Stocks
The S&P Hit a 2026 Low. The Equal-Weight Version Is Up 3%. Those Are Two Very Different Stories.
S&P 500 hit a 2026 low at 6,632. Adobe lost 8.85% after its CEO of 18 years resigned. But the equal-weight S&P is up 3% YTD. Here's what's actually moving.
Americas
DXY Topped 100. The Dollar Isn’t Strong. It’s Just the Last Man Standing.
DXY crossed 100 on Friday. EUR/USD is at 1.1457, USD/JPY at 158, and Q4 GDP was just revised to 0.7% as core PCE hit 3.1%. Here's what's driving the dollar and what breaks the trade.
Crypto
The S&P 500 Just Had Its Worst Session of the Year. Bitcoin Is at a Weekly High.
Bitcoin hit a weekly high near $72,000 as the S&P 500 posted its worst session of 2026. Strategy bought the dip. ETF inflows reversed. The fiat debasement trade is back.
Commodities
Brent Closed Above $100 for the First Time Since August 2022.
Brent settled at $100.46 on Thursday, its first close above $100 since August 2022. Iran's new supreme leader vowed to keep Hormuz closed. The Fed is frozen. Here's what actually matters.
Stocks
The Market Spent Two Weeks Watching Oil. Samsung and SK Hynix Have a Helium Problem.
South Korea imports 64.7% of its helium from Qatar. Qatar's Ras Laffan facility has been offline since March 2. Samsung and SK Hynix have six months of stockpiles. The AI chip trade has a supply chain problem that has nothing to do with oil prices.
Economy
The IEA Released 400 Million Barrels. Gulf Producers Cut 6.7 Million Per Day. The Math Doesn’t Work.
Saudi Arabia, Iraq, the UAE, and Kuwait have cut combined oil output by 6.7 million barrels per day as Hormuz storage fills and tankers stop moving. The IEA released 400 million barrels on Wednesday. The net position is still deeply negative.
Commodities
The IEA Just Released More Oil Than Ever Before. The Market Didn’t Care.
The IEA released a record 400 million barrels of emergency oil reserves on Wednesday. Brent still closed above $91. WTI settled up over 4%.
Crypto
The DOJ Is Investigating Binance for Iran. Binance’s Response Was to Sue the Newspaper That Broke the Story.
The DOJ opened a probe into Iran's alleged use of Binance to move $1B+ past U.S. sanctions. Binance's response: sue the Wall Street Journal for defamation. On the same day. Meanwhile, the U.S. is the one that started the war.
