{"id":24692,"date":"2025-03-18T15:08:02","date_gmt":"2025-03-18T20:08:02","guid":{"rendered":"https:\/\/www.eoption.com\/market-review-march-18-2025\/"},"modified":"2025-03-18T15:08:02","modified_gmt":"2025-03-18T20:08:02","slug":"market-review-march-18-2025","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/market-review-march-18-2025\/","title":{"rendered":"Market Review: March 18, 2025"},"content":{"rendered":"\n<div>\n<div style=\"padding:10mm 10mm 0\">\n<p class=\"normal\"><b><span style=\"font-size:20.0pt; color:#404040\">Closing Recap<\/span><\/b><\/p>\n<p class=\"normal\" style=\"line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:#7F7F7F\">Tuesday, March 18, 2025<\/span><\/b><\/p>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\" width=\"58%\" style=\"border-collapse:collapse; border:none; margin-left:6.75pt; margin-right:6.75pt\">\n<tbody>\n<tr style=\"height:19.65pt\">\n<td width=\"27%\" style=\"border:none; background:#F79646; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:22.5pt; text-indent:-13.5pt; line-height:115%\"><span style=\"font-size:14.0pt; line-height:115%; color:white\">Index<\/span><\/p>\n<\/td>\n<td width=\"34%\" style=\"border:none; background:#F79646; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:115%\"><span style=\"font-size:14.0pt; line-height:115%; color:white\">Up\/Down<\/span><\/p>\n<\/td>\n<td width=\"20%\" style=\"border:none; background:#F79646; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:115%\"><span style=\"font-size:14.0pt; line-height:115%; color:white\">%<\/span><\/p>\n<\/td>\n<td width=\"18%\" style=\"border:none; background:#F79646; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:115%\"><span style=\"font-size:14.0pt; line-height:115%; color:white\">Last<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"27%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:22.5pt; text-indent:-13.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">DJ Industrials<\/span><\/b><\/p>\n<\/td>\n<td width=\"34%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-260.32<\/span><\/p>\n<\/td>\n<td width=\"20%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">0.62%<\/span><\/p>\n<\/td>\n<td width=\"18%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">41,581<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"27%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:22.5pt; text-indent:-13.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">S&amp;P 500<\/span><\/b><\/p>\n<\/td>\n<td width=\"34%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-60.46<\/span><\/p>\n<\/td>\n<td width=\"20%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">1.07%<\/span><\/p>\n<\/td>\n<td width=\"18%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">5,614<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"27%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:22.5pt; text-indent:-13.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">Nasdaq<\/span><\/b><\/p>\n<\/td>\n<td width=\"34%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-304.55<\/span><\/p>\n<\/td>\n<td width=\"20%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">1.71%<\/span><\/p>\n<\/td>\n<td width=\"18%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">17,504<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"27%\" style=\"border:none; background:#DBE5F1; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:22.5pt; text-indent:-13.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">Russell 2000<\/span><\/b><\/p>\n<\/td>\n<td width=\"34%\" style=\"border:none; background:#DBE5F1; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-18.39<\/span><\/p>\n<\/td>\n<td width=\"20%\" style=\"border:none; background:#DBE5F1; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">0.89%<\/span><\/p>\n<\/td>\n<td width=\"18%\" style=\"border:none; background:#DBE5F1; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"margin-left:9.0pt; text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">2,049<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"normal\" style=\"margin-left:9.0pt\"><span style=\"font-size:11.5pt\">&nbsp;<\/span><\/p>\n<p class=\"body-copy\">U.S. stocks slumped on Tuesday, erasing Monday&rsquo;s advance as investors exhibit caution ahead of tomorrow&rsquo;s <span class='nt-symbol'>FOMC<\/span> central bank meeting while market uncertainty remains the biggest concern. Solid economic data (housing starts, import prices, industrial production) was overshadowed by a long list of uncertainties includes the specter of tariffs and their inflationary impact, geopolitical tensions and the wait for the outcome of the U.S. Federal Open Market Committee meeting, which started today (decision and updated economic projections will be tomorrow; no rate change expected). In technology, shares of the Mag7 names extending their 2025 pullback, with big drops again from <span class='nt-symbol'>TSLA<\/span>, <span class='nt-symbol'>GOOGL<\/span>, <span class='nt-symbol'>AMZN<\/span>, <span class='nt-symbol'>META<\/span>, and <span class='nt-symbol'>NVDA<\/span> which kicked off its weekly <span class='nt-symbol'>GTC<\/span> conference event today covering several product announcements, but without any exciting surprise fireworks to get the stock higher. Markets now await tomorrow&rsquo;s <span class='nt-symbol'>FOMC<\/span> policy meeting where the Fed will release a new policy statement at 2 p.m. et and though the central bank is expected to leave its benchmark overnight interest rate unchanged in the 4.25%-4.50% range, it will also issue new economic projections from policymakers.<\/p>\n<p class=\"body-copy\">&nbsp;<\/p>\n<p class=\"body-copy\">In Europe, Germany&#8217;s outgoing parliament passed a record increase in government borrowing, including a sweeping change to the country&#8217;s debt rules. Chancellor-in-waiting Friedrich Merz&#8217;s conservatives and the centre-left Social Democrats, currently in talks to form a government following last month&#8217;s election, had proposed a &euro;500BN fund for infrastructure and changes to borrowing rules to bolster defense and revive growth in Europe&#8217;s largest economy.<\/p>\n<p class=\"body-copy\">&nbsp;<\/p>\n<p class=\"body-copy\">Still several negative sentiment readings weighing: Fund-manager sentiment fell by the biggest amount in five years, dropping to a seven-month low in March, Bank of America&#8217;s latest monthly fund manager survey shows. The survey&#8217;s broadest measure of fund manager sentiment&#8211;based on cash levels, equity allocation and global growth expectations&#8211;fell to 3.8 in March from 6.4 in February. March&#8217;s decline is the largest since March 2020. However, sentiment is &#8220;nowhere near extreme bear.&#8221; Instead, it has retrenched from the &#8220;uber-bull&#8221; level of December 2024 to a more neutral level,<\/p>\n<div class=\"page-br mt-8\">\n<p class=\"subhead\">Economic Data<\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\">US February housing starts rise +11.2% to 1.501M unit rate above ests 1.38M and vs Jan -11.5% or 1.350M units; Feb housing permits fell -1.2% to 1.456M unit rate vs. est. 1.453M rate and vs Jan -0.6%. Feb single-family permits -0.2% to 992,000-unit rate; multifamily -3.1% to 464,000-unit rate<\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\">Feb import prices +0.4%, above consensus (-0.1%) and vs Jan +0.4% (prev +0.3%), while February export prices rose +0.1% vs. consensus (-0.2%) and vs Jan +1.3% (prev +1.3%); Feb year-over-year import prices +2.0%, export prices +2.1% and Feb non-petroleum import prices +0.4%, year-over-year +2.1%.<\/li>\n<li class=\"page-br\">February Industrial production rose +0.7%, topping consensus +0.2% and was above January +0.3%; Feb mining output +2.8%; Feb capacity utilization rate 78.2% above consensus 77.8% and vs Jan 77.7%; Feb manufacturing output +0.9% (consensus +0.3%) vs Jan +0.1% (previous -0.1%); cap use 77.0% vs Jan 76.4%.<\/li>\n<li class=\"page-br\">The Atlanta GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the first quarter of 2025 is -1.8% on March 18, up from -2.1% on March 17. After this morning\u2019s releases from the US Census Bureau, the US Bureau of Labor Statistics, and the Federal Reserve Board of Governors, the nowcast for first-quarter real gross private domestic investment growth increased from 7.2% to 9.1%. <\/li>\n<\/ul>\n<div class=\"page-br mt-8\">\n<p class=\"subhead\">Commodities<\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\">Gold climbed $34.70 or 1.15% to settle at $3,040.80 an ounce, another new all-time closing high while oil reversed earlier gains, snapping a 2-day win streak. Oil prices have been bouncing as geopolitical risks fuel supply concern. Israel launched the first large-scale attack on the Gaza Strip since the start of the cease fire, and U.S. President Trump on Monday suggested that he will hold Iran responsible for any attacks by Yemen&#8217;s Houthis. Renewed confidence in China&#8217;s recovery meanwhile is keeping demand expectations underpinned.<\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\">Treasury yields sunk this afternoon following strong demand for the $13B, 20-year bond auction at high yield 4.632%, with bid-to-cover ratio 2.78, as primary dealers take 8.81% of U.S. 20-year bond sale, direct 22.35% and indirect 68.84%. The 10-yr yield hit lows below 4.27% off earlier highs 4.34%.<\/li>\n<\/ul>\n<p class=\"normal\" style=\"margin-left:.25in; text-indent:-.25in\"><span style=\"font-size:11.5pt; color:#404040\">&nbsp;<\/span><\/p>\n<table border=\"1\" cellspacing=\"0\" cellpadding=\"0\" width=\"60%\" style=\"margin-left:5.4pt; border-collapse:collapse; border:none\">\n<tbody>\n<tr style=\"height:19.65pt\">\n<td width=\"38%\" style=\"border:none; background:#F79646; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:9.0pt; text-indent:-4.5pt; line-height:115%\"><span style=\"font-size:14.0pt; line-height:115%; color:white\">Macro<\/span><\/p>\n<\/td>\n<td width=\"35%\" style=\"border:none; background:#F79646; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:115%\"><span style=\"font-size:14.0pt; line-height:115%; color:white\">Up\/Down<\/span><\/p>\n<\/td>\n<td width=\"26%\" style=\"border:none; background:#F79646; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:115%\"><span style=\"font-size:14.0pt; line-height:115%; color:white\">Last<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"38%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:9.0pt; text-indent:-4.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">WTI Crude<\/span><\/b><\/p>\n<\/td>\n<td width=\"35%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-0.68<\/span><\/p>\n<\/td>\n<td width=\"26%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">66.90<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"38%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:9.0pt; text-indent:-4.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">Brent<\/span><\/b><\/p>\n<\/td>\n<td width=\"35%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-0.51<\/span><\/p>\n<\/td>\n<td width=\"26%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">70.56<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"38%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:9.0pt; text-indent:-4.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">Gold<\/span><\/b><\/p>\n<\/td>\n<td width=\"35%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:#00B050\">34.70<\/span><\/p>\n<\/td>\n<td width=\"26%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:#00B050\">3,040.80<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"38%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:9.0pt; text-indent:-4.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">EUR\/USD<\/span><\/b><\/p>\n<\/td>\n<td width=\"35%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:#00B050\">0.0024<\/span><\/p>\n<\/td>\n<td width=\"26%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:#00B050\">1.0945<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"38%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:9.0pt; text-indent:-4.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">JPY\/USD<\/span><\/b><\/p>\n<\/td>\n<td width=\"35%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-0.04<\/span><\/p>\n<\/td>\n<td width=\"26%\" style=\"border:none; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">149.17<\/span><\/p>\n<\/td>\n<\/tr>\n<tr style=\"height:19.65pt\">\n<td width=\"38%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" style=\"margin-left:9.0pt; text-indent:-4.5pt; line-height:11.0pt\"><b><span style=\"font-size:11.0pt; color:black\">10-Year Note<\/span><\/b><\/p>\n<\/td>\n<td width=\"35%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">-0.025<\/span><\/p>\n<\/td>\n<td width=\"26%\" style=\"border:none; background:#D9D9D9; padding:0in 5.4pt 0in 5.4pt; height:19.65pt\">\n<p class=\"normal\" align=\"center\" style=\"text-align:center; line-height:11.0pt\"><span style=\"font-size:11.0pt; color:red\">4.281%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p class=\"normal\"><span style=\"font-size:11.5pt; color:black\">&nbsp;<\/span><\/p>\n<div class=\"page-br mt-8\">\n<p class=\"subhead\">Sector News Breakdown<\/p>\n<p class=\"sector\">Autos: <\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\">Chinese automaker <b><span class='nt-symbol'>BYDDF<\/span><\/b> has introduced a new battery system that it claims can charge an EV as fast as refueling a gas car\u2014adding 400 km of range in just 5 minutes. This Super e-Platform outpaces Tesla&#8217;s Superchargers, which provide 275 km in 10 minutes (news weighed on<b><span class='nt-symbol'> TSLA<\/span><\/b> shares).<\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\">Electric Vehicle maker <b><span class='nt-symbol'>LCID<\/span><\/b> was upgraded to Equal Weight at Morgan Stanley with $3 unchanged price target and bull case raised to $10 as believes Lucid can re-rate with new leadership that has the potential to bring forth an executable AI strategy via partnerships<\/li>\n<li class=\"page-br\">In Chinese EV\u2019s: <b><span class='nt-symbol'>NIO <\/span><\/b>announced its partnership with CATL to establish a battery swapping network for cars. CATL will support NIO in developing the battery swapping network while the battery giant&#8217;s Choco-Swap technical standards and network will be introduced to Firefly-branded newly developed models.<b><span class='nt-symbol'> XPEV<\/span><\/b> shares active after mixed quarterly earnings results and guidance.<\/li>\n<li class=\"page-br\"><b>Baidu (BIDU)<\/b> shares looking to extend prior day gains on reports <b>Tesla (TSLA)<\/b> is planning full roll-out of its Full Self-Driving (FSD) service in China this year and is working with Baidu to improve system&#8217;s performance, Chinese tech giant says. Adds free trial of FSD in China scheduled from March 17-April 16.<\/li>\n<li class=\"page-br\">Driver Assistance: <b>TSLA&rsquo;s<\/b> China rival <b>Zeekr<\/b> to roll out advanced driver assistance-system for free; Chinese electric car company Zeekr is releasing advanced driver-assistance capabilities to its local customers for free as competition heats up, Zeekr CEO told CNBC ahead of a launch event Tuesday. <a href=\"https:\/\/nam12.safelinks.protection.outlook.com\/?url=https%3A%2F%2Ftinyurl.com%2Fy29zcchs&amp;data=05%7C02%7Chammerstone%40regalsecurities.com%7Cecd3a7f47fde49498a2f08dd66584728%7C434827bab4eb4dc0b4031a7afe4d47c3%7C0%7C0%7C638779252119805717%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=%2B6Pp1OfT8N9ow1smA1B6ZfDAKhA2hbIt%2FAmk2IAx7w0%3D&amp;reserved=0\" originalsrc=\"https:\/\/tinyurl.com\/y29zcchs\" target=\"_blank\">https:\/\/tinyurl.com\/y29zcchs<\/a> <\/li>\n<li class=\"page-br\"><b>Xiaomi Corp. (XIACY)<\/b> hiked its 2025 delivery target for electric vehicles to 350,000 units after posting its fastest revenue growth since 2021, reflecting inroads into the Chinese EV market; reports 48% rise in Q4 revs, which totalled 109 billion yuan ($15.09 billion), beating the 103.94-billion-yuan average.<\/li>\n<li class=\"page-br\"><b><span class='nt-symbol'>GM<\/span><\/b> and <b><span class='nt-symbol'>NVDA<\/span><\/b> today announced they are collaborating on next-generation vehicles, factories and robots using AI, simulation and accelerated computing.<\/li>\n<\/ul>\n<div class=\"page-br mt-5\">\n<p class=\"sector\">Retail, Leisure, Consumer Staples &amp; Restaurants:<\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\">In Apparel Retail: <b><span class='nt-symbol'>RL<\/span><\/b> was upgraded to Buy from Neutral at Goldman Sachs as believes improving execution and momentum within the company&#8217;s brand elevation strategy will drive additional market share capture opportunities and margin expansion. <\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\">In Broadline\/Hardline retail: The Financial Times reported <b><span class='nt-symbol'>COST<\/span><\/b> is reportedly pushing suppliers in mainland China to lower prices in response to higher U.S. tariffs, adding pressure to manufacturers already operating on thin margins. Walmart and other retailers have made similar demands, according to suppliers.<\/li>\n<li class=\"page-br\">In Restaurants: <b><span class='nt-symbol'>SBUX<\/span><\/b> was upgraded to Buy from Hold at Argus with $115 tgt saying the company&#8217;s emphasis on digital improvements, brand marketing, and fewer sales promotions offer promise.<\/li>\n<li class=\"page-br\">In Casinos &amp; Gaming: Barclay\u2019s said NJ regional GGR -4% y\/y, <b><span class='nt-symbol'>MGM<\/span><\/b> -7%\/-6%. February Regional GGR for states reported thus far (MD, IL, OH, MO, IA, NY, MI, IN, NJ) is -5% y\/y. Calendar-adjusted Regional GGR for states reported thus far is -2% y\/y.<\/li>\n<\/ul>\n<div class=\"page-br mt-5\">\n<p class=\"sector\">Energy<\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\">In Solar &amp; Utilities: <b><span class='nt-symbol'>CSIQ <\/span><\/b>secures $183M in project financing and tax equity for the merchant storage project in Texas; 200 MWh Fort Duncan Storage is under construction and is expected to be operational by Summer 2025 to support ERCOT&#8217;s peak power demand. ETR announced a 15.569M share Spot Secondary priced at $83.50 ($1.3B offering). <b><span class='nt-symbol'>SRE <\/span><\/b>was downgraded to Hold from Buy at Argus on regulatory impacts and cost headwinds in 2025 after the utility recently reset its 2025 earnings guidance lower and increased its spending plan.<\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\">In Gas &amp; Coal: Stephens upgraded <b><span class='nt-symbol'>CNX<\/span><\/b> to Overweight from Equal Weight and raised price target to $48, raising its net asset value (NAV) estimate 37% to $48 based on recent 2025-2027 NYMEX strip prices and the company&#8217;s year-end 2024 proved reserve report and upgraded <b><span class='nt-symbol'>EQT<\/span><\/b> to Overweight (tgt to $59 from $41) and raised its NAV estimate 44% to $59 based on recent 2025-2027 NYMEX strip prices. Coal names <b><span class='nt-symbol'>ARLP<\/span>, <span class='nt-symbol'> BTU<\/span>, <span class='nt-symbol'> CNX<\/span>, <span class='nt-symbol'> HCC<\/span><\/b> shares were active after Trump&#8217;s post last night: &quot;I am authorizing my Administration to immediately begin producing Energy with BEAUTIFUL, CLEAN COAL.&quot; <b><span class='nt-symbol'>NEXT<\/span><\/b> shares jumped after an appellate court ruling hailed as an \u201cexcellent outcome\u201d by the company, which is developing the Rio Grande liquefied natural gas (LNG) facility near Brownsville, Texas.<\/li>\n<\/ul>\n<div class=\"page-br mt-5\">\n<p class=\"sector\">Banks, Brokers, Asset Managers:<\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\">In FinTech\/Payments: <b><span class='nt-symbol'>XYZ <\/span><\/b>was upgraded to Outperform from Market Perform at KBW (cut tgt to $80 from $87) saying they see an attractive risk\/reward skew following the stock&#8217;s recent selloff. <\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\">In Crypto &amp; Blockchain: Early weakness in Bitcoin prices weighed on crypto space again, with <b><span class='nt-symbol'>MSTR<\/span>, <span class='nt-symbol'> COIN<\/span>, <span class='nt-symbol'> MARA <\/span><\/b>and others underperforming. <b><span class='nt-symbol'>BKKT <\/span><\/b>shares tumbled after saying <b><span class='nt-symbol'>BAC <\/span><\/b>will not renew the commercial agreement with the company as its agreement expires on April 22, 2025, with a 12-month transition period.<\/li>\n<li class=\"page-br\">In Insurance: <b><span class='nt-symbol'>BHF<\/span><\/b> was upgraded to Strong Buy at Raymond James saying it could unlock substantial value via a whole company sale (or carve up) or by using creative options to free up capital. The firm noted in January, the Financial Times reported that BHF \u201cis seeking to sell itself.\u201d <b><span class='nt-symbol'>WTW<\/span><\/b> was upgraded to Buy from Neutral at UBS and raised tgt to $395 from $344 as sees continued multiple expansion for WTW relative to the insurance brokerage group, saying its operating and free cash flow margins improve faster than peers. <\/li>\n<\/ul>\n<div class=\"page-br mt-5\">\n<p class=\"sector\">Biotech &amp; Pharma:<\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\"><b><span class='nt-symbol'>HROW <\/span><\/b>shares climbed after posting strong 4Q preliminary results as revenues of $65M-$67M beat consensus ($58.4M) and co sees 2025 revenue over $280M vs. consensus ($281.2M).<\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\"><b><span class='nt-symbol'>INCY<\/span><\/b> was downgraded at both William Blair and Guggenheim after Incyte announced Phase III results from the STOP-HS1 and -HS2 studies evaluating the JAK1 inhibitor Povorcitinibi in patients with moderate to severe hidradenitis suppurativa (HS).<\/li>\n<li class=\"page-br\"><b><span class='nt-symbol'>MOH<\/span><\/b> announced that the Company&#8217;s subsidiary, Molina Healthcare of Illinois, was one of four managed care organizations awarded a contract by the Illinois Department of Healthcare and Family Services to provide a Fully Integrated Dual Eligible Special Needs Plan or D-SNP.<\/li>\n<li class=\"page-br\"><b><span class='nt-symbol'>SANA <\/span><\/b>was upgraded to Outperform from Market Perform with $5 PT at Citizens after Sana reported Q424 results and provided corporate updates, including longer follow-up from the Upsala IST demonstrating three-month islet cell viability.<\/li>\n<li class=\"page-br\"><b><span class='nt-symbol'>SRPT <\/span><\/b>shares tumbled after death of patient with Duchenne muscular dystrophy (DMD) that passed away following treatment with ELEVIDYS, having suffered acute liver failure.<\/li>\n<li class=\"page-br\"><b><span class='nt-symbol'>STOK<\/span><\/b> CEO Ed Kaye is stepping down, the company said. He will be replaced on an interim basis by Director Ian Smith, a former Vertex Pharmaceuticals executive. A search for a permanent CEO is underway.<\/li>\n<li class=\"page-br\"><b><span class='nt-symbol'>VRAX<\/span><\/b> started enrolling patients into its United Kingdom based, multi-center clinical study.<\/li>\n<\/ul>\n<div class=\"page-br mt-5\">\n<p class=\"sector\">Transports<\/p>\n<ul>\n<li class=\"page-br\">In Industrials: <b><span class='nt-symbol'>WAB<\/span><\/b> is acquiring Dellner Couplers for $960 million in cash, financed through cash on hand and short-term debt. In Heavy Duty truckers: JP Morgan lowered price tgt son <b><span class='nt-symbol'>ALSN<\/span>, <span class='nt-symbol'> CMI<\/span>, <span class='nt-symbol'> PCAR<\/span>, <span class='nt-symbol'> OSK<\/span>, <span class='nt-symbol'> TEX<\/span><\/b> saying they are waiting for clarity on tariffs &quot;might lead us to wait too long to reduce estimates&quot; as ongoing uncertainty is impacting sentiment and orders. Lowering estimates for the Truck and Component OEMs in response to weak truck orders and following the EPA&#8217;s deregulation announcement, noting that it is lowering its 2025 North America Class 8 and Classes 6-7 build outlook.<\/li>\n<\/ul>\n<\/div>\n<div class=\"page-br mt-5\">\n<p class=\"sector\">Internet, Media &amp; Telecom<\/p>\n<ul style=\"margin-bottom:0\">\n<li class=\"page-br\"><b><span class='nt-symbol'>NVDA <\/span><\/b>held its GTC AI event today: 1) NVDA CEO said Agentic AI, a type of artificial intelligence that can perform tasks and make decisions without human intervention, needs much more computing power than Nvidia previously believed. &quot;The amount of computation we need at this point as a result of agentic AI is easily 100 times more than we thought we needed at this time last year,&quot; Nvidia Chief Executive Jensen Huang says at the GPU Technology Conference; 2) &quot;What I&#8217;m about to show you is Hopper shipments of the top four CSPs\u2014the ones with the public clouds: Amazon, Azure, GCP &amp; OCI&#8230;..comparing the peak year of Hopper&#8230;and the first week of Blackwell&#8230;you can kind of see that, in fact, AI is going through an inflection point&quot;&quot;<\/li>\n<\/ul>\n<\/div>\n<ul style=\"margin-top:0\">\n<li class=\"page-br\">In Internet: Citigroup said after aggregating February website traffic from SimilarWeb and app data from SensorTower, in partnership with Citi&#8217;s Innovation Lab, they highlight positive trends across <b><span class='nt-symbol'>META<\/span>, <span class='nt-symbol'> DASH<\/span>, <span class='nt-symbol'> UBER<\/span><\/b>, and <b><span class='nt-symbol'>CVNA<\/span><\/b>, while eCommerce, Online Travel, SMB Servicers, and Online Real Estate trends were mixed. <b><span class='nt-symbol'>META<\/span><\/b> shares dropped below $580 midday, turning negative on the year now (and a long drop from the $740.91 high on 2\/14 which was the last day of its then 20-day win streak).<\/li>\n<li class=\"page-br\">Online education: <b><span class='nt-symbol'>DUOL<\/span><\/b> was upgraded to Outperform from Market Perform with $400 PT at Citizens after the company&#8217;s valuation came in following 4Q24 earnings and macro volatility, while also expect Max to be a driver of pricing gains in 2025 and to benefit subscriber conversion in international markets in 2026 and beyond.<\/li>\n<li class=\"page-br\">In Hardware\/Equipment: <b><span class='nt-symbol'>AAPL<\/span><\/b> loses its fight at Germany\u2019s top civil court to overturn a regulator\u2019s decision to put it under tighter antitrust scrutiny alongside other US tech giants; <b><span class='nt-symbol'>GLW <\/span><\/b>guides Q1 core EPS at high end of $0.48-$0.52 range (est. $0.50) and revs to over $3.6B from $3.6B (est. $3.64B) and Corning announced an upgrade to its Springboard plan, along with details on the milestones achieved across the company.<\/li>\n<li class=\"page-br\">In Cyber Security: <b><span class='nt-symbol'>GOOGL<\/span><\/b> announced it has signed a definitive agreement to acquire Wiz, a leading cloud security platform headquartered in New York, for $32B, subject to closing adjustments, in an all-cash transaction (had confirmed prior day media reports). <b><span class='nt-symbol'>GOOGL<\/span><\/b> shares fell on the pricey deal. <\/li>\n<li class=\"page-br\">SMB spending survey: Keybanc surveyed 100 SMBs in March 2025 as part of its semi-annual SMB tech spend survey. The firm said respondents collectively indicated a worsening outlook for tech spend growth, revenue growth, and workforce growth in 2025 as compared to KEYB&#8217;s 2H24 survey (results collected September 2024). &nbsp;A lower level of tech spend growth vs KEYB&#8217;s 2H24 survey and relatively slower level of tech spend growth vs total SMB operating cost growth leaves US feeling worse, in broad terms, about SMB tech vendors. Keybanc lowered tgts on <b><span class='nt-symbol'>XYZ<\/span><\/b> to $85 from $115, <b><span class='nt-symbol'>BILL<\/span><\/b> to $70 from $85. 1H25 SMB survey respondents expect 4.1% 2025 IT budget growth, a 130-bps downtick from KEYB&#8217;s 2H24 survey 1H25\/2H24 survey results collected March 2025\/September 2024) implying moderating SMB tech spend growth.<\/li>\n<\/ul>\n<\/div>\n<p>  <meta http-equiv=\"Content-Type\" content=\"text\/html; charset=utf8\"><meta name=\"Generator\" content=\"Microsoft Word 15 (filtered)\"><\/p>\n<style> <!-- body \t{margin:0; \tfont-family:'Roboto',sans-serif} table \t{break-inside:avoid; \tpage-break-inside:avoid; \tmargin-top:5mm} .page-br \t{break-inside:avoid; \tpage-break-inside:avoid} .mt-5 \t{margin-top:5mm} .mt-8 \t{margin-top:8mm} .normal \t{margin:0; \tfont-size:12pt} .body-copy \t{margin:0; \tline-height:115%; \tfont-size:11.5pt; \tcolor:#404040} .subhead \t{margin:0; \tfont-size:14pt; \tcolor:#F79646; \tfont-weight:bold} .sector \t{margin:0; \tfont-size:11.5pt; \tcolor:#404040; \tfont-weight:bold; \tfont-style:italic; \ttext-decoration:underline} .calendar-date \t{margin:0; \tfont-size:18pt; \tcolor:#632423; \tfont-weight:bold; \ttext-decoration:underline} --> <\/style>\n<style>     @media only screen and (max-width: 500px) {       td p.MsoNormal {         text-indent: 0!important;         margin: 0!important;       }     } <\/style>\n<style>div[class*=WordSection]>p {line-height: inherit !important;}div[class*=WordSection] a:not([href]) {color: inherit !important;}<\/style>\n<div>\n<div>_________________________________________________________________<\/div>\n<div>\n<p><em>Market commentary provided by Hammerstone Markets, Inc, a firm separate from and not affiliated with Regal Securities. Regal Securities has not participated in the creation of the content, and does not explicitly or implicitly endorse the content.<\/em><\/p>\n<\/p><\/div>\n<div><\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Closing Recap Tuesday, March 18, 2025 Index Up\/Down % Last DJ Industrials -260.32 0.62% 41,581 S&amp;P 500 -60.46 1.07% 5,614 Nasdaq -304.55 1.71% 17,504 Russell 2000 -18.39 0.89% 2,049 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; U.S. stocks slumped on Tuesday, erasing Monday&rsquo;s advance as investors exhibit caution ahead of tomorrow&rsquo;s FOMC central bank meeting while market uncertainty &#8230; <a href=\"https:\/\/www.eoption.com\/market-review-march-18-2025\/\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-24692","post","type-post","status-publish","format-standard","hentry","category-daily-market-insights","no-post-thumbnail"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/posts\/24692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/comments?post=24692"}],"version-history":[{"count":0,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/posts\/24692\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/media?parent=24692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/categories?post=24692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eoption.com\/wp-json\/wp\/v2\/tags?post=24692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}