[US Stock Market Opening] Memory stocks rebound, Micron up 2%; Dow Jones rises 101 points, Nasdaq up 0.3%; oil prices give back 8% (updating continuously)

U.S. stocks opened steadily on Tuesday, with the Dow up 16 points at 47,756; the S&P 500 up 1 point at 6,796; and the Nasdaq up 60 points or 0.3% at 22,756. Brent crude oil fell 8% to $92 per barrel. Oracle (NYSE: ORCL) will release earnings after the market close.

Focus stocks continued to rebound, with memory chip stocks leading the charge. Micron (NASDAQ: MU) rose 2%, reclaiming the $400 level; SanDisk (NASDAQ: SNDK) increased 3%, currently at $606.81.

The U.S. dollar index declined 0.4% to 98.68, losing the 99 level; U.S. long-term bond yields remained steady at 4.104%, hovering around 4.1%. Gold rebounded 2% amid no major shocks from the U.S.-Iran situation, trading at $5,220 per ounce.

Adam Hetts, Head of Global Multi-Asset Investment and Portfolio Manager at J.P. Morgan, and Oliver Blackbourn, Portfolio Manager, stated that disruptions in energy supply, rising oil and natural gas prices, and the lack of a clear cooling path are increasing inflation risks and causing heightened global market volatility. If the conflict persists, economic pressures could deepen; however, U.S. political considerations might quickly resolve the situation as a “victory” or rapid conclusion, leaving asset outlooks uncertain.

Hong Kong stocks and ADR markets are continuously updated. See the next page for details.

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Market Highlights:

【21:30】Memory stocks rebound; Micron up 2%; Dow up 101 points; Nasdaq up 0.3%; oil prices retrace 8%

【18:00】Dow futures up 101 points; Nasdaq futures up 0.3%; oil prices retrace 7%; Oracle (ORCL) earnings after close

【12:43】Dow futures down 183 points at 47,586; S&P 500 futures down 24 points at 6,777; Nasdaq futures down 84 points or 0.3% at 24,906

【12:09】Apple reduces reliance on China; India now accounts for 25% of iPhone production

【11:00】AI + Defense | Anthropic files lawsuit demanding the U.S. Department of Defense rescind blacklisting

【10:31】Iran crisis | Trump says the war will end soon; gold stabilizes and rebounds

【08:28】Iran crisis | Dozens of oil tankers reach the strait, Iran issues warnings again; Trump at press conference: Iran’s war will end soon but no timeline given (updating)

【08:26】AI + NVIDIA | Reports suggest NVIDIA plans to launch open-source AI platform “NemoClaw”

【08:00】Apple | Reports indicate delay in smart home display device launch, awaiting new Siri version

Below $1 for March 9 U.S. market overview====

Monday: Trump says the war is nearly over; oil prices plunge, Dow surges 239 points

U.S. President Trump told foreign media that the war is nearly over, describing it as very complete. Iran has no navy, no communications, no air force; their missiles are left with only a few scattered. Their drones are being destroyed everywhere, including their drone manufacturing plants.

See U.S. stock close:

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“If you look, they have nothing left. In military terms, there’s nothing remaining,” Trump said. The U.S. can do a lot in the Strait of Hormuz and warned Iran that blocking the waterway will have consequences. “They’ve shot all they can shoot; they’d better not play any tricks, or it will be the end of their country… If they do anything bad, it will be Iran’s end, and you will never hear that name again.” Trump also said the strait is currently open, claiming ships are entering, but he is still “considering taking control.”

That afternoon, the U.S. Department of Defense posted on X (formerly Twitter): “We are just getting started” and “We will not hold back.”

Following the comments, oil prices plummeted, and U.S. stocks turned higher. Brent crude fell 1.5% to $91.2; NYMEX crude dropped 3.4% to $88.

The Dow initially fell 886 points to 46,615; the S&P 500 dropped 1.5% to 6,636; Nasdaq fell 1.5% to 22,061.

By close, the Dow recovered 239 points to 47,740; the S&P 500 rose 0.8% to 6,795; the Nasdaq increased 1.4% to 22,695.

Brent crude oil initially surged nearly 30%, approaching $120 per barrel. The G7 finance ministers held an emergency meeting to discuss coordinated release of strategic petroleum reserves via the International Energy Agency (IEA) to address the spike after Gulf tensions.

French Finance Minister Roland Lescure said the G7 has not yet decided on releasing emergency oil reserves post-U.S.-Israel conflict.

After the Brussels G7 finance ministers’ online meeting, Lescure told reporters, “Our consensus is to use all necessary means to stabilize the market, including possible release of reserves.” He added that governments are closely monitoring the situation, with no supply issues reported in Europe or the U.S.

Japanese Finance Minister Shunichi Suzuki said, “The IEA has called on countries to coordinate the release of oil reserves. Given the current situation, the G7 has agreed to continue closely monitoring energy markets and take necessary measures, including releasing reserves.” He also mentioned that OECD, World Bank, and IMF officials participated in the meeting. The G7 will soon hold an energy ministers’ meeting to discuss further steps.

As of 2022 data, IEA member countries’ emergency oil reserves under government control in OECD countries are estimated at over 1.2 billion barrels, mostly crude oil. According to IEA regulations, all members must maintain emergency reserves equivalent to at least 90 days of net imports, ensuring at least three months of supply under normal consumption.

Market stabilized; the U.S. dollar index fell 0.1% to 98.877; 10-year U.S. Treasury yields declined slightly to 4.107%.

Gold’s decline narrowed to 0.6%, at $5,138; silver rose 2.5% to $86.63.

U.S. military continues to demonstrate force. According to BBC, U.S. B-52 and B-1 heavy bombers are stationed at Royal Air Force Fairford in the UK, with three B-52s landing in one day—the first appearance of B-52s in the UK since the conflict erupted.

B-52s are typical “forward-deployed” U.S. strategic bombers, signaling large-scale air campaigns or imminent escalation. As heavily armed “old yellow cows,” once enemy air defenses are weakened, B-52s can deliver large quantities of conventional ground-attack munitions, conducting sustained destructive strikes on infrastructure, industrial targets, or large ground forces.

Additionally, U.S. markets will open one hour earlier at 9:30 p.m. Hong Kong time due to daylight saving time.

Swiss UBS notes that the oil market has entered a panic state, with prices soaring into triple digits amid volatility. This appears mainly driven by market sentiment, as the conflict itself has not caused any substantial changes. So far, supply disruptions are mainly due to cautious ships avoiding the Strait of Hormuz, causing trade blockages rather than military blockades. However, it is expected that in the coming week and beyond, Middle Eastern oil supply could face up to 75% shutdown.

The bank said it will continue to monitor the situation closely. Currently, no significant damage to energy infrastructure has been reported, and Iran’s military strength seems to be waning. Solutions to ensure shipping through the Strait of Hormuz remain feasible. Given the fog of war, they reaffirm a neutral stance on oil and natural gas, maintaining the expectation that energy prices will peak at current or slightly higher levels.

Hong Kong stocks and ADR markets are continuously updated. See the next page for details.

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Market Highlights:

【18:20】Dow futures down 492 points; Nasdaq futures down 1.1%; oil surges over 10%, breaking $100; markets open one hour earlier for summer time

【12:07】Dow futures down 1,006 points at 46,511; S&P 500 futures down 130 points at 6,613; Nasdaq futures down 542 points or 2.2% at 24,127

【12:07】Iran crisis | Iran conflict impacts financial markets | Senior strategist Yardeni: U.S. stock market crash risk rises to 35% by year-end

【11:15】Tencent reportedly plans to acquire Warner Bros. via Paramount, investing hundreds of millions USD

【10:33】Iran crisis | Oil surges past $100, NYMEX crude up 30%; more Middle Eastern producers cut output

【10:20】Iran crisis | Oil prices spike, dragging down Asia-Pacific stocks; “Black Monday” in Japan and Korea, both down over 7%; South Korea reportedly considers oil price cap mechanism

【09:56】Iran crisis | JPMorgan estimates Middle Eastern oil capacity will decrease by 4 million barrels per day by next weekend

【09:50】Iran crisis | Schroders’ Alex Tedder: Oil may hit $100; “I won’t reduce energy stocks in the next two or three years”

【08:17】Iran crisis | Gold drops over 2%, testing $5,000; oil surge intensifies inflation fears

【07:30】Iran crisis | Black Monday begins; oil rises 20%, surpassing $111; Trump: small price to pay; Dow futures plunge 1,112 points (updating)

【07:30】Global outlook | Focus on Middle East conflict and U.S. inflation data; markets open one hour earlier for summer time

【07:30】Concerns over oil supply disruptions and worse-than-expected U.S. employment data caused last Friday’s sharp decline; Dow fell 945 points to 47,009; VIX volatility index surged 21.6% to 28.88. The Dow closed down 453 points; S&P 500 down 1.33%; Nasdaq down 1.59%.

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Last week’s U.S. stock movements, details at: 【Market Close】 Iran fires missiles at “Lincoln”; Brent exceeds $92; employment data weak; Dow drops 453 points; Nasdaq down 1.6%