Daily Brief - March 13, 2026 (EOD)

 ## Market Recap The major U.S. equity indices closed lower on the session amid heightened geopolitical tensions and rising oil prices. The S&P 500 declined 0.55% to $662.39, retracing from its open at $669.27 and trading within a range of $661.36 to $672.34. The Nasdaq 100 underperformed, falling 0.65% to $593.35, pressured by weakness in large-cap technology stocks. The Dow Jones Industrial Average also slipped 0.21% to $466.50, while the Russell 2000 small-cap index declined 0.40% to $246.42. The broad market showed a cautious tone as investors digested mixed economic data and geopolitical risks. Market sentiment was characterized by risk aversion, with energy stocks benefiting from a surge in crude oil prices, while technology and consumer discretionary sectors faced selling pressure. Trading volumes were moderate, with 97.2 million shares traded on the S&P 500 ETF (SPY) and 63.2 million on the Nasdaq 100 ETF (QQQ). Breadth was negative, reflecting a market environment where defensive sectors outperformed amid uncertainty. The session's trading was marked by rotation into energy and financials, as investors sought shelter from escalating Middle East tensions and the resulting commodity price volatility. ## Top Stories That Moved Markets - **Oil Prices Surge Above $100**: Crude oil prices jumped 2.82% to $121.73 on the US Oil Fund (USO), fueled by ongoing conflict in Iran and concerns over supply disruptions in the Strait of Hormuz. This spike pressured energy-sensitive sectors and raised inflation concerns, impacting broader market sentiment. - **Adobe (ADBE) Shares Plunge 7.24%**: Adobe's stock fell sharply after the company reported a slowdown in annual recurring revenue growth and announced a CEO transition. The earnings call highlighted challenges in sustaining AI-driven growth momentum, leading to investor caution in the software sector. - **Amazon (AMZN) Faces Regulatory Headwinds**: A European court annulled a fine against Amazon related to behavioral advertising violations, providing some relief. However, shares still declined 1.04%, weighed by ongoing regulatory scrutiny and cautious investor outlook on e-commerce growth. - **American Public Education (APEI) Surges 21.40%**: The stock rallied strongly following multiple price target raises from analysts citing robust Q4 results and positive outlook. This education sector outperformer bucked the broader market trend with strong momentum. - **Meta Platforms (META) Drops 4.16%**: Meta's shares declined amid reports of delays in launching revamped AI models and concerns over the company's ability to sustain its AI leadership. The selloff added to technology sector weakness. ## Biggest Winners - **$SVCO** +50.28% - Surged on strong Q4 earnings and renewed investor interest in its AI-driven data center solutions. - **$SKIN** +23.58% - The Beauty Health Company rallied on upbeat Q4 results and positive analyst commentary on AI integration in beauty tech. - **$LOCO** +16.27% - El Pollo Loco gained after the company reported solid Q4 earnings and raised guidance amid operational improvements. - **$KRRO** +15.22% - Korro Bio jumped on news of a significant investor buying $2.3 million in shares, signaling confidence in its clinical pipeline. - **$VEON** +14.20% - Shares spiked amid strong Q4 results and optimism around telecom growth in emerging markets. - **$LPRO** +18.18% - Open Lending rallied following a strong Q4 earnings report and raised 2026 revenue targets. - **$APEI** +21.40% - American Public Education's stock rallied on analyst upgrades and strong quarterly performance. - **$TOI** +10.06% - Oncology Institute gained after a price target raise and positive sentiment on its cancer treatment pipeline. ## Biggest Losers - **$DOUG** -26.72% - Douglas Elliman plunged after missing Q4 earnings estimates and issuing weak guidance, triggering a sharp selloff. - **$ACXP** -22.55% - Acurx Pharmaceuticals dropped sharply despite launching a new clinical trial, reflecting investor concerns over execution risks. - **$QRHC** -20.33% - Quest Resource Holding tumbled on disappointing Q4 results and lower-than-expected revenue. - **$SRFM** -22.34% - Surf Air Mobility declined on a downgrade citing lack of earnings improvement and dilution concerns. - **$CRMT** -11.22% - America's Car-Mart fell after missing Q3 earnings and revenue estimates, raising doubts about turnaround prospects. - **$CAPR** -10.21% - Capricor Therapeutics sold off on mixed Q4 results and cautious outlook. - **$HNRG** -9.78% - Hallador Energy declined despite a beat on earnings, pressured by broader energy sector volatility. - **$ZUMZ** -8.58% - Zumiez dropped amid margin pressures and cautious commentary on consumer discretionary spending. ## Sector Scorecard - **Leaders:** Energy (+0.43%) and Financials (+0.27%) outperformed, driven by the surge in oil prices and solid bank earnings. Consumer Staples (+0.58%) also showed resilience as investors sought defensive exposure amid market volatility. - **Laggards:** Technology (-0.83%) led the declines with major software and semiconductor names under pressure from earnings concerns and AI-related uncertainties. Consumer Discretionary (-0.59%) also lagged due to cautious consumer spending outlooks. Healthcare (-0.25%) was slightly down amid mixed sector earnings. ## After-Hours Movers - **data not available** ## Crypto & Commodities - Bitcoin edged higher by 0.42% to $70,825.25, continuing to hold above $70,000 despite broader equity weakness. - Ethereum gained 0.53% to $2,084.28, reflecting steady crypto market resilience. - Gold declined 1.24% to $461.08 on GLD, pressured by rising real yields and stronger dollar dynamics. - Oil prices surged 2.82% to $121.73 on USO, driven by geopolitical tensions and supply concerns in the Middle East. ## Tomorrow Setup Investors will focus on upcoming economic data and earnings releases amid ongoing geopolitical uncertainty. Key events include: - Initial Jobless Claims and Building Permits data for January, which showed mixed signals with jobless claims slightly below expectations and housing starts rising 7.2%, indicating some strength in the labor and housing markets. - Continued monitoring of the Iran conflict and its impact on oil prices and inflation expectations. - Earnings reports to watch include Micron Technology, which is gaining momentum ahead of its quarterly results, and other tech names that could influence sector direction. - Market participants will also track Federal Reserve communications for clues on the timing of future rate cuts, as sticky inflation readings suggest the central bank may hold steady longer than anticipated. - Risk factors include elevated oil prices above $100, which could pressure consumer spending and corporate margins, and geopolitical risks that may weigh on risk appetite. Overall, the market remains cautious with defensive positioning favored, but pockets of strength in energy and select growth stocks offer opportunities for tactical plays.