GoAI Market Wrap - 18th Mar

Stock Market

On Tuesday (March 17), U.S. stocks opened higher and closed higher, with the three major indices logging their second consecutive day of gains.

 

By the close, the Dow Jones Industrial Average rose 0.1% to 46,993.26; the S&P 500 Index climbed 0.25% to 6,716.09; and the Nasdaq Composite gained 0.47% to 22,479.53.

 

Eight of the 11 major S&P sectors finished higher, led by Energy and Consumer Discretionary, which both rose over 1%. During the session, WTI crude oil futures rose 2.9% to settle at $96.21 per barrel, while Brent crude jumped 3.2% to $103.42 per barrel.

 

The U.S. government is reportedly planning to further ease sanctions on Venezuela’s oil industry to boost crude output amid the Iran war, aiming to alleviate the tightening global energy supply.

 

Fawad Razaqzada, Market Analyst at Forex.com, noted that while there is a tendency to ignore current tensions, the market has not overreacted. However, he warned that a protracted conflict could eventually exert greater pressure on equities.

 

Renowned investor Louis Navellier commented that the rise in stocks despite high oil prices reflects robust demand for equities and expectations of solid earnings and economic growth. "Investors should expect continued volatility in energy markets until the situation stabilizes. A rebound will occur when signs of a return to 'normalcy' become clearer. The sooner the Iran conflict is resolved, the better."

Global Markets

Oil Prices Rise; U.S. Moves to Ease Venezuela Sanctions

 

The U.S. government plans to further relax sanctions on Venezuela's oil sector to ramp up production as the Iran war drives prices higher. Measures could be announced as early as this week, including issuing individual licenses to more foreign firms to operate in Venezuela without violating U.S. sanctions. Sources say the move is intended to push Venezuelan crude production higher to mitigate the global energy crunch.

 

Argentina Officially Withdraws from the WHO

 

Argentine Foreign Minister Pablo Quirno confirmed on March 17 that the South American nation has withdrawn from the World Health Organization (WHO). Quirno stated on social media that the decision has officially taken effect.

 

He noted that Argentina will continue to promote international health cooperation through bilateral agreements and regional mechanisms while maintaining autonomous decision-making over its health policies. The formal notification was sent to the UN Secretary-General on March 17, 2025; per international treaties, the withdrawal becomes effective one year after notification.

 

EU to Restart Approval Process for U.S. Trade Agreement

 

The European Union is set to resume the approval process for a trade deal with the United States after previous delays. The EU Parliament's Trade Committee is scheduled to vote on the agreement this Thursday.

Corporate News

Applied Intuition Partners with Nvidia on Autonomous Driving Tech

 

Autonomous vehicle software firm Applied Intuition announced a collaboration with Nvidia to accelerate the development and deployment of Level 2+ driver-assistance systems for global automakers. Applied Intuition has become the preferred software provider for OEMs developing L2+ highway driving systems optimized for Nvidia hardware.

 

OpenAI Reaches Agreement with AWS to Bid for U.S. Government Contracts

 

OpenAI reportedly signed a new contract with Amazon Web Services (AWS) on Friday to sell its AI to U.S. government employees for both classified and unclassified work. The deal allows OpenAI to support the Pentagon through an agreement won late last month after the agency moved away from its existing provider, Anthropic.

 

IBM Completes $11 Billion Acquisition of Data Streaming Platform Confluent

 

IBM today announced the completion of its acquisition of Confluent, Inc., whose data streaming platform is utilized by over 6,500 enterprises, including 40% of the Fortune 500. Together, IBM and Confluent have created an intelligent data platform designed to provide real-time, trusted data for AI models and automated workflows across hybrid cloud environments. IBM acquired all outstanding shares of Confluent for $31 per share in cash, representing an enterprise value of approximately $11 billion.

 

Victory Capital Raises Acquisition Bid for Janus Henderson

 

Victory Capital has submitted an improved proposal to acquire Janus Henderson Group, offering $40 in cash plus 0.250 Victory shares per Janus share. The offer values Janus Henderson at $56.84 per share—a $3.26 increase over its previous bid and a 37% premium over the unaffected stock price. Victory Capital noted its bid is $1.2 billion higher than the proposal submitted by Trian.

 

Honeywell Expects Middle East Conflict to Hit Q1 Revenue

 

Honeywell anticipates that the conflict in the Middle East could impact first-quarter revenue by a high single-digit percentage. This serves as an early indicator of how the conflict is affecting corporate earnings beyond the aviation and energy sectors. Despite this, the industrial giant remains confident in its 2026 outlook, projecting full-year sales between $38.8 billion and $39.8 billion.

Forex & Commodities

International oil prices rose on March 17.

 

By the close, WTI crude oil futures rose $2.52, or 2.70%, to settle at $96.02 per barrel. COMEX gold futures gained $9.10, or 0.18%, to $5,011.3 per ounce.

 

COMEX silver futures fell $1.22, or 1.51%, to $79.46 per ounce. Spot gold edged down $0.80 to $5,005.75 per ounce, and spot silver fell 1.80% to $79.3 per ounce.

Key Events

Inflation Anxiety Spikes: RBA Strikes First in "Super Week"

 

The Reserve Bank of Australia (RBA) raised its cash rate by 25 basis points for the second time in just two months, citing the impact of the Middle East war on inflation expectations.

 

The RBA raised the target rate to 4.10% in a 5-4 split vote, setting a hawkish tone for a week filled with major central bank meetings.

Cryptocurrency

Cryptocurrency markets saw broad negative momentum over the last 24 hours. Bitcoin (BTC) is currently trading at $73,856.49 (-1.79%), while Ethereum (ETH) fell 1.30% to $2,323.95.

 

Other Notable Performances:

• TRON (TRX): $0.3085 (+4.42%)
• Hyperliquid (HYPE): $41.13 (+1.87%)
• Dogecoin (DOGE): $0.1001 (-2.68%)

Key Events

Bitcoin Emerges as Unexpected "Safe Haven" Amid Iran War Shock

 

Since the outbreak of the Iran war, Bitcoin has shown remarkable resilience, partly due to market timing. Spot Bitcoin ETFs in the U.S. have attracted roughly $1.5 billion in inflows this month.

 

Markus Thielen, Head of Research at 10x Research, noted that recent bullish signals stem from traders closing out short positions (options betting on a drop below $55k-$60k), forcing market makers to buy Bitcoin to rebalance exposure. Deribit data shows concentrated put options near $60,000 and call options totaling $1.3 billion near $75,000.