Oil soars above $100 as Iran war forces more production cuts

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Here's a summary of the DailyEdge by TradeZero:

S&P 500

  • 6,740.02 (−90.69, 1.33%)

Dow Jones

  • 47,501.55 (−453.19, 0.95%)

NASDAQ

  • 22,387.68 (−361.31, 1.59%)

The Week Ahead

  • Oil soars above $100 as Middle East war (US and Israeli strikes on Iran) forces production cuts.
  • Strait of Hormuz tanker traffic standstill chokes off supplies.
  • Brent traded 11% higher around $103, easing from almost $120.
  • G7 finance ministers to discuss coordinated emergency oil stockpiles release.
  • Conflict fuels fears of an inflation crisis.

EdgeUp

  • Hims & Hers stock rockets: Jumped nearly 50% on reported partnership with Novo Nordisk for weight loss drugs.
  • Micron technology stock week ahead: 6.7% slide on Friday after US posted a surprise loss of 92,000 jobs in February. March 18 earnings and AI demand (high bandwidth memory, HBM) in focus. Sector bullish momentum continues with Marvell and Broadcom forecasting strong growth in AI chips.
  • Starfighters space drops 5% overnight: Fuel cost fears offset defense demand amid US-Iran war. Spiking Brent and WTI crude prices negatively impact operational profitability for aviation sector.
  • Dow, S&P 500, Nasdaq futures tumble: Tumbled due to oil prices surging past $100 a barrel amid Middle East conflict fears. Futures trimming losses on hopes for supply easing. Kuwait confirmed production cuts, Iraqi output plunged ~70%.
  • Shopify stock could rally 15% more: Analyst sees boost from OpenAI's ChatGPT checkout rollback, steering customers/merchants towards Shopify.

Trading Strategies

  • Process Over Prediction in a Sideways Market: Focus on disciplined execution, defined risk, and patience in sideways markets. Size positions appropriately and define invalidation levels before trading.

Top 5 Movers In Early Pre-Market

  • XENE: Xenon Pharmaceuticals Inc. (+43.73%)
  • HIMS: Hims & Hers Health, Inc. (+41.17%)
  • QURE: uniQure N.V. (+35.95%)
  • DNTH: Dianthus Therapeutics, Inc. (+25.60%)
  • AGH: Aureus Greenway Holdings Inc. (+25.41%)

Today’s Economic Dates

  • None scheduled

Friday’s Biggest Movers

  • EDSA: Edesa Biotech, Inc. (+80.61%) - no notable news.
  • CRE: Cre8 Enterprise Limited (+72.90%) - no notable news.
  • DAWN: Day One Biopharmaceuticals, Inc. (+65.88%) - Servier to acquire Day One for $2.5 billion in cash ($21.50 per share).

Today’s Notable Earnings

  • LFMD: LifeMD Q4 2025 (After Market Close) Estimate: $0.020
  • FCEL: FuelCell Energy Q1 2026 (Before Market Open) Estimate: -$0.930
  • CASY: Casey's General Stores Q3 2026 (After Market Close) Estimate: $2.990

Parting Thoughts

  • “Wide diversification is only required when investors do not understand what they are doing.” – Warren Buffett

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