
Week Ending March 13th, 2026
Tuesday’s Market Moves
S&P 500 – 6,781.48 (-0.21%)
Dow Jones – 47,706.51 (-0.072%)
NASDAQ – 22,697.10 (+0.0051%)
Weekly Recap
OIL & MIDDLE EAST DEVELOPMENTS: During Monday’s session, oil briefly spiked above $100 per barrel before retreating after comments from Donald Trump suggested the conflict in Iran may be nearing an end, sparking a late-day rally in U.S. equities. Secretary of Energy Chris Wright claimed on social media that the U.S. Navy had successfully escorted a tanker through the Strait of Hormuz, though the post was later removed and the White House denied the statement. Investors closely monitored developments in the Middle East, with G7 ministers meeting on Tuesday to discuss a potential coordinated release of oil from strategic reserves after failing to reach agreement on Monday. Saudi Aramco CEO Amin Nasser warned that further disruptions to global energy supply could prove “catastrophic” as tensions continue to escalate.
INTERNATIONAL MARKETS: Overseas, Asian markets moved sharply higher overnight amid optimism over a potential near-term de-escalation. Japan’s Nikkei 225 rose nearly 3%, while Korea’s KOSPI Composite Index gained more than 5%. European markets also traded higher, supported by the pullback in oil prices. Despite recent gains, Japan’s Nikkei 225 is down nearly 8% month-to-date, Korea’s KOSPI has fallen more than 11%, and the EURO STOXX 50 is down over 5%. Bond yields edged up, with the 10-year U.S. Treasury yield starting the day around 4.12%, while gold advanced as the dollar weakened, with traders assessing the outlook for potential monetary easing.
CORPORATE EARNINGS & MOVERS:
- Hewlett Packard Enterprise (HPE) slipped despite reporting quarterly earnings that topped expectations, while its forward guidance largely matched analyst forecasts.
- Shares of Hims & Hers Health (HIMS) surged 41% after reports that Novo Nordisk will distribute its weight-loss medications through the company’s platform.
- Centene (CNC) fell as membership in some Affordable Care Act plans declined.
- CrowdStrike (CRWD) gained after a Morgan Stanley upgrade to “overweight.”
- Qualcomm (QCOM) dropped on a BofA Securities “underperform” rating.
- Kohl’s (KSS) declined after missing quarterly revenue expectations, while cruise line stocks recovered from last week’s declines.
- Gap Inc. (GAP) extended earnings-related losses.
- Rivian Automotive (RIVN) climbed following a TD Cowen upgrade and optimistic sales projections for its upcoming R2 SUV.
- Defense contractors Lockheed Martin (LMT) and Northrop Grumman (NOC) fell after Trump comments suggested the conflict could soon end.
- Bitcoin rose modestly but remained below $70,000.
MARKET HIGHLIGHTS & ECONOMIC NEWS:
- U.S. equity markets traded slightly higher on Tuesday, with oil prices holding just under $90 per barrel.
- Existing home sales unexpectedly rose in February as lower mortgage rates improved affordability, though limited housing supply and geopolitical risks could slow recovery.
- In legal news, a federal judge temporarily blocked Perplexity AI from scraping Amazon’s website, marking a key development in AI data-access disputes.
- In corporate and tech moves, Meta Platforms acquired AI-agent social network Moltbook.
- Google expanded its Pentagon AI partnership with new agent tools.
- Nvidia made a major investment in Mira Murati’s Thinking Machines Lab to advance AI systems using Nvidia computing infrastructure.
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“Buy land. They’re not making it anymore.”
— Mark Twain
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Notable Stocks
- Nvidia (NVDA)
- CrowdStrike (CRWD)
- Hewlett Packard Enterprise (HPE)
- Centene (CNC)
- Qualcomm (QCOM)
Weekly Notables
U.S. Existing Home Sales Rise as Lower Mortgage Rates Improve Affordability
U.S. existing home sales unexpectedly increased in February as declining mortgage rates and slower home-price growth brought buyers back into the market. However, limited housing supply could still restrain activity during the upcoming spring selling season. The report from the National Association of Realtors suggested early signs of improvement in the housing market, with affordability gradually strengthening. Notably, the share of first-time homebuyers reached its highest level in five years, highlighting renewed participation among new entrants to the housing market. Housing affordability has also become a key political issue ahead of the November midterm elections.
Google Expands Pentagon AI Partnership with New Military Agent Tools
Google is expanding its partnership with the U.S. military by introducing new tools that allow Pentagon personnel to build custom AI assistants for everyday administrative work. The move deepens the company’s role in defense technology at a time when the government is facing legal challenges from other AI firms over access to military systems. Google announced Tuesday that civilian and military staff will soon be able to create personalized AI agents through the Pentagon’s enterprise AI portal, GenAI.mil. The platform will provide access to a new tool called Agent Designer, enabling users across the Department of Defense to build digital assistants without requiring advanced programming skills.
Earnings Spotlight: Adobe (ADBE)
Adobe (ADBE) is set to report fiscal first-quarter 2026 results after the market closes on March 12, 2026. Analysts expect earnings of about $5.87 per share and revenue near $6.275 billion for the quarter, implying mid-single-digit top-line growth from a year earlier. Street estimates point to continued strength in subscription revenue, with analysts penciling in roughly $6.09 billion for the services that underpin Adobe’s recurring-revenue model.
What’s Ahead
Inflation and its implications for monetary policy will be a central focus for investors this week. February consumer price index (CPI) data is due today, followed by personal consumption expenditures (PCE) data on Friday. Economists expect both headline and core CPI to rise 2.5% year over year, while headline and core PCE are projected to increase 2.9%.
March 11: February CPI and core CPI and expected earnings from Campbell’s (CPB).
March 12: January factory orders, January housing starts and building permits, and expected earnings from Dollar General (DG), Dick’s Sporting Goods (DKS), Adobe (ADBE), and Lennar (LEN).
March 13: January PCE, Q4 GDP second estimate, University of Michigan preliminary March Consumer Sentiment, and January Job Openings and Labor Turnover Survey (JOLTS).
March 16: February industrial production, and expected earnings from Dollar Tree (DLTR).
March 17: Expected earnings from lululemon (LULU) and DocuSign (DOCU).
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