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Wednesday, March 4

Noteworthy macro moves today: Bitcoin +4.5%. Nikkei 225 Index (Japan) -3.8%. Hang Seng 50 Index (China) -2.8%. Noteworthy US mega-cap moves today: Tesla Inc (TSLA) +2.4%. Exxon Mobil Corp (XOM) -0.9%. Eli Lilly and Co (LLY) -0.5%. 

Global equity markets are trading mixed as investors react to significant geopolitical tensions and economic data releases. In the U.S., the ADP Employment Change report released this morning showed an increase of 63,000 jobs in February, surpassing expectations of 50,000. This has contributed to a positive sentiment in U.S. markets despite ongoing concerns about inflation driven by rising oil prices linked to the Middle East conflict.

In Asia, equity indices are sharply lower, with the Nikkei 225 Index down 3.8% amid fears that escalating tensions could disrupt global trade and fuel inflationary pressures. The Hang Seng Index also fell 2.8%, reflecting broader regional concerns over energy supply disruptions following Iran's actions in response to military engagements involving the U.S.

Meanwhile, European markets are showing resilience with gains across major indices as investors engage in bargain hunting after recent declines. The DAX is up significantly as market participants respond positively to President Trump's announcement regarding U.S. Navy escorts for oil tankers through the Strait of Hormuz, aimed at stabilizing energy prices amidst rising geopolitical risks.

Bitcoin (BTC/USD) [+4.6%]
Bitcoin prices surged today, reaching a three-week high of 71,883 as geopolitical tensions in the Middle East escalated. President Donald Trump's announcement regarding U.S. Navy escorts for oil tankers through the Strait of Hormuz has positively impacted market sentiment. Rising crude oil prices due to ongoing conflicts have heightened interest in Bitcoin as an alternative asset amidst global economic uncertainties. Additionally, BlackRock purchased 264,520,000 worth of Bitcoin last night, contributing to strong institutional demand. Spot Bitcoin ETFs saw inflows of 1.45 billion over five days, marking the strongest weekly inflow in months. Bitcoin's long-term holder supply has risen to 14.5 million BTC, suggesting a potential shift towards re-accumulation after a period of distribution.

SPDR Gold Shares (GLD) [+1.8%]
The SPDR Gold Shares ETF (GLD) saw an increase in overnight trading, recovering from a prior decline during the regular session. This uptick coincided with a rebound in gold prices, which rose significantly from a recent low. Retail sentiment on Stocktwits shifted positively, moving from neutral to bullish. Concurrently, Bitcoin's price also experienced a notable climb, highlighting ongoing dynamics in both precious metals and cryptocurrency markets. Geopolitical tensions have escalated, particularly following military actions involving U.S. and Israeli forces and Iran, contributing to gold's daily return. Silver prices have also increased, reflecting a strong correlation with GLD's movement. Discussions on social media noted the percentage declines of various assets from their all-time highs, with gold down notably, while mentions of GLD and the iShares Silver Trust indicated a potential shift in market sentiment.

CANF | +86.4% | +11.7B
Can Fite Biopharma Ltd | Biotechnology
Can-Fite BioPharma Ltd reported significant progress in its clinical trials today. The company announced that its investigational drug, namodenoson, successfully met the primary safety endpoint in a Phase IIa study involving patients with advanced pancreatic ductal adenocarcinoma who had previously undergone systemic therapies. The study demonstrated that namodenoson was well tolerated among the 20 participants, with no new safety signals identified. Secondary endpoints related to overall and progression-free survival are still under evaluation, with one-third of patients remaining alive at the time of data analysis. Following this announcement, Can-Fite's stock experienced considerable pre-market activity, surging significantly. Social media discussions highlighted a price increase, with mentions of a low float of around 2.6 million shares contributing to volatility and rapid price changes. Overall sentiment on social media is positive, with excitement surrounding the stock's performance and potential.

COIN | +7.1% | +3.4B
Coinbase Global Inc | Financial Exchanges & Data
Coinbase Global Inc has seen a notable increase in its share price, attributed to a rebound in Bitcoin prices, which have risen significantly above $71,000. This rise in Bitcoin has coincided with a 5.65% increase in Coinbase's shares. Former President Trump's recent criticisms of banks regarding the CLARITY Act highlight ongoing regulatory tensions that could influence the cryptocurrency sector. Additionally, discussions on social media emphasize how Kraken's acquisition of a Fed master account may streamline processes for crypto entities like Coinbase, marking a potential shift in the regulatory landscape. Meanwhile, global economic uncertainty and geopolitical tensions continue to foster a risk-off sentiment in the markets, impacting the broader cryptocurrency sector and sentiment towards Coinbase.

MRNA | +8.8% | +1.8B
Moderna Inc | Biotechnology
Moderna Inc has announced a $2.25 billion global settlement with Genevant Sciences and Arbutus Biopharma, resolving all litigation concerning its use of lipid nanoparticle (LNP) delivery technology in COVID-19 vaccines, including Spikevax. The settlement entails an upfront payment of $950 million due in July 2026, along with a contingent payment of up to $1.3 billion depending on the outcome of an appeal regarding patent infringement claims. This agreement effectively concludes all COVID vaccine patent litigation worldwide and grants Moderna a global non-exclusive license for the LNP technology. Following the announcement, Moderna's stock experienced a notable increase, with reports indicating an after-hours rise of approximately 10%. The company projects a charge of $950 million in Q1 2026 and anticipates ending 2026 with cash and cash equivalents between $4.5 billion and $5.0 billion.

ROST | +6.9% | +4.9B
Ross Stores Inc | Apparel Retail
Ross Stores Inc. reported robust fourth-quarter earnings, posting earnings per share (EPS) of 2.00, exceeding estimates of 1.89, and revenues of 6.64 billion, surpassing expectations of 6.41 billion. The company achieved a pretax profit of 848.3 million and a net income of 645.9 million, with an operating margin of 12.3%. Comparable store sales increased by 9% year-over-year. Following these results, Ross announced a new buyback program and a 10% increase in its dividend from 0.405 to 0.445. For the first quarter, the company forecasts EPS between 1.60 and 1.67, slightly above the consensus estimate of 1.62. Full-year EPS guidance is projected in the range of 7.02 to 7.36, with same-store sales growth anticipated at 3% to 4%. Following the earnings report, Ross experienced a notable increase in share price.

MU | +3.1% | +13.4B
Micron Technology Inc | Semiconductors
Micron Technology Inc. is experiencing upward momentum, coinciding with a broader market increase. This positive movement is attributed to strong demand for memory solutions, particularly driven by artificial intelligence applications. Analysts have reached a consensus on Micron's favorable position amid an ongoing memory shortage, though opinions diverge on the sustainability of this supply tightness. Recently, Micron launched the world's first 256GB LPDDRAM SO-COMM2 module for AI data centers, generating notable social media buzz. Additionally, significant price hikes in DRAM and NAND Flash memory chips are anticipated due to robust demand for AI data center storage, further underscored by a dramatic year-on-year sales increase reported by Taiwan memory chip maker Nanya Tech.

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