Global Markets: U.S. Major Stock Indices Close Higher, Nasdaq Up Over 1%, International Oil Prices Plunge from High Levels

U.S. Stock Market: The three major U.S. stock indices closed higher across the board on March 9. At the close, the Dow Jones Industrial Average rose 239.25 points to 47,740.8, up 0.5%; the S&P 500 increased 55.97 points to 6,795.99, up 0.83%; the Nasdaq Composite gained 308.27 points to 22,695.95, up 1.38%. According to CCTV News, U.S. President Trump stated that the war with Iran might end very soon.

Large tech stocks mostly declined, with ASML and AMD rising over 5%, Intel and Broadcom up over 4%, Nvidia and Google up over 2%, and Tesla and Microsoft seeing slight gains.

In earnings reports, Huya Technology reported Q1 FY2026 revenue of $9.3 billion, up 18% year-over-year; of which, network business revenue reached $2.7 billion, cloud and AI business revenue was $6.3 billion, and corporate investments and other income totaled $261 million.

Storage concept stocks surged, with SanDisk up over 11%, Western Digital up over 6%, and Micron Technology up over 5%.

Most popular Chinese concept stocks rose, with the Nasdaq Golden Dragon China Index up 1.76%. Kingsoft Cloud surged over 19%, Xpeng Motors and Bilibili up over 6%, Li Auto nearly 4%, and NIO over 3%.

Commodity Market: International oil prices declined on March 9. At the close, NYMEX WTI crude oil futures for the current month fell $5.82 to $85.08 per barrel, a 6.40% decrease. COMEX gold futures for the current month dropped $10.00 to $5,148.70 per ounce, down 0.19%. COMEX silver futures rose $3.03 to $87.345 per ounce, up 3.60%. Spot gold fell $34.31 to $5,136.81 per ounce, down 0.66%. Spot silver increased $2.59 to $86.96 per ounce, up 3.07%.

European Stock Markets: The three major European indices declined across the board on March 9. The FTSE 100 closed at 10,249.52, down 35.23 points or 0.34%. France’s CAC 40 closed at 7,915.36, down 78.13 points or 0.98%. Germany’s DAX closed at 23,409.37, down 181.66 points or 0.77%.

Overnight Headlines

Trump Says Iran War “Basically Over”

According to CCTV, on March 9 local time, U.S. President Trump stated that the war with Iran might end very soon. During a phone interview, Trump said, “I think this war is basically over, almost done. They (Iran) have no navy, no communication systems, and no air force.” Trump also mentioned that this progress is “much faster” than his initial estimate of 4 to 5 weeks.

G7 Does Not Release Strategic Oil Reserves, Says More Assessment Needed

On Monday (March 9), a G7 official said that G7 finance ministers largely agreed during their meeting to temporarily hold off on releasing strategic oil reserves. Earlier Monday, G7 finance ministers held a conference call to discuss how to respond to the surge in oil prices triggered by the U.S. and Israel’s actions against Iran.

U.S. Energy Secretary: “Discussing” Coordinated Release of Strategic Oil Reserves

U.S. Energy Secretary Jennifer Granholm stated that the U.S. government is “discussing” coordinating the release of strategic oil reserves to address current energy market conditions.

Macron Says France May Deploy Troops to the Strait of Hormuz

According to Nicosia reports, French President Macron on March 9 said France will maintain military presence in the Mediterranean and Red Sea, including deploying aircraft carriers and multiple warships. The deployment could eventually include the Strait of Hormuz to ensure regional shipping safety and European interests. The Cyprus-based “Free Cyprus” reported that Macron, at the Paphos Air Force Base in southwestern Cyprus, said, “Attacking Cyprus is attacking Europe,” and France will continue working with partner countries to safeguard European citizens and international shipping lanes, emphasizing that these actions will remain defensive.

Renowned Leaker Gulman: Apple Will Launch More “Ultra” Devices and Develop 3D-Printed Aluminum Technology

Famous Apple leaker Mark Gulman stated that the upcoming MacBook Neo could shake up the computer industry, and Apple plans to further target the high-end market by launching more “Ultra” level devices. Additionally, Apple intends to widely adopt 3D-printed aluminum. Last week, Apple announced on its official website a new laptop, MacBook Neo, starting at only 4,599 RMB, marking its strongest push into the low-end laptop market, directly competing with Microsoft and Google.

Middle East Conflict Impacts Gulf Financial Centers; Wall Street Banks Offer “Evacuation Options” for UAE Employees

As the U.S. and Israel’s military strikes on Iran enter the tenth day, targets have expanded to civilian facilities, with reports of new attacks and civilian casualties in several Gulf countries. In this context, many Wall Street banks have allowed their employees working in the UAE to temporarily leave the country and work remotely.

Anthropic Files Lawsuit Against Trump Administration Over Pentagon Blacklist

AI startup Anthropic filed a lawsuit against the Trump administration on Monday, after being blacklisted and labeled as a threat to U.S. national security. In its complaint filed in the U.S. District Court in California, Anthropic said these actions are “unprecedented and illegal,” causing “irreparable harm” to the company.

Wall Street Underestimates Impact of Iran War? JPMorgan Warns S&P 500 Could Fall 10%

On Monday (March 9), JPMorgan’s Global Market Intelligence head Andrew Tyler issued a report stating that as the Iran conflict persists and international oil prices surpass $100 per barrel, the S&P 500 could decline about 10% from its high, to around 6,270 points. Despite the ongoing Iran war for over a week, U.S. markets have reacted surprisingly mildly—except for brief dips and volatility. Even Goldman Sachs CEO David Solomon expressed surprise at Wall Street’s “moderate” response to the conflict.

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