GoAI Market Wrap - 11th Mar

Stock Market

U.S. equity indices delivered a mixed performance on Tuesday, with the S&P 500 closing slightly lower amid volatile trading. The Dow Jones Industrial Average edged down 0.07%, while the Nasdaq Composite managed a marginal gain of 0.01%. Traders remained intensely focused on the conflict in Iran as crude prices retreated from recent highs.

By the closing bell, the Dow Jones Industrial Average fell 0.07% to 47,706.51. The S&P 500 declined 0.21% to 6,781.48, and the Nasdaq Composite rose 0.01% to 22,697.10.

International oil prices plummeted on Tuesday, with WTI crude oil futures diving 11.94% to settle at $83.45 per barrel, while Brent crude futures dropped 11.28% to close at $87.80 per barrel. The primary drivers behind the sell-off were market expectations that major global economies might release strategic petroleum reserves, coupled with remarks from President Trump suggesting the duration of the war could be limited.

However, multiple indicators suggest the conflict is unlikely to end in the short term. The U.S. Defense Secretary stated that airstrikes against Iran will further escalate, while Iran’s Foreign Minister previously noted that ceasefire negotiations are currently "not on the table." Simultaneously, Saudi Aramco warned that the oil market could face "catastrophic consequences" if disruptions to energy transportation persist for an extended period.

Mike Sanders, Portfolio Manager and Head of Fixed Income at Madison Investments, noted that the economic impact would not be overly severe if oil prices retreat to the $60 or $70 range. "If oil remains sustained at higher levels—and given current uncertainties, the market likely requires a certain risk premium—then it will indeed have an impact, and it will take time to transmit through to the economy," Sanders said.

The U.S. Energy Information Administration (EIA) stated in its monthly report on Tuesday that Brent crude is expected to remain above $95 per barrel for the next two months due to supply disruptions caused by the war in Iran, before potentially retreating to approximately $70 per barrel by year-end as supply recovers.

Global Markets

Trump Warns of Severe Consequences if Iran Mines Strait of Hormuz: On Tuesday, President Trump stated via social media that if Iran deploys naval mines in the Strait of Hormuz, they must be removed immediately or Iran will face "unprecedented military consequences."
U.S. Reportedly Urges Israel to Spare Iranian Energy Facilities: Three individuals familiar with the matter revealed on Tuesday that the Trump administration has requested Israel to cease further airstrikes on Iranian energy infrastructure, with a particular emphasis on oil facilities.
U.S. Envoy Confirms Postponement of Trilateral Talks: President Trump’s envoy, Witkoff, stated in an interview on Tuesday that the trilateral meeting between the U.S., Russia, and Ukraine will be delayed until sometime next week. Ukrainian President Zelenskyy also confirmed that the new round of meetings, originally scheduled for March 10–11, has been pushed back by one week following a proposal from the U.S. side.

Corporate News

Amazon Reportedly Plans Multi-Currency Bond Offering of Up to $42 Billion: E-commerce and cloud giant Amazon is planning a dual-currency bond issuance in both U.S. dollar and Euro markets, targeting a total financing volume of approximately $37 billion to $42 billion. Sources indicate Amazon is marketing up to 11 tranches of investment-grade USD bonds with maturities ranging from 2 to 50 years, aiming to raise $25 billion to $30 billion. Additionally, the company plans to issue eight tranches of Euro bonds totaling 10 billion Euros ($11.6 billion) as early as Wednesday.
Meta Acquires AI Agent Social Platform Moltbook: Meta announced on Tuesday that it has acquired Moltbook, a social platform specifically designed for artificial intelligence agents. The founder of the platform will join Meta’s AI research division.
Oracle Reports Strong Third-Quarter Revenue of $17.19 Billion: Oracle reported adjusted third-quarter revenue of $17.19 billion, exceeding analyst expectations of $16.89 billion. Cloud infrastructure revenue (IaaS) reached $4.9 billion, while total cloud revenue (IaaS+SaaS) hit $8.9 billion. The company raised its FY2027 revenue guidance to $90 billion and expects FY2026 capital expenditures to reach $50 billion. Oracle shares surged over 9% in after-hours trading.
Boeing Delays Some 737 MAX Deliveries Over Wiring Issues: Boeing stated it will delay the delivery of certain 737 MAX aircraft after discovering wiring problems in newly produced planes, representing a fresh setback to the company’s plan to accelerate customer deliveries.
Saudi Aramco 2025 Adjusted Net Profit Falls 5.1% to $104.7 Billion: According to an earnings report released on March 10, Saudi Aramco saw its 2025 adjusted net profit decline by 5.1% year-over-year, citing factors such as increased global oil supply and the impact of U.S. tariffs.

Forex & Commodities

International oil prices declined on March 10. By the close of trading:

WTI Crude Oil Futures fell $8.38, or 8.84%, to settle at $86.39 per barrel.
COMEX Gold Futures surged $95.00, or 1.86%, to $5,198.70 per ounce.
COMEX Silver Futures rose $4.05, or 4.79%, to $88.57 per ounce.
Spot Gold gained $56.11, or 1.09%, to reach $5,192.92 per ounce.
Spot Silver increased $1.32, or 1.52%, to $88.28 per ounce.

Key Events

EIA: Brent to Remain Above $95 Due to Supply Disruptions: The U.S. Energy Information Administration noted in its monthly report that the conflict in Iran will keep Brent crude prices elevated above $95 per barrel for the next two months.
UN Warns of Shipping Obstructions Driving Up Food and Fertilizer Costs: Amid escalating Middle East tensions, the United Nations warned that the effective closure of the Strait of Hormuz is rattling global markets and could push up food and fertilizer prices, disproportionately impacting developing nations.

Cryptocurrency

Cryptocurrency markets exhibited mixed momentum over the last 24 hours. Bitcoin (BTC) is currently trading at $69,992.95, reflecting a 1.02% increase, while Ethereum (ETH) rose 0.57% to $2,033.60. Dogecoin (DOGE) registered a notable gain of 3.17% to reach $0.09416.

Key Events

First Space-Based Bitcoin Mining Satellite Set for Launch: Philip Johnston, CEO of Starcloud—a U.S. startup specializing in orbital computing and strategically backed by Nvidia—officially announced that the Starcloud-2 satellite will launch in 2026. The satellite will be equipped with professional Bitcoin ASIC miners, making it the first spacecraft to achieve Bitcoin mining in orbit. This initiative represents a landmark integration of space computing and cryptocurrency, with Nvidia providing critical support for the project's computational hardware.