Tonight's Highlights | Middle East Escalation Met with Stabilizing Sentiment; U.S. Futures Edge Higher

U.S. stock futures rose slightly Wednesday as investors monitored military developments involving the U.S., Israel, and Iran. Major European indices also trended upward. Despite a broad decline in the previous session, U.S. markets recovered significantly from their intraday lows.

 

Since the conflict erupted last weekend, U.S. equities have shown more resilience than European and Asian counterparts. As a net energy exporter, the U.S. is viewed as better shielded from energy transport disruptions. Treasury Secretary Bessent stated Wednesday that the U.S. will issue "a series of announcements" to ensure oil transit remains open in the Persian Gulf. This follows President Trump's Tuesday remarks regarding naval escorts and insurance for tankers in the Strait of Hormuz.

 

Deutsche Bank’s Jim Reid noted the market is currently in a "headline-watching" phase with conflicting reports hourly. While tensions have yet to de-escalate, Edward Jones economist James McCann suggested that long-term investors may see opportunities if energy prices stabilize or retreat in the coming weeks.

Corporate News

Tesla Whale KoGuan Leo Buys 1 Million NVIDIA Shares

 

Billionaire KoGuan Leo disclosed on March 4 that he purchased 1 million shares of NVIDIA on Tuesday and plans to continue buying. He stated he is "convinced AI is not a bubble." Despite skepticism regarding Elon Musk's recent direction, Leo remains a major holder of Tesla, arguing that its energy, Cybercab, and TeslaBot businesses are undervalued.

 

Saudi Aramco’s Ras Tanura Refinery Targeted in Failed Attack

 

The Saudi Ministry of Defense reported on March 4 that an attempted attack on the Ras Tanura refinery was unsuccessful. Initial assessments show no damage to the facilities.

 

QatarEnergy Declares Force Majeure

 

Following the suspension of LNG and related product production, QatarEnergy officially declared Force Majeure to affected buyers on March 4.

 

Volvo Cars: Global Sales Down 10% 

 

Volvo reported global sales of 156,965 units for the three-month period ending February 2026, marking a 10% year-over-year decline.

 

ChatGPT Deletion Spikes After OpenAI-Pentagon Deal

 

Following news of OpenAI's partnership with the U.S. Department of Defense, ChatGPT app deletions in the U.S. surged by 295% on February 28, compared to a 30-day average daily deletion rate of 9%.

 

BASF to Raise Prices for Plastic Additives

 

BASF announced global price hikes of up to 20% for its antioxidants and light stabilizers, citing significant increases in raw material, fixed inflation, and freight costs.

 

NVIDIA-backed Ayar Labs Raises $500M at $3.75B Valuation

 

Optical interconnect chipmaker Ayar Labs completed a $500 million Series E round led by Neuberger Berman, with participation from ARK Invest and the Qatar Investment Authority.

 

Walmart-backed PhonePe Eyes $10.5B Valuation in Indian IPO

 

Digital payment app PhonePe is seeking a valuation of up to $10.5 billion for its planned India IPO, targeting a listing completion by April of this year.