Top News

1. Palantir Joins S&P 100, Stock Up 60% Since Trump Win
2. Volatility Traders Profit From Trump's Market Turmoil
3. Dimon, Buffett Moves Before Market Crash

I. Market Report

Stock futures dropped on Monday as the selling pressures that dragged Wall Street last week persisted, while investors braced for a slew of economic data reports this week.

As of 08:10 AM, ET (or 03:10 PM in Riyadh), futures tied to the Dow Jones Industrial Average slipped 477 points, or 1.11%. S&P 500 futures fell 1.37%, while Nasdaq 100 futures dropped 1.6%.

Here are some stocks moving in pre-market trading as of 02:50 PM Riyadh Time.

II. Flash Headlines

Fed May Cut Rates, Treasury Yields to Fall - Mizuho

Mizuho Securities expects the Federal Reserve to cut interest rates again, causing US Treasury yields to decline further, putting pressure on the yield curve and stimulating carry trades, says senior bond strategist Hidehiro Joke.

US Near Recession, Buy Long-term Bonds

Bank of America (BAC) strategist warns US is "one step away from recession," recommends buying 30-year US bonds, selling UK, EU, Japanese bonds; optimistic about Chinese and European stocks. 

Bitcoin Drops Amid US Regulatory Uncertainty

Bitcoin prices fell due to US regulatory uncertainty and general risk aversion. A White House summit failed to clarify President Trump's regulatory plans. Market also concerned about global trade tensions and potential US economic weakness. Bitcoin hit a one-week low of US$80,085.

Volatility Traders Profit From Trump's Market Turmoil

Volatility traders are benefiting from Trump's trade war causing market turmoil, with one trader's income up 80% this year. Long-term investors suffer, with S&P 500 down 6% in two weeks. The CBOE Volatility Index (VIX) hit 26 points last week, a level unseen since COVID-19.

Wall Street Losses Threaten US Economy

Wall Street traders suffered biggest cross-asset losses since 2023 peak tightening. Market gains crucial for US consumer spending, with stocks accounting for 64% of household assets. Declines could hurt economy if they continue.

III. Stocks To Watch

Oracle Q3 Report & Stargate Focus

Oracle Corporation(ORCL.US)  to announce Q3 results Monday after market close. Expected sales: US$14.4B (+8% YoY), EPS: US$1.49 (+6% YoY). Investors await updates on AI project Stargate, seen as potentially game-changing. UBS, Jefferies maintain 'buy' ratings with target prices of US$210, US$220 respectively.

Palantir Joins S&P 100, Stock Up 60% Since Trump Win

Palantir Technologies(PLTR.US)  joins S&P 100, replacing Dow Inc (DOW), on Mar. 24. Shares have surged nearly 60% to US$84.82 since Trump's victory, driven by AI capabilities and CEO support for govt initiatives.

Tesla Q1 Delivery Shortfall Reason Revealed

Tesla Motors, Inc.(TSLA.US)  first-quarter delivery shortfall was due to buyers delaying Model Y purchases for the refreshed version, not Elon Musk's political comments and DOGE spending cutbacks, according to Tesla bull Gary Black. 

DoorDash Joins S&P 500

DoorDash, Inc. Class A(DASH.US)  shares jump 5% pre-market as it joins S&P 500 index on March 24. TKO Group Holdings, Williams-Sonoma, Expand Energy also added; Warner, Teleflex Medical, Celanese, FMC removed. 

Dimon, Buffett Moves Before Market Crash

JP Morgan CEO Jamie Dimon sold $234 million worth of JPMorgan Chase & Co.(JPM.US)  stock on Feb 20, according to SEC filings. Days later, Warren Buffett‘s Berkshire Hathaway (NYSE:BRK) (NYSE:BRK) announced a record $334 billion cash balance, suggesting potential caution about market valuations. Over the next 18 days following these moves, the Nasdaq 100 crashed 8.83%, with JPM stock falling over 9.63% in the same period.

IV. Calendar

Day's Notable Event(s):