“AI is not just a tool. It’s a fundamental force that will reshape every industry.” ✍️

— Jensen Huang (Nvidia’s CEO)

✅ Markets began the week on a positive note as WTI crude edged lower to around $95 per barrel amid hopes that oil supply through the critical Strait of Hormuz could improve.

✅ Wall Street is keeping a close watch on developments in the Strait of Hormuz as the Middle East conflict enters its third week. Treasury Secretary Scott Bessent told CNBC that the U.S. is allowing Iranian oil tankers to transit the Strait.

✅ Elizabeth Warren is demanding answers from major corporations including Amazon, Microsoft, and Meta Platforms about recent layoffs despite receiving significant tax benefits under the 2025 One Big Beautiful Bill Act.

✅ Apple has acquired video editing startup MotionVFX to strengthen its creative software ecosystem and support growth in its subscription services, including its new Creator Studio bundle built around Final Cut Pro.

✅ At its annual Nvidia GTC, Nvidia is expected to unveil new AI hardware, software platforms, and potential laptop CPUs as CEO Jensen Huang outlines the company’s strategy for the next phase of artificial intelligence development.

✅ Shares of Nebius jumped after the company signed a $27 billion AI infrastructure deal with Meta Platforms, highlighting surging demand for cloud computing capacity as tech giants ramp up spending on AI

MARKET SNAPSHOT

↗ Dow                          46,946.41                     + 0.83%
↗ Nasdaq                     22,374.18                     + 1.22%
↗ S&P                            6,699.38                     + 1.01%

U.S. Allowing Iranian Oil Tankers Through the Strait of Hormuz, Treasury Secretary Says

The United States is allowing Iranian oil tankers to pass through the Strait of Hormuz to help maintain global energy supplies, according to U.S. Treasury Secretary Scott Bessent.

Speaking in an interview with CNBC, Bessent said Iranian ships have continued to transit the critical waterway and the U.S. has allowed it to happen to ensure the world remains adequately supplied with oil.

Traffic through the strait has dropped sharply as Iran attacks commercial vessels in the Persian Gulf. Despite the disruptions and a significant U.S. Navy presence in the region, Iran has continued exporting oil through the narrow shipping route.

Iran currently exports roughly 1.5 million barrels of oil per day, much of it through the Strait of Hormuz.

Bessent said the Trump administration expects tanker traffic to gradually increase before U.S. and allied naval forces begin escorting commercial ships through the waterway.

Some tankers supplying India have already passed through the strait, while U.S. officials believe Chinese vessels are also managing to exit the Gulf.

India is reportedly awaiting confirmation from Iran that 22 additional ships carrying crude oil, liquefied petroleum gas, and liquefied natural gas will be permitted to transit the strait.

The Strait of Hormuz is the world’s most important oil shipping route, carrying roughly 20% of global oil supply before the conflict began.

The war involving Donald Trump’s administration, Israel, and Iran has caused one of the largest oil supply disruptions in history, according to the International Energy Agency. Global oil supplies could fall by about 8 million barrels per day this month, the agency estimates.

Oil prices have surged roughly 40% since the conflict began two weeks ago.

Brent crude oil is trading near $102 per barrel. West Texas Intermediate crude oil is around $95 per barrel.

Bessent said he expects oil prices to drop “much lower” than $80 per barrel once the conflict ends and global supply normalizes. Bessent also dismissed speculation that the administration might intervene directly in oil futures markets.

“We haven’t done that,” Bessent said, adding that it is unclear what authority the U.S. would have to take such action.

Elizabeth Warren Questions Major Companies Over Layoffs After Tax Breaks

Sen. Elizabeth Warren is pressing several major U.S. corporations to explain recent layoffs despite receiving significant tax benefits.

In letters sent Sunday, the Massachusetts Democrat asked executives at Amazon, Target, UPS, Microsoft, Home Depot, Meta Platforms, Nike, and Verizon to provide details about their recent workforce reductions.

Warren requested that the companies explain how much they benefited from the 2025 tax cuts enacted under the One Big Beautiful Bill Act, and whether those benefits played any role in their employment decisions. The companies were also asked to disclose whether they expect tariff refunds or made contributions to projects connected to the Trump administration.

The senator gave the companies until March 30 to respond.

Together, the companies have eliminated tens of thousands of jobs in recent months. Warren warned that workers who lose their positions now face a particularly challenging labor market.

Although overall layoffs remain historically low, job seekers are encountering fewer new job openings, lower voluntary turnover, and intense competition for available positions, including entry-level roles.

Warren argued that the timing of layoffs is concerning given that many corporations received significant tax benefits last year while also posting strong profits.

One example cited in the letters involves Meta Platforms, which reportedly paid an effective federal tax rate of just over 3.5% in 2025, its lowest since going public as Facebook in 2012, according to analysis by the Institute on Taxation and Economic Policy.

At the same time, reports suggest Meta may cut up to 20% of its workforce, according to Reuters.

In a letter to CEO Mark Zuckerberg, Warren wrote that layoffs following major tax breaks and record profits raise questions about whether companies are prioritizing cost-cutting over workers.

A spokesperson for Meta said the senator’s letter was based on speculative reporting about potential workforce changes. Other companies contacted for comment did not immediately respond.

Corporate explanations for layoffs vary. Some companies cite productivity gains from artificial intelligence, while analysts also point to corporate restructuring, efficiency efforts, or cost reductions.

Apple Acquires MotionVFX to Strengthen Creator Tools and Subscription Business

Apple has acquired video editing company MotionVFX, a developer of visual effects, templates, and plugins designed for Apple’s Final Cut Pro editing platform.

The Polish startup confirmed the deal on Monday, saying it is joining Apple to continue building tools that help creators and editors produce professional-quality video content.

The acquisition is expected to enhance Apple’s creative software ecosystem and support growth in its subscription-based services. Apple did not disclose the financial terms of the deal.

Founded in 2009, MotionVFX develops editing tools and visual effects packages for Final Cut Pro, with subscription plans starting at about $29 per month. By bringing the technology in-house, Apple can integrate these features directly into its editing software rather than relying on third-party plugins.

The move could also help Apple compete more directly with Adobe Premiere Pro and the broader Adobe Creative Cloud suite, which dominate the professional creative software market.

Strengthening its video editing tools may also help Apple attract more users to its recently launched Creator Studio subscription bundle.

Introduced in January, the bundle packages creative tools—including Final Cut Pro—into a subscription priced at $12.99 per month or $129 per year.

The deal reflects Apple’s long-standing strategy of acquiring smaller companies for their technology and talent rather than pursuing large acquisitions.

It also highlights Apple’s broader push to expand its high-margin services business, which includes subscriptions such as iCloud and Apple Music, as the company looks to reduce its reliance on hardware sales like the iPhone.

Nvidia GTC 2026: What to Expect from Nvidia’s Biggest Event of the Year

Nvidia’s annual GTC conference kicked off on Monday in San Jose, with CEO Jensen Huang delivering the keynote at 2 p.m. ET. The presentation outlined Nvidia’s technology roadmap and major product updates for the year ahead.

Huang’s keynotes are known for unveiling a wide range of new hardware and software announcements, and this year’s event is expected to highlight Nvidia’s next phase of AI innovation as the industry shifts from training models to running them in real-world applications.

One of the most closely watched topics will be Nvidia’s strategy around AI inference, the process of running trained models to generate results.

Over the past year, Nvidia signed a nonexclusive agreement with Groq, a startup that designs specialized chips called language processing units (LPUs). The company claims its processors can run large AI models up to 10 times more efficiently than traditional GPUs.

GTC is Nvidia’s most important event of the year and often sets the tone for the company’s AI strategy. Investors and developers will be watching closely for announcements around:

-New AI chips or inference hardware

-Laptop CPUs for Windows devices

-Expanded AI software platforms and agent tools

-Advances in robotics and physical AI

Shares of Nebius surged about 14% after the company announced a major long-term AI infrastructure agreement with Meta Platforms worth up to $27 billion.

Under the five-year deal, Nebius will provide $12 billion in dedicated computing capacity across several locations, including one of the first large-scale deployments of Nvidia’s next-generation Nvidia Vera Rubin AI chips.

Meta has also committed to purchasing up to $15 billion in additional compute capacity, bringing the potential total value of the partnership to $27 billion.

Netherlands-based Nebius has quickly become a prominent European player in the fast-growing AI cloud computing market. The company’s stock has surged more than 400% since its 2024 listing in New York.Nebius founder and CEO Arkady Volozh said the agreement strengthens the company’s strategy of securing large, long-term contracts to expand its AI cloud business.

The deal comes as major technology companies race to build the infrastructure required to support the AI boom.

Meta expects to spend between $115 billion and $135 billion on AI-related capital expenditures this year. Combined spending from hyperscalers—including **Amazon, Alphabet, and Microsoft—could reach roughly $700 billion.

Investor demand for AI infrastructure companies has surged alongside the rapid expansion of generative AI. Recently, U.K.-based startup Nscale raised $2 billion at a $14.6 billion valuation, with backing from Nvidia.

Nvidia also announced a $2 billion investment in Nebius, helping push the company’s shares higher. Nebius was created in 2022 following the restructuring of international assets from Russian tech company Yandex and went public in New York in 2024.

The company’s stock rose more than 200% in 2025 and is already up about 35% so far in 2026.

Nebius has also secured other major contracts, including a five-year deal worth up to $19.4 billion with Microsoft to supply AI computing resources.

📉 ON THE MOVE AND NOTABLES 📈

✔️ For last week, the Dow Jones Industrial Average fell 0.26%, the S&P 500 declined 1.6%, and the Nasdaq Composite dropped 1.4%.

✔️ Over the weekend, President Trump called on U.S. allies to send warships to escort tankers through the channel, although no countries have yet committed support.

✔️ Lower oil prices were offering relief to bond markets, which have struggled in recent weeks. A rally across the Treasury curve has pushed U.S. government bond yields roughly 6 basis points (0.06%) lower.

✔️ The U.S. dollar—recently supported by geopolitical tensions— was slightly weaker on Monday as risk sentiment improves.

✔️ U.S. manufacturing continued its strong start to 2026 in February, with output rising 0.2% month-over-month following an upwardly revised 0.8% gain in January. This aligns with improving survey data, including the ISM manufacturing PMI, which points to renewed expansion in a sector that faced significant uncertainty from trade policy last year.

✔️ Meta rose after a Reuters report suggested the company’s workforce could shrink by as much as 20% as it works to offset heavy spending on AI and improve efficiency through automation. No timeline has been set for potential job cuts. Meta had approximately 79,000 employees as of December 31.

✔️ Nebius Group surged after announcing a five-year agreement with Meta to supply AI infrastructure, providing $12 billion in dedicated capacity across multiple sites. The deal includes one of the first large-scale deployments of Nvidia’s Vera Rubin platform.

✔️ Nvidia gained ahead of its upcoming GTC conference, where the company is expected to unveil several hardware innovations, potentially including a new chip designed for AI inference—the process of generating results from trained models, according to Barron’s. Investors will also be watching for updates on supply conditions for key chip components and the potential impact of Middle East tensions on supply chains and power costs. Morgan Stanley reiterated its overweight rating on the stock.

✔️ Memory chip stocks outperformed during Friday’s otherwise weak tech session, led by a 7% jump in SanDisk and nearly a 5% gain in Micron. The move may reflect positioning ahead of Micron’s earnings release scheduled for Wednesday. Western Digital also moved higher. Separately, Micron announced plans to build a new semiconductor facility in Taiwan, Reuters reported.

✔️ Dollar Tree stock rose after the discount store operator reported an earnings beat but more cautious guidance than the Street expected.

✔️ Other semiconductor names were higher in trading on Monday, including a gain for Intel and a rise for Advanced Micro Devices. The gains followed a Reuters report that the U.S. Commerce Department has withdrawn a draft rule that would have revised export controls on AI chips, signaling a potential shift in the administration’s approach as it weighs restrictions against maintaining U.S. leadership in AI.

✔️ Major Chinese stock indexes climbed more than 1% on Monday after stronger-than-expected economic data. Industrial production rose 6.3% year over year in February, beating forecasts, while retail sales increased 2.8% annually, also above expectations.

✔️ Bitcoin jumped, signaling a potential return of risk-on sentiment, with crypto-related equities also moving higher. Bitcoin advanced to nearly a six-week high as investors returned to riskier assets on optimism that market turmoil tied to the Middle East conflict may be starting to ease.

💲What Else to Watch This Week💲

The Federal Reserve meets on Wednesday amid uncertainty surrounding the outlook for oil prices and the potential for near-term inflation pressures. Markets have responded to the recent spike in oil prices by scaling back expectations for rate cuts, with current pricing implying just one 25-basis-point cut later this year. This aligns with the projections released by FOMC members in December.

🟢 Tuesday (Mar. 17): Building Permits, Housing Starts, NAHB Housing Market Index, Pending Home Sales. Earnings from Academy Sports and Outdoors Inc. (ASO), Alour Lifestyle Holdings Ltd. (ATAT), Corporacion America Airports SA (CAAP), DocuSign Inc. (DOCU), Elbit Systems Ltd. (ESLT), GDS Holdings Ltd. (GDS), Lululemon Athletica Inc. (LULU), New Gold Inc. (NGD), Oklo Inc. (OKLO), Tencent Music Entertainment Group (TME).

🟢 Wednesday (Mar. 18): Federal Open Market Committee (FOMC) Rate Decision, Producer Price Index (PPI), EIA Crude Oil Inventories, Mortgage Applications Index, Net Long-Term TIC, BOJ starts two-day Monetary Policy Meeting. Earnings from Dlocal Ltd. (DLO), Equipmentshare.com Inc. (EQPT), Five Below Inc. (FIVE), General Mills Inc. (GIS), H World Group Ltd. (HTHT), Jabil Inc. (JBL), Macy's Inc. (M), Micron Technology Inc. (MU), Williams-Sonoma Inc. (WSM).

🟢 Thursday (Mar. 19): ECB Governing Council monetary policy meeting, Continuing Claims, EIA Natural Gas Inventories, Initial Claims, New Home Sales, Philadelphia Fed Index, Wholesale Inventories. Earnings from Accenture PLC (ACN), Alibaba Group Holding Ltd. (BABA), Carnival Corp. (CCL), Darden Restaurants Inc. (DRI), Erasca Inc. (ERAS), FedEx Corp. (FDX), PDD Holdings Inc. (PDD), Planet Labs (PL), Signet Jewelers Ltd. (SIG).

🟢 Friday (Mar. 20): no reports. Earnings from SANUWAVE Health Inc. (SNWV), Xpeng Inc. (XPEV).

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