Overview
The U.S. stock market was mixed today as investor sentiment was dampened by conflicting reports regarding the Strait of Hormuz. Initially, the market lost its early gains and closed slightly lower. Concerns over Iran reached their peak, and crude oil, which had soared to nearly $120 per barrel on Monday, fell as major nations were expected to release emergency reserves to ease supply concerns. The drop in oil prices was further exacerbated when the U.S. Department of Energy's social media post about Navy escorts for oil tankers was found to be deleted, leading to a slight rebound in oil prices. The stock market was affected as the White House confirmed that no such escort had occurred.
| Nasdaq Composite | S&P 500 |
| Dow Jones Industrial Average | 1 South Korean won equals |
A Major News Story
The tensions in the Strait of Hormuz pressured the stock market. The U.S. Department of Energy's social media post, which was deleted, added to the confusion among investors. The White House later confirmed that no Navy escorts had occurred. With energy price volatility and the anticipation of the CPI release, the S&P 500 index closed down 0.2%. Meanwhile, Oracle soared in after-hours trading on positive sales forecasts. Investors are now preparing for the upcoming inflation data. Last month's CPI is expected to have risen only 0.2%, indicating some easing of inflation pressures prior to the Iran conflict.
Tomorrow's Economic Indicators
| Time | Details |
| 21:00 | U.S. MBA Mortgage Applications |
| 20:30 | U.S. February Trade Balance |
| 22:30 | U.S. February CPI Rate |
| 00:00 | U.S. 10-Year Treasury Auction |
| 02:00 | U.S. February Federal Budget |
A General Opinion
With heightened tensions in the Strait of Hormuz and fluctuating energy prices, investors are keenly watching the upcoming inflation data. The uncertainty is increasing, and economic indicators are expected to play a critical role in future interest rate decisions. Additionally, President Trump's strong stance on Iran will be an important factor to monitor.
