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【US Stock Market Close】Oil Price Falls Over 2%, Dow Jones Up 387 Points, Trump Delays China Visit by One Month (Continuously Updated)
The US dollar index and oil prices declined, with New York crude falling 5.3% to $93.50, and Brent crude dropping 2.4% to $100.66. The US dollar index fell 0.6% to 99.8. The 10-year US Treasury yield decreased by 0.06 percentage points to 4.216%.
Latest US Stock Market Close:
As G7 major countries begin releasing their oil reserves, short-term supply is ample. However, the Iran crisis continues to trouble the market. Trump stated he has postponed a summit with Chinese President Xi Jinping by about a month, as remaining in Washington to direct the Iran conflict is very important to him. The delay reflects Trump’s expectations about the duration of the Iran war.
The Dow rose 387 points, closing at 46,946; the S&P 500 increased 1% to 6,699; and the Nasdaq gained 1.2% to 22,374.
According to foreign media PBS, Trump said Iran is not yet ready for a deal, and mentioned that once the war ends, oil prices will fall rapidly like a rolling stone, believing the conflict won’t last long. He also stated that Iran has extensive infrastructure in Tehran that could be destroyed within an hour, but doing so would require years of rebuilding and cause trauma, so it’s best to avoid. He also mentioned he doesn’t want to damage the pipelines on Halek Island, a key oil area, because destruction would take years to reconnect.
US Treasury Secretary Janet Yellen told CNBC that the US doesn’t mind some Iranian, Indian, and Chinese ships passing through the Strait of Hormuz, considering Iran’s allowing ships to pass as a natural opening, and hopes global oil supply remains sufficient. She added that any measures to ease oil price increases depend on how long the Iran conflict lasts.
In focus stocks, NVIDIA (US: NVDA) rose 2.6%, closing at $184.93, with Jensen Huang speaking at the GTC tech conference.
Data center company Nebius (US: NBIS) surged 15.4%, announcing on Monday that starting early 2027, it will provide Meta (US: META) with $12 billion in dedicated computing capacity. Meta also committed to purchasing up to an additional $15 billion in computing capacity. Meta increased 1.9%.
This week’s highlights include the US February PPI release on Tuesday, and the Federal Reserve’s interest rate decision on Thursday early morning. Major central banks like the ECB, Bank of England, and Bank of Japan will also hold meetings this week. Additionally, Micron (US: MU) will report earnings after market close on Wednesday.
Hong Kong stocks and ADR markets are continuously updated. See the next page for details:
Market Movements:
【22:55】Trump: Once the war ends, oil prices will fall sharply. Dow rises 393 points, oil drops 1%.
【21:30】Yellen: US doesn’t mind Chinese ships passing through the Strait of Hormuz. Dow up 369 points, oil down 1%.
【18:50】Middle East war enters its third week. Dow futures up 152 points, Nasdaq futures up 0.7%. This week is a “super rate decision week.”
【13:47】Dow futures up 226 points, at 47,112; S&P futures up 39 points, at 6,724; Nasdaq futures up 147 points or 0.6%, at 24,753.
【12:59】【AI + Chips】Tesla to develop its own chips? Elon Musk announces the launch of a giant AI chip factory “Terafab.”
【12:06】【AI + Gemini】Hong Kong also uses Gemini! Google: will further expand Gemini to all users in Hong Kong, starting with web version, mobile app coming later.
【11:07】【Xi-Trump Meeting】Trump says “possible delay” of meeting with President Xi Jinping.
【10:14】【Iran Crisis】IEA: Over 400 million barrels of emergency oil reserves are about to be released, prioritizing supply to Asia. Europe and the US need to wait until late March.
【19:28】【Gold Price Trend】Gold falls below $5,000, as Middle East war enters its third week and oil prices continue to rise.
【11:36】【Iran Crisis】US Energy Secretary: Cannot guarantee oil prices will fall within weeks. Will target military facilities first before seizing the strait (ongoing updates).
【07:30】【Global Outlook】This week is a “super rate decision week,” with expectations that the Fed will keep interest rates unchanged on Thursday.
【07:30】As Middle East tensions escalate again, US stocks declined last Friday. The Dow opened slightly higher, rising up to 446 points, then fell back 183 points, closing at 46,558; down 119 points overall. The S&P dropped 0.61%, and the Nasdaq fell 0.93%.
Latest US Stock Market Close:
For details on last week’s US stock movements, see: 【US Stock Market Close】 Preview: Iran Attack Next Week, Dow down 119 points, Brent crude up 2.7% to over $103.