GLD)$ and $Gold Trust Ishares(IAU)$ fell 2.86% and 2.77%, respectively. Mining ETFs $VanEck Gold Miners ETF(GDX)$ and $VanEck Junior Gold Miners ETF(GDXJ)$ declined 5.12% and 5.24%, while leveraged products amplified the downside, with $MicroSectors Gold Miners 3x Leveraged ETN(GDXU)$ down 15.37%, $Direxion Daily Gold Miners Index Bull 2X Shares(NUGT)$ down 10.39%, and $Direxion Daily Junior Gold Miners Index Bull 2X Shares(JNUG)$ falling 7.03%.

Typically, war equals higher gold prices. But 2026 is proving different. With gasoline prices up 21% since the conflict began, inflation expectations are ripping higher. The market is betting the Fed will stay "higher for longer," pushing real yields up and temporarily choking gold's momentum.

Wednesday — Options Market Analyze options open interest and implied volatility to track short-term market movements.

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For tonight’s Micron earnings, the market isn't just looking at Revenue and EPS. The real focus is on Gross Margins, HBM Demand, and Future Guidance.

Singapore stocks opened higher on Tuesday. STI up 0.8%; Nio, UOB, Singtel and Seatrium up 1%; SingPost down 1%.

The MACD (Moving Average Convergence Divergence) is a trend-following momentum indicator that shows the relationship between two moving averages of a security’s price. It is one of the most popular tools in technical analysis because it helps traders identify trend direction, momentum, and potential reversal points.

At the recently concluded GTC 2026, $NVIDIA(NVDA)$ unveiled nearly its entire arsenal: the Vera Rubin architecture pushing the limits of compute, the acquisition of Groq bringing LPUs to strengthen inference capabilities, and the OpenClaw agent strategy. Jensen Huang has effectively completed a transformation—from “selling chips” to becoming a full-stack AI service provider.

Housing data showed modest improvement as existing home sales rose and affordability reached its highest level since 2022. However, Treasuries declined as geopolitical risks and inflation concerns pushed yields higher, while corporate and high-yield bonds faced volatility.

NVIDIA has publicly acknowledged that the main cost pressure behind maintaining its ~75% gross margin comes from HBM (High Bandwidth Memory). Meanwhile, Amazon has reportedly raised its 2026 capital expenditure target to $200 billion, signaling massive investment by hyperscalers. Their hunger for memory is reshaping the entire bill of materials (BOM) for AI infrastructure.

On March 13, software giant $Adobe(ADBE)$ (ADBE.US) delivered a bit of a "shocker." The company announced that Shantanu Narayen, its CEO of 18 years, will step down once a successor is found. The news sent shockwaves through the market, with $Adobe(ADBE)$ stock falling close to 8% in pre-market Friday trading immediately following the announcement.

Energy stocks are the most underappreciated beneficiaries of this AI cycle. Nuclear power (CEG, OKLO, TLN) is highly sought after by data centers for its reliable baseload electricity. GE Vernova's power equipment orders are also accelerating.

Thursday — Futures Market Monitor price fluctuations in energy, precious metals, and agricultural futures. International oil prices resumed their upward trend. On the New York Mercantile Exchange, light sweet crude oil futures for April delivery rose $3.80 to settle at $87.25 a barrel, a gain of 4.55%; Brent crude oil futures for May delivery rose $4.18 to settle at $91.98 a barrel, a gain of 4.76%.

The geopolitical risk premium has just been re-priced for the AI era. On March 11, Iran’s state media and the IRGC-affiliated Tasnim News Agency published a chilling manifesto titled "Iran’s New Targets."

Wall Street (Goldman Sachs / Josh Brown) proposed HALO (Heavy Assets, Low Obsolescence). The core idea: when algorithms can replicate all software, physical assets that cannot be algorithmically copied become the rarest and most valuable.