Tonight, it surged.

【Intro】Markets are warming up as tech stocks surge

Brothers and sisters, tonight’s good news is that the stock market is rallying sharply. If there’s no surprise, then by Thursday everyone won’t need to lose money!

Global stock markets bounce back as tech stocks surge

On the evening of March 4, global stock markets recovered. Data showed that the U.S. services sector expanded at the fastest pace since mid-2022. At the same time, the price index touched a nearly one-year low, and U.S. stocks rebounded accordingly. Tech giants led the way, with the Nasdaq 100 rising more than 1%. Because traders were analyzing conflicting signals related to the Iran conflict, crude oil prices fell below $75.

Among them, the Dow rose by more than 300 points, the Nasdaq index climbed by about 1.5%, and the S&P 500 index rose by about 1%.

Tech stocks surged across the board.

In Europe as well, there was a large-scale rebound.

Crude oil prices slipped slightly, while spot gold and silver rose.

Goldman Sachs strategists said investors should treat any pullback in the stock market as a buying opportunity, not as a signal that a bear market is starting. Although risk assets face “major downside factors” stemming from concerns about the Middle East war and the disruptive impact of artificial intelligence, the underlying economic resilience and strong earnings growth mean the depth and breadth of any pullback will be limited.

In addition, the index of Chinese concept stocks rose by more than 1%.

Latest developments in the Iran conflict

On the evening of March 4, the following reports about the Iran conflict affected capital markets.

First, Iran denied reports that its intelligence ministry had contacted the U.S. to discuss ending the war in the Middle East.

Reports said that Iranian agents indirectly reached out to the Central Intelligence Agency (CIA) on Sunday to discuss terms for ending the conflict. Citing information from a semi-official source, the Tasnim news agency reported that the claim is “pure lies and psychological warfare.”

After the denial, the stock market briefly plunged and oil prices briefly rose. However, because traders shifted their focus to the U.S. plan to have oil tankers transiting the Strait of Hormuz escorted by the Navy, oil prices quickly fell again, and the stock market showed a deep “V” pattern.

Second, Western officials believe Iran has the capability to carry out missile and drone attacks on Gulf countries for several days.

Based on their assessment, because the U.S. and Israel successfully struck Iran’s large weapons arsenal, and Iran may keep part of its stockpiles to prolong the conflict, the rate of Iran’s ballistic missile attacks has begun to slow.

Officials said that because the United States and its allies have used up large numbers of “Patriot” missile defense system units and other reserves, defensive weapons to protect Gulf countries from Iran’s attacks have also been reduced.

Third, U.S. Treasury Secretary Bessent said the U.S. would issue a “series of announcements” to support oil flows in the Persian Gulf. Previously, Trump said the U.S. would provide risk insurance for all shipping and trade through the Gulf, aiming to get tankers moving again through the Strait of Hormuz.

After Bessent delivered his remarks, the surge in oil prices started to lose momentum.

Fourth, the U.S. Defense Secretary said the U.S. and Israel are expected to obtain “full control” of Iran’s airspace within a few days.