The Day Ahead

• COMING UP IN U.S. - WEEK AHEAD

  • U.S. Federal Reserve's Federal Open Market Committee (FOMC) two-day meeting on interest rates begins Tuesday.
  • Policy statement expected Wednesday, rates likely unchanged at 3.5%–3.75%.
  • Wednesday: Producer prices (PPI) data for February likely up 0.3%, annual unchanged at 2.9%; factory orders for January likely rose 0.2%.
  • Thursday: Initial jobless claims for week ended March 14; continued jobless claims for week ended March 7; Philadelphia Fed business index likely 11 for March.
  • Thursday: New home sales for January likely fell to 0.72 million units.
  • Tuesday: Pending home sales data for February due.
  • Thursday: Wholesale data expected.

• U.S. TOP NEWS

  • Nvidia to focus on competition-beating AI advances at megaconference.
  • Adobe shares drop as CEO exit creates uncertainty over AI strategy.
  • Starbucks warned by shareholder proxy firms about neglecting labor dispute risks.
  • Ulta Beauty slumps as rising costs hit margins; new CEO focuses on TikTok push.
  • EXCLUSIVE: SpaceX taps Gibson Dunn and Davis Polk & Wardwell as legal advisors for its IPO.

• MARKET RECAP AT 4 pm ET

  • Wall Street lower as investors monitored Iran war; Brent crude crossed $100.
  • Treasury yields mixed after PCE index met expectations.
  • Gold prices slipped, pressured by a stronger dollar.