NextFin News - Thursday morning snapshot of global markets, macro events and U.S. equities in focus ahead of the opening bell.
Pre‑Market Performance
- U.S. index futures
- Nasdaq‑100 (NQ): 25,072.8, −55.5 pts (−0.22%).
- S&P 500 (ES): 6,863.5, −12.5 pts (−0.18%).
- Dow Jones (YM): 48,583, −213 pts (−0.44%).
- Europe (mid‑session)
- FTSE 100: 10,551.65 (−0.15%).
- CAC 40: 8,154.52 (−0.16%).
- DAX: 24,172.75 (−0.13%).
- Commodities and FX
- Brent crude near $82/bbl; WTI near $75/bbl as Middle East supply risks keep prices elevated. Brent has climbed roughly 10–12% since the conflict escalated earlier this week. The Guardian, ICIS, Reuters via Spokesman
- Gold holding above $5,100/oz after spiking as high as ~$5,420/oz earlier in the week on safe‑haven demand. MoneyWeek
- U.S. Dollar Index (DXY) ~98.9, modestly softer in early trade. VietBao
Macroeconomic Policy and Data
- Labor market
- ADP private payrolls (February): +63,000 (consensus range roughly +50k–70k); January revised lower. The print points to still‑slow but steady hiring ahead of Friday’s nonfarm payrolls. Yahoo/Reuters, Sahm Capital (Reuters brief)
- Initial jobless claims (week ending Feb 28) due 8:30 a.m. ET: consensus 215k vs. prior 212k. The Rio Times (calendar), AP (recent level)
- Federal Reserve and policy
- White House formally nominated former Fed Governor Kevin Warsh to succeed Jerome Powell as Fed Chair; the nomination introduces uncertainty around the near‑term rate path and balance sheet strategy. AP
- Fed Governor Christopher Waller last week called a March rate cut a “coin flip” after firm January jobs data, reinforcing a wait‑and‑see posture. AP
- Potential market impact: A steadier‑for‑longer Fed stance, alongside oil’s rebound, could nudge near‑term inflation expectations higher and keep front‑end yields supported, a headwind for long‑duration equities. Conversely, any cooler labor prints (claims/NFP) would likely revive cut expectations and support multiples.
Hot News
- Oil shocks from Middle East conflict — Disruptions around the Strait of Hormuz continue to push crude higher, widening the Brent–WTI spread and stoking inflation worries across regions. The Guardian, Reuters via Spokesman
- Big Tech backs White House "Ratepayer Protection Pledge" — Microsoft, Amazon, Alphabet and others agreed to measures aimed at shielding consumers from AI data‑center power costs; analysts note the pledge is non‑binding and grid constraints remain a risk. AP, Washington Post, Axios
- Airlines steady as flights trickle back in Middle East — Select departures have resumed, helping airline shares stabilize after this week’s selloff tied to oil and route disruptions. Reuters via WTAQ
- Asia equities rebound while oil, gold stay firm — Relief buying in Asia contrasts with persistent strength in energy and safe‑haven metals, keeping cross‑asset volatility elevated. EconoTimes
U.S. Stock Focus
- Apple (AAPL) — Apple unveils $599 MacBook Neo and iPhone 17e. Apple introduced the MacBook Neo on March 4 targeting entry‑level buyers, following the March 2 debut of iPhone 17e with 256GB base storage and MagSafe; the push broadens Apple’s price ladder and could pressure Windows OEMs. Apple Newsroom, Apple Newsroom
- Broadcom (AVGO) — Beat and raise on AI strength. Q1 FY26 revenue rose ~29% YoY to ~$19.3B with AI semiconductor sales surging; the company guided Q2 revenue to ~$22B and discussed buybacks after hours. Zacks
- Target (TGT) — $2B 2026 investment and footprint expansion. Target plans to invest more than $2B this year to refresh stores, staffing and experiences, and will open its 2,000th store on March 15 in North Carolina; over 30 new stores are planned for 2026. AP, Target IR
- Occidental Petroleum (OXY) — Debt‑management actions. Occidental announced early tender results and upsizing of cash tender offers for select senior notes and debentures as of March 4, reinforcing balance‑sheet optionality into a higher‑oil tape. GlobeNewswire
- United Airlines (UAL) — Shares stabilize as operations resume selectively. A trickle of Middle East flights has restarted, providing the group a modest sentiment lift after a fuel‑price‑driven selloff. Reuters via WTAQ
- Microsoft (MSFT) — Joins White House AI power‑cost pledge. Microsoft signed the "Ratepayer Protection Pledge," committing to measures to offset consumer electricity burdens from AI data centers. Washington Post, AP
- Amazon (AMZN) — AWS backs power‑cost pledge; footprint implications. Amazon participated in the pledge, with AWS emphasizing commitments to cover full energy costs and invest in power infrastructure for AI expansion. Yahoo/Politico summary
- Alphabet (GOOGL) — Energy affordability pledge and AI build‑out. Alphabet signed the pledge and emphasized affordability and grid‑capacity goals as capex remains elevated for data centers. Fox Business
- Meta Platforms (META) — Part of AI power‑cost accord. Meta joined peers in supporting the non‑binding pledge to mitigate consumer impacts of AI data‑center electricity use, with implementation details to be worked through with utilities and regulators. AP
What to Watch Today
- 8:30 a.m. ET: U.S. initial jobless claims (consensus 215k); any upside surprise alongside firm energy could revive stagflation chatter, while a downside surprise would likely ease near‑term rate fears. Calendar
- Energy/freight headlines tied to the Middle East; moves in the Brent–WTI spread and airline updates.
- Follow‑through on the White House AI data‑center pledge as utilities and hyperscalers outline concrete projects, permitting and on‑site power plans.
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