Stocks began the week on a positive note, rebounding from three consecutive weeks of losses as investors took advantage of lower prices. This optimistic trend in the equity markets occurred concurrently with a notable decline in oil prices. West Texas Intermediate (WTI) crude futures fell 5.3%, closing at $95.50 per barrel. The dip came in the wake of President Donald Trump’s recent comments, urging U.S. allies to assist in securing maritime traffic through the strategically significant Strait of Hormuz. On his Truth Social platform, Trump emphasized the need for countries reliant on oil from this route to take responsibility, while assuring that the U.S. would coordinate efforts to ensure smooth passage.
As the March Federal Reserve meeting approaches, gas prices are set to be a major topic of discussion. Economists anticipate that the Fed will likely keep interest rates steady, although concerns surrounding rising energy prices potentially stoking inflation are shifting market expectations regarding future rate cuts. Current forecasts suggest that any cut may not occur until September 2026, a delay from previous predictions pointing to June.
On Wall Street, major indexes enjoyed gains with the Dow Jones Industrial Average climbing 0.8% to reach 46,946, the S&P 500 up 1.0% to 6,699, and the Nasdaq Composite rising 1.2% to 22,374. Key stocks like Nvidia saw significant movement, with shares rising 1.7% upon the commencement of the annual GTC 2026 conference, where CEO Jensen Huang emphasized advancements in artificial intelligence and the upcoming release of DLSS 5 technology.
Sherwin-Williams also experienced a boost, increasing by 0.9% following a note from Argus Research indicating that recent price declines present a buying opportunity. The paint company’s shares had suffered a drop of over 13% in the past month due to lackluster demand in the housing market. However, analyst Alexandra Yates believes Sherwin-Williams is well-positioned for a rebound, especially as market conditions improve.
Meta Platforms saw an uptick of 2.3% amid reports that it may lay off more than 15,000 employees, representing over 20% of its global workforce, as it reallocates resources toward AI initiatives. Although Meta described the layoffs as speculative, analysts have noted that cost-cutting measures typically resonate positively with investors. Additionally, the tech giant announced a long-term partnership with AI cloud provider Nebius, which could be worth up to $27 billion, providing it with substantial cloud computing capacity over the next five years.
