- February ISM Services: The index surged to 56.1 points (the highest level since mid-2022), significantly exceeding expectations. Crucially, the Prices Paid sub-index dropped to its lowest level in nearly a year, suggesting a cooling of inflationary pressures in the services sector. This decline stood in stark contrast to the price sub-index recently reported in the ISM Manufacturing report.
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Labor Market (ADP): Private payrolls added 63,000 jobs in February, the strongest performance since July 2025 and a signal of resilience ahead of Friday’s official NFP report.
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Wall Street Reaction: The US100 rose by 1.8% and the US500 by 1%, recouping most of the previous session's losses. Robust economic fundamentals outweighed geopolitical anxieties, bolstered by emerging hopes that the conflict may not be as protracted as Donald Trump suggested, who recently predicted it could last several weeks.
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Oil Price Retracement: WTI crude edged up by approximately 0.2% to around $75 per barrel, paring earlier gains, while Brent crude fell by about 0.3%. Investors are beginning to weigh the possibility of a shorter conflict. Conversely, Iran claimed it has already targeted 10 tankers and intends to fire upon any vessel, regardless of its flag, that supports Israel.
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Military Developments: US Defense Secretary Pete Hegseth announced that the US and Israel are on the verge of achieving total air superiority over Iran, facilitating strikes deeper into the country.
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Diplomatic Signals: Iran denied reports of any attempts to negotiate an end to the war with the US, a move that is maintaining high volatility across the commodities complex.
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US Inventories: Data showed another significant build in crude oil inventories, coupled with a decline in gasoline stocks, indicating that fuel demand remains robust.
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Bitcoin Breaches $73,000: The cryptocurrency reached new local highs, driven by improving sentiment and renewed political backing.
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Trump’s Support: Donald Trump publicly criticized banks for stifling crypto innovation (particularly stablecoins) and threw his weight behind the Clarity Act.
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Crypto Equities Rally:
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Coinbase (COIN): Surged over 14% following a private meeting between CEO Brian Armstrong and President Trump.
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MicroStrategy (MSTR): Gained 11%, riding the momentum of Bitcoin’s resurgence.
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Circle (CRCL): Rose nearly 3.5% on optimism regarding the regulation of the stablecoin market.
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Broadcom (AVGO) Outlook: Investors await Broadcom’s earnings report after the closing bell with a mix of trepidation and hope. The company serves as a critical barometer for AI chip demand beyond Nvidia. Expectations are elevated, particularly following comments from billionaire Leo KoGuan, who stated that "AI is not a bubble, it is only the beginning," which lifted the semiconductor sector today (Nvidia +1.1%).
📀Coinbase and MicroStrategy surge as Trump challenges Wall Street banks
Iran: Situation overview and outlook
US OPEN: Wall Street buoyed by robust data and shifting sentiment
BREAKING: Another strong increase of oil inventories. Oil WTI close to 74
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