Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol. The company produces California Reformulated Gasoline Blendstock for Oxygenate Blending and Conventional Blendstock for Oxygenate Blending gasolines, CARB diesel, diesel, jet fuel, heating oil, and asphalt; feedstocks; aromatics; sulfur and residual fuel oil; intermediate oils; and sulfur, sweet, and sour crude oils. It sells its refined products through wholesale rack and bulk markets; and through outlets under the Valero, Beacon, Diamond Shamrock, Shamrock, Ultramar, and Texaco brands. The company owns and operates renewable diesel and ethanol plants, as well as produces renewable diesel and naphtha under the Diamond Green Diesel brand name. In addition, it offers ethanol and various co-products, including dry distiller grains, syrup, and inedible distillers corn oil to animal feed customers. The company was formerly known as Valero Refining and Marketing Company and changed its name to Valero Energy Corporation in August 1997. Valero Energy Corporation was founded in 1980 and is headquartered in San Antonio, Texas.

Valero Energy Corporation демонстрирует смешанную фундаментальную картину. С одной стороны, компания имеет высокие показатели по мультипликаторам, таким как P/E, который на 169.2% выше медианы отрасли, указывая на возможную переоцененность. С другой стороны, P/S и P/FCF ниже медианы, что может указывать на недооцененность в этих аспектах. По эффективности, показатели ROE и ROA находятся значительно ниже медианных значений, что вызывает беспокойство о рентабельности. Однако, несмотря на это, Valero демонстрирует сильные абсолютные значения по выручке и чистой прибыли, которые значительно превышают медианные значения отрасли. Уровень дивидендов остается стабильным, но не растет, что также является фактором, который стоит учитывать. Долговая нагрузка находится на приемлемом уровне, что является позитивным аспектом. В целом, негативные аспекты, такие как низкие маржи и высокие мультипликаторы, требуют осторожного подхода к оценке компании, несмотря на ее сильные финансовые показатели и устойчивые объемы выручки.

Valero Energy Corporation

Looking today at week-over-week shares outstanding changes among the universe of ETFs covered at ETF Channel, one standout is the Schwab US Dividend Equity ETF (Symbol: SCHD) where we have detected an approximate $359.1 million dollar inflow -- that's a 0.4% increase week over week in outstanding units (from 2,705,650,000 to 2,717,300,000). Among the largest underlying components of SCHD, in trading today Amgen Inc (Symbol: AMGN) is up about 0.3%, United Parcel Service Inc (Symbol: UPS) is off about 0.4%, and Valero Energy Corp (Symbol: VLO) is lower by about 0.6%. For a complete list of holdings, visit the SCHD Holdings page » The chart below shows the one year price performance of SCHD, versus its 200 day moving average:
Looking at the chart above, SCHD's low point in its 52 week range is $23.87 per share, with $31.95 as the 52 week high point — that compares with a last trade of $30.88. Comparing the most recent share price to the 200 day moving average can also be a useful technical analysis technique -- learn more about the 200 day moving average ».
Exchange traded funds (ETFs) trade just like stocks, but instead of ''shares'' investors are actually buying and selling ''units''. These ''units'' can be traded back and forth just like stocks, but can also be created or destroyed to accommodate investor demand. Each week we monitor the week-over-week change in shares outstanding data, to keep a lookout for those ETFs experiencing notable inflows (many new units created) or outflows (many old units destroyed). Creation of new units will mean the underlying holdings of the ETF need to be purchased, while destruction of units involves selling underlying holdings, so large flows can also impact the individual components held within ETFs.
Also see:
Best High Dividend Stocks
Institutional Holders of COA
Funds Holding DFCF
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

SCHD, AMGN, UPS, VLO: Large Inflows Detected at ETF

The S&P 500 Index ($SPX) (SPY) on Thursday closed down -1.52%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -1.56%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.73%. March E-mini S&P futures (ESH26) fell -1.49%, and March E-mini Nasdaq futures (NQH26) fell -1.75%.
Stocks fell sharply on Thursday as a surge in crude oil prices stoked fears that the war against Iran would crimp global fuel supplies and boost inflation. WTI crude oil prices soared more than +9% on Thursday amid widening disruptions to crude production and transport in the Middle East.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks extended their losses on Thursday, and crude prices added to their gains on comments from Iran’s Supreme Leader Ayatollah Mojtaba Khamenei, who said that Iran’s leverage of closing the Strait of Hormuz should be used, and attacks on Gulf Arab neighbors will continue. He added that Iran will open unspecified “other fronts” in the war if the US and Israel persist with their attacks. Also, comments from President Trump gave crude prices a boost when he said that preventing Iran from having nuclear weapons is "of far greater interest and importance" to him than the cost of oil, a sign that the war in the Middle East isn't close to a de-escalation.
Credit concerns weighed on bank stocks and asset managers on Thursday after Morgan Stanley and Cliffwater LLC capped withdrawals from their private credit funds amid investor demand to redeem more than the funds allow. Private credit funds are grappling with a wave of redemption requests amid growing concerns over the quality of their loans. BlackRock last week decided to limit withdrawals, a move that other asset managers have since followed.
Crude oil prices rallied sharply on Thursday despite the IEA members' decision on Wednesday to release 400 million barrels from emergency oil stockpiles. The IEA said the war against Iran is disrupting 7.5% of global oil supply, and the conflict will cut global oil supply by 8 million bpd this month. The closure of the Strait of Hormuz, through which about a fifth of the world’s oil and natural gas flows, has choked off oil and gas flows due to Iran’s attacks on shipping in the waterway and forced Gulf producers to cut output because they can’t export from the region. UK Defense Secretary Healey said Thursday that it is increasingly evident that Iran is laying mines in the Strait of Hormuz, which could keep the strait closed for the foreseeable future.
Iran’s President Masoud Pezeshkian said his country would need “firm international guarantees against future aggression” to accept a ceasefire as well as reparations. However, comments from President Trump late Wednesday suggest the conflict could continue for weeks when he said that it would be unwise for the US to wind down hostilities too soon.
US economic news on Thursday was mixed for stocks after weekly jobless claims rose less than expected, a sign of labor market strength. Also, Jan housing starts unexpectedly rose to an 11-month high, but Jan building permits fell to a 5-month low.
US weekly initial unemployment claims fell -1,000 to 213,000, showing a stronger labor market than expectations of an increase to 215,000.
US Jan housing starts unexpectedly rose +7.2% m/m to an 11-month high of 1.487 million, stronger than expectations of a decline to 1.341 million. Jan building permits, a proxy for future construction, fell -5.4% m/m to a 5-month low of 1.376 million, weaker than expectations of 1.410 million.
The US Jan trade deficit shrank to -$54.5 billion, narrower than expectations of -$66.0 billion.
Q4 earnings season is nearly over, with more than 98% of the S&P 500 companies having reported earnings results. Earnings have been a positive factor for stocks, with 74% of the 495 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 0% chance for a -25 bp FOMC rate cut at the next policy meeting on March 17-18.
Overseas stock markets settled lower on Thursday. The Euro Stoxx 50 closed down -0.79%. China's Shanghai Composite fell from a 1-week high and closed down -0.10%. Japan's Nikkei Stock 225 closed down -1.04%.
Interest Rates
June 10-year T-notes (ZNM6) on Thursday closed down by -18.5 ticks. The 10-year T-note yield rose +3.9 bp to 4.269%. June T-notes fell to a 5-week low on Thursday, and the 10-year T-note yield climbed to a 5-week high of 4.275%. Thursday’s +9% rally in oil prices raised inflation expectations and undercut T-note prices. Also, concerns that the cost of the ongoing war against Iran will boost the US budget deficit are bearish for T-notes. On the positive side for T-notes on Thursday was strong demand for the Treasury’s $22 billion auction of 30-year T-bonds that had a bid-to-cover ratio of 2.45, above the 10-auction average of 2.39.
European government bond yields moved higher on Thursday. The 10-year German bund yield rose to a 2.25-year high of 2.962% and finished up +2.5 bp to 2.957%. The 10-year UK gilt yield climbed to a 6.25-month high of 4.800% and finished up +8.7 bp to 4.773%.
The European Union's economy chief, Valdis Dombrovskis, said the inflation rate could surpass 3% this year, and GDP in the Eurozone could be as much as -0.4 points lower if the war in the Middle East causes crude oil prices to remain around $100 per barrel and gas prices stay elevated for an extended period.
Swaps are discounting a 3% chance of a -25 bp ECB rate hike at its next policy meeting on March 19.
US Stock Movers
Airline stocks and cruise line operators sold off on Thursday amid a 9% surge in crude oil prices, which are boosting companies’ fuel costs and threatening earnings. Carnival (CCL) and Southwest Airlines (LUV) closed down more than -7%, and Alaska Air Group (ALK) and Royal Caribbean Cruises (RCL) closed down more than -6%. Also, United Airlines Holdings (UAL), Norwegian Cruise Line Holdings (NCLH), and American Airlines Group (AAL) closed down more than -4%. In addition, Delta Airlines (DAL) closed down more than -2%.
Chip stocks retreated on Thursday, weighing on the broader market. Intel (INTC) closed down more than -5%, and Lam Research (LRCX), ARM Holdings Plc (ARM), Microchip Technology (MCHP), and Texas Instruments (TXN) closed down more than -4%. Also, Applied Materials (AMAT), KLA Corp (KLAC), Analog Devices (ADI), Advanced Micro Devices (AMD), Micron Technology (MU), and Marvell Technology (MRVL) closed down more than -3%.
Credit concerns weighed on bank stocks and asset managers on Thursday after Morgan Stanley and Cliffwater LLC capped withdrawals from their private credit funds amid investor demand to redeem more than the funds allow. Ares Management (ARES) closed down more than -6%, and
Goldman Sachs (GS) closed down more than -4% to lead losers in the Dow Jones Industrials. Also, Morgan Stanley (MS), KKR & Co (KKR), and Citigroup (C) closed down more than -3%.
The Magnificent Seven technology stocks fell on Thursday, pressuring the broader market. Tesla (TSLA) closed down more than -3%, and Meta Platforms (META) closed down more than -2%. Also, Alphabet (GOOGL), Apple (AAPL), Amazon.com (AMZN), and Nvidia (NVDA) closed down more than -1%, and Microsoft (MSFT) closed down -0.73%.
Fertilizer stocks rallied on Thursday amid supply disruptions from the closure of the Strait of Hormuz. CF Industries Holdings (CF) closed up more than +13% to lead gainers in the S&P 500. Also, Intrepid Potash (IPI) closed up more than +10%, and Mosaic (MOS) closed up more than +7%.
Energy producers and service providers rose on Thursday after crude prices jumped more than +9%. ConocoPhillips (COP), Chevron (CVX), Phillips 66 (PSX), and Valero Energy (VLO) closed up more than -2%. Also, APA Corp (APA), Devon Energy (DVN), Exxon Mobil (XOM), and Marathon Petroleum (MPC) closed up more than +1%.
Netskope (NTSK) closed down more than -21% after forecasting a Q1 adjusted net loss per share of -6 cents to -7 cents, wider than Q4’s -4 cent EPS loss.
G-III Apparel Group Ltd (GIII) closed down more than -11% after reporting Q4 net sales of $771.5 million, below the consensus of $791.8 million.
UiPath (PATH) closed down more than -7% after reporting Q4 subscription revenue of $251.2 million, below the consensus of $252.1 million.
Dollar General (DG) closed down more than -6% after giving an underwhelming 2027 comparable sales forecast of up +2.2% to +2.7%, the midpoint right on the consensus of +2.45%.
GlobalFoundries (GFS) closed down more than -5% after a subsidiary of Mubadala Investment Co. was said to sell as much as $852 million of its stake in the stock overnight at $41.60 to $42.60 per share.
MercadoLibre (MELI) closed down more than -4% after JPMorgan Chase downgraded the stock to neutral from overweight.
LyondellBasell Industries NV (LYB) closed up more than +10% after Citigroup upgraded the stock to buy from neutral with a price target of $76.
Dow Inc. (DOW) closed up more than +9% after Citigroup upgraded the stock to buy from neutral with a price target of $40.
Occidental Petroleum (OXY) closed up more than +5% after Wells Fargo Securities double upgraded the stock to overweight from underweight with a price target of $69.
Earnings Reports(3/13/2026)
4D Molecular Therapeutics Inc (FDMT), Actuate Therapeutics Inc (ACTU), AirSculpt Technologies Inc (AIRS), AlTi Global Inc (ALTI), American Vanguard Corp (AVD), Avidity Biosciences Inc (RNAM), Better Home & Finance Holding (BETR), Bit Digital Inc (BTBT), Blue Foundry Bancorp (BLFY), Buckle Inc/The (BKE), CapsoVision Inc (CV), Citizens Inc/TX (CIA), Emerald Holding Inc (EEX), Eve Holding Inc (EVEX), GoHealth Inc (GOCO), Gossamer Bio Inc (GOSS), John Marshall Bancorp Inc (JMSB), LENSAR Inc (LNSR), MeiraGTx Holdings plc (MGTX), NET Lease Office Properties (NLOP), Perma-Fix Environmental Services (PESI), Value Line Inc (VALU), Waldencast plc (WALD).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Slump on Iran War and Credit Woes

The S&P 500 Index ($SPX) (SPY) on Wednesday fell -0.08%, the Dow Jones Industrial Average ($DOWI) (DIA) fell -0.61%, and the Nasdaq 100 Index ($IUXX) (QQQ) rose +0.03%. March E-mini S&P futures (ESH26) fell -0.15%, and March E-mini Nasdaq futures (NQH26) fell -0.07%.
Stocks were undercut by Wednesday’s +6 bp rise in the 10-year T-note yield and the +4.6% rally in WTI crude oil prices. Crude oil prices rallied despite the IEA members' decision to release 400 million barrels from emergency oil stockpiles.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks saw downward pressure as the Iran war dragged on, with missiles hitting three vessels in the Strait of Hormuz and the Persian Gulf on Wednesday, and new missile volleys hitting Israel.
However, tech stocks received support from Oracle's positive AI news.
The oil market took in stride Wednesday’s decision by IEA members to release 400 million barrels of oil from strategic stockpiles, much larger than the 182 million-barrel release in 2022 following Russia's invasion of Ukraine. The release is designed to replace the oil lost due to the Strait of Hormuz shutdown and the subsequent production cuts by Persian Gulf oil producers, although it will take some time for the oil stockpiles to reach the market.
Stocks showed little net reaction to the CPI report, which was in line with market expectations. The Feb CPI rose +0.3% m/m and +2.4% y/y, while the Feb core CPI rose +0.2% m/m and +2.5% y/y. The headline CPI report of +2.4% y/y was just 0.1 point above the 5-year low posted in April 2025, while the core CPI of +2.5% y/y matched the 5-year low posted in the two previous months. Even though the CPI figures are at or near 5-year lows, they are still above the Fed’s target of +2%. Moreover, inflation pressures will worsen in the coming months due to the recent spike in oil and fuel prices caused by the war in Iran.
Stocks were undercut after JPMorgan Chase said it is restricting lending to private credit funds amid markdowns on some of its loans in the sector, hampering the sector's attempt to weather the current crisis. The $1.8 trillion private credit sector is struggling to cope with an investor exodus driven by unattractive returns and fears of more financial difficulties among portfolio borrowers.
Q4 earnings season is nearly over, with more than 95% of the S&P 500 companies having reported earnings results. Earnings have been a positive factor for stocks, with 74% of the 492 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 0% chance for a -25 bp FOMC rate cut at the next policy meeting on March 17-18.
Overseas stock markets closed mixed. The Euro Stoxx 50 is down -1.00%. China's Shanghai Composite closed up +0.25%. Japan's Nikkei Stock 225 closed up +1.43%, adding to Tuesday’s +2.88% recovery rally.
Interest Rates
June 10-year T-notes (ZNM6) fell -16 ticks. The 10-year T-note yield rose +6.0 bp to 4.216%, adding to Tuesday’s rise of +6 bp. T-note prices were undercut by Wednesday’s +4.6% rally in oil prices and the +3.2 bp rise in the 10-year inflation expectations rate to 2.383%. T-note prices were also undercut by supply overhang as the Treasury sold 10-year T-notes on Wednesday and will sell 30-year bonds on Thursday. The T-note market largely ignored the CPI report as stale news, given the surge in oil and fuel prices since the Iran war began.
European government bond yields rose sharply. The 10-year German bund yield rose +9.6 bp to 2.932%. The 10-year UK gilt yield rose +13.3 bp to 4.686%.
Swaps are discounting a 4% chance of a -25 bp ECB rate hike at its next policy meeting on March 19.
US Stock Movers
The Magnificent Seven technology stocks closed mixed, with Amazon.com (AMZN) falling -0.9%, but Tesla (TSLA) rising +2.1%.
Oracle (ORCL) rallied more than +9% after reporting strong results and guidance indicating strong demand for AI computing.
The Oracle news provided early support to the software and computing infrastructure sector, but most of those stocks fell back. Datadog (DDOG) rose more than +3%. However, IBM (IBM) fell -0.7%, and Microsoft (MSFT) fell -0.3%.
Chip stocks also saw some support from the Oracle news, led by gains of +4.1% in Micron Technology (MU), +3.2% in Align Technology (ALGN), and +2.6% in Intel (INTC). Nvidia (NVDA) rose +0.5%
Oil stocks saw support with the rally in oil prices. Valero Energy (VLO) rallied +6.5%, Marathon Oil (MPC) rallied +5.4%, and Occidental Petroleum (OXY) rallied +4.6%. Chevron (CVX) rose +3.0%, and Exxon (XOM) rose +2.3%.
Nike (NKE) gave up an early advance and closed down -0.7% after an upgrade from Barclays to overweight.
Campbell’s Co (CPB) fell nearly -7% after cutting its full-year earnings guidance.
UniFirst Corp (UNF) rallied more than +6% after Cintas agreed to buy the company in a deal worth $5.5 billion.
Earnings Reports(3/12/2026)
Dollar General Corp (DG), Ulta Beauty Inc (ULTA), Lennar Corp (LEN), Adobe Inc (ADBE).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Pressured by Higher Oil Prices, But Positive Oracle AI News Helps Tech Stocks

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.
Cash flow can come from bond interest, interest from other types of investments, and, of course, dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a metric that measures a dividend as a percent of the current stock price. Many academic studies show that dividends make up large portions of long-term returns, and in many cases, dividend contributions surpass one-third of total returns.
Valero Energy (VLO) is headquartered in San Antonio, and is in the Oils-Energy sector. The stock has seen a price change of 33.31% since the start of the year. Currently paying a dividend of $1.20 per share, the company has a dividend yield of 2.21%. In comparison, the Oil and Gas - Refining and Marketing industry's yield is 2.14%, while the S&P 500's yield is 1.43%.
Looking at dividend growth, the company's current annualized dividend of $4.80 is up 6.2% from last year. Over the last 5 years, Valero Energy has increased its dividend 3 times on a year-over-year basis for an average annual increase of 3.05%. Looking ahead, future dividend growth will be dependent on earnings growth and payout ratio, which is the proportion of a company's annual earnings per share that it pays out as a dividend. Valero Energy's current payout ratio is 42%, meaning it paid out 42% of its trailing 12-month EPS as dividend.
Looking at this fiscal year, VLO expects solid earnings growth. The Zacks Consensus Estimate for 2026 is $12.88 per share, with earnings expected to increase 21.39% from the year ago period.
Investors like dividends for a variety of different reasons, from tax advantages and decreasing overall portfolio risk to considerably improving stock investing profits. But, not every company offers a quarterly payout.
Big, established firms that have more secure profits are often seen as the best dividend options, but it's fairly uncommon to see high-growth businesses or tech start-ups offer their stockholders a dividend. Income investors must be conscious of the fact that high-yielding stocks tend to struggle during periods of rising interest rates. With that in mind, VLO is a compelling investment opportunity. Not only is it a strong dividend play, but the stock currently sits at a Zacks Rank of #3 (Hold).
Radical New Technology Could Hand Investors Huge Gains
Quantum Computing is the next technological revolution, and it could be even more advanced than AI.
While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.
Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.
Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.
See Top Quantum Stocks Now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Why Valero Energy (VLO) is a Great Dividend Stock Right Now

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.71%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.39%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.13%. March E-mini S&P futures (ESH26) rose +0.69%, and March E-mini Nasdaq futures (NQH26) rose +1.14%.
Stocks during the morning traded lower on an overnight spike in oil prices above $100 per barrel, but were then able to recover after President Trump told CBS News in a phone interview that "I think the war is very complete, pretty much" and that the military operation is "very far" ahead of its 4-5 week timeframe.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Oil prices on Monday initially spiked above $100 per barrel after Israel on Saturday bombed 30 Iranian fuel depots. In addition, Saudi Arabia became the latest Middle East oil producer to cut production as its local storage facilities near capacity. However, oil prices fell back later in the day after G-7 finance ministers pledged to release strategic oil reserves if necessary and after President Trump seemed to indicate that the Iran war might soon end.
In any case, there seems to be little chance that Iran will surrender after Iran's Assembly of Experts over the weekend appointed hardliner Mojtaba Khamenei as Iran's new supreme leader, the son of Ayatollah Ali Khamenei. Iran's new leader has close ties to Iran's powerful and entrenched Islamic Revolutionary Guard Corps (IRGC). President Trump said he is "not happy" with the choice of the new leader.
Stocks on Monday saw some ongoing worries about the US economy after last Friday's weak economic news that US Feb payrolls fell by -92,000 and US Jan retail sales fell by -0.2% m/m.
Q4 earnings season is nearly over, with more than 95% of the S&P 500 companies having reported earnings results. Earnings have been a positive factor for stocks, with 74% of the 492 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 4% chance for a -25 bp rate cut at the next policy meeting on March 17-18.
Overseas stock markets fell on Monday amid the early spike in oil prices. The Euro Stoxx 50 closed down -0.61%. China's Shanghai Composite on Monday closed down -0.7%. Japan's Nikkei Stock 225 closed sharply lower by -5.2%.
Interest Rates
June 10-year T-notes (ZNM6) on Monday rose by +5 ticks, reversing early losses. The 10-year T-note yield fell -3.3 bp to 4.105%. T-note prices recovered morning losses sparked by the early spike in oil prices, which was inflationary and hawkish for Fed policy. In a bullish factor for T-note prices, the 10-year breakeven inflation expectations rate on Monday fell -1.4 bp to 2.338%.
European government bond yields were mixed. The 10-year German bund yield fell -0.1 bp to 2.859%. The 10-year UK gilt yield rose +2.0 bp to 4.647%.
Swaps are discounting an 8% chance of a -25 bp rate hike by the ECB at its next policy meeting on March 19.
US Stock Movers
The Magnificent Seven technology stocks all closed in positive territory, led by gains of more than +2% in Nvidia (NVDA) and Alphabet (GOOGL).
Oil stocks closed the day mixed after the gyrations in oil prices. Valero Energy (VLO) closed the day down more than -3%, and Marathon Oil (MPC) closed the day down more than -2%. Exxon (XOM) fell -0.51%, and Chevron (CVX) fell -0.26%.
Airline stocks rallied on short covering after President Trump indicated that the Iran war might soon end. United Airlines Holdings (UAL), Delta Air Lines (DAL), and American Airlines Group (AAL) all rose more than +2%.
Defense stocks mostly fell after Mr. Trump indicated that the Iran war might end soon. Northrop Grumman (NOC), Lockheed Martin (LMT), and AeroVironment (AVAV) all fell more than -1%.
Hims & Hers Health (HIMS) closed +40.79% higher after Novo confirmed it will sell Wegovy and Ozempic on the Hims & Hers platform.
Live Nation Entertainment (LYV) rallied more than +6% after Politico reported an antitrust settlement with the US Department of Justice under which the company will pay $200 million in damages.
Earnings Reports(3/9/2026)
Casey's General Stores Inc (CASY), Hewlett Packard Enterprise Co (HPE), Vail Resorts Inc (MTN).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Close Higher After President Trump says Iran War is "Pretty Much" Complete

Canadian Natural Resources Limited CNQ reported fourth-quarter 2025 adjusted earnings per share of 59 cents, which beat the Zacks Consensus Estimate of 53 cents. However, the bottom line decreased from 66 cents in the year-ago quarter. The underperformance can be attributed to lower realized oil and natural gas liquid (NGL) prices.
Total revenues of $6.9 billion increased from $6.8 billion in the prior-year period, fueled by increased production volumes. Additionally, the figure beat the Zacks Consensus Estimate of $6.6 billion.
Canadian Natural Resources Limited Price, Consensus and EPS Surprise
On March 5, CNQ’s board of directors approved a 6.4% increase to its quarterly cash dividend to 62.5 Canadian cents per common share. The dividend will be payable on April 7, 2026, to its shareholders of record as of the close of business on March 20. This marks the company's continued commitment to returning value to its shareholders.
This commitment is further evidenced by CNQ's impressive track record of growing and sustaining its dividend for 26 years, boasting a remarkable 20% annual growth rate over that period.
In the fourth quarter of 2025, the company returned around C$2.7 billion directly to its shareholders. This included C$1.2 billion in dividends, C$0.3 billion from the repurchase and C$1.2 billion through reduction in the company's net debt.
The oil and gas exploration and production company delivered strong financial results in the fourth quarter of 2025, highlighted by net earnings of approximately C$5.3 billion. Furthermore, CNQ reported robust adjusted net earnings from operations of approximately C$1.7 billion. This strong performance was also reflected in CNQ's cash flow. Cash flows from operating activities totaled approximately C$3.8 billion, and adjusted funds flow also reached approximately C$3.8 billion.
Up to Dec. 31, 2025, the Calgary-based company delivered significant returns to its shareholders, amounting to approximately C$9 billion. This total was composed of C$4.9 billion in dividends, C$1.4 billion through the repurchase and C$2.7 billion in net debt reduction.
CNQ’s Q4 Production & Prices
Canadian Natural reported quarterly production of 1,658,681 barrels of oil equivalent per day (Boe/d), up 13% from the prior-year quarter’s level. The figure beat our estimate of 1,646,976Boe/d.
The oil and NGL output (accounting for around 73% of total volumes) increased to 1,215,364barrels per day (Bbl/d) from 1,090,002 Bbl/d recorded a year ago. The figure beat our estimate of 1,202,722Bbl/d.
Natural gas volumes totaled 2,660 million cubic feet per day (MMcf/d), up 16.5% from the 2,283 MMcf/d recorded in the year-ago period. However, the figure lagged our estimate of 2,696 MMcf/d.
Natural gas production in North America reached 2,657 MMcf/d in the fourth quarter of 2025 compared with 2,273 MMcf/d in the fourth quarter of 2024. However, the figure missed our estimate of 2,693 MMcf/d.
Exploration and production activities in North America, not including thermal in situ methods, reported an average output of 294,315 Bbl/d. This indicates a 24% year-over-year increase during this quarter. Meanwhile, thermal in situ production volume decreased to 266,308 Bbl/d from 271,551 Bbl/d recorded a year ago. The figure also missed our model projection of 276,231 Bbl/d.
The Oil Sands Mining and Upgrading operations in North America reported an average output of 619,901 Bbl/d of synthetic crude oil. This represented a 15.9% increase from the prior-year quarter’s levels of 534,631 Bbl/d.
The realized natural gas price increased 43% to C$2.89 per thousand cubic feet from the year-ago level of C$2.02. The realized oil and NGL price decreased 14.4% to C$64.42 per barrel from C$75.22 in the fourth quarter of 2024.
The company also achieved industry-leading operating costs for Oil Sands Mining and Upgrading, amounting to C$21.84 per barrel in the fourth quarter of 2025.
On Nov. 1, 2025, Canadian Natural closed the AOSP asset swap with Shell and now owns and operates 100% of the Albian oil sands mines and associated reserves. The deal adds 31,000 bbl/d of stable bitumen output to the company’s Oil Sands Mining and Upgrading portfolio.
CNQ’s Q4 Costs & Capital Expenditure
Total expenses in the quarter were C$2.8 billion, significantly down from C$7.9 billion recorded in the year-ago period. The decrease was mainly backed by gains on acquisitions, dispositions and remeasurements by the company.
Capital expenditure totaled C$1.2 billion compared with C$10.3 billion a year ago.
CNQ’s Balance Sheet
As of Dec. 31, 2025, CNQ had cash and cash equivalents worth C$673 million and long-term debt of approximately C$16.2 billion, with a debt to capitalization of about 26.7%.
CNQ’s 2026 Guidance
On Dec. 16, 2025, CNQ issued its 2026 budget but updated some of its points in the fourth-quarter earnings. Its updated 2026 guidance reflects a focus on disciplined capital spending, production growth and operational efficiency. The company reduced its forecasted operating capital expenditures by approximately C$310 million to about C$5.99 billion, primarily driven by efficiency gains in development programs and the deferral of front-end engineering and design spending for the Jackpine mine expansion project at Albian amid regulatory uncertainty. Including acquisitions, total capital expenditures are expected to reach about $6.88 billion, reflecting roughly $765 million in asset purchases in the Peace River area of Alberta.
On the operational front, CNQ increased its 2026 production guidance to a range of 1,615-1,665 MBOE/d, up from the previous outlook of 1,590-1,650 MBOE/d, supported by recent acquisitions and ongoing development across its asset base. Production is expected to include 2,560-2,615 MMcf/d of natural gas and 1,188-1,229 Mbbl/d of total liquids, highlighting the company’s continued growth strategy across conventional E&P, thermal and oil sands mining operations.
CNQ currently carries a Zacks Rank #5 (Strong Sell).
Important Earnings at a Glance
While we have discussed CNQ’s fourth-quarter results in detail, let us take a look at three other key reports in this space.
Valero Energy Corporation VLO posted fourth-quarter 2025 adjusted earnings of $3.82 per share, which beat the Zacks Consensus Estimate of $3.22. The bottom line improved from the year-ago quarter’s level of 64 cents. VLO’s better-than-expected quarterly results can be mainly attributed to a surge in refining margins, higher ethanol production volumes and lower total cost of sales.
Valero Energy had cash and cash equivalents of $4.7 billion at the end of the fourth quarter. As of Dec. 31, 2025, the leading independent refiner and marketer of transportation fuels and petrochemical products had total debt of $8.3 billion and finance lease obligations of $2.4 billion.
Baker Hughes Company BKR posted fourth-quarter 2025 adjusted earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 67 cents. The bottom line also increased from the year-ago level of 70 cents. The strong quarterly results were primarily driven by solid performance from BKR’s Industrial & Energy Technology business segment.
Baker Hughes Company’s net capital expenditure in the fourth quarter was $321 million. As of Dec. 31, 2025, it had cash and cash equivalents of $3.7 billion. The Houston, TX-based oil and gas equipment and services provider had a long-term debt of $5.4 billion at the end of the reported quarter, with a debt-to-capitalization of 24.3%.
Halliburton Company HAL posted fourth-quarter 2025 adjusted net income per share of 69 cents, beating the Zacks Consensus Estimate of 54 cents. The outperformance primarily reflects successful cost reduction initiatives. However, HAL’s bottom line marginally fell from the year-ago adjusted profit of 70 cents due to softer activity in the North American region.
Halliburton reported fourth-quarter capital expenditure of $337 million, well below our projection of $390.4 million. As of Dec. 31, 2025, the Houston, TX-based oil and gas equipment and services provider had approximately $2.2 billion in cash and cash equivalents, and $7.2 billion in long-term debt, representing a debt-to-capitalization ratio of 40.5.
5 Stocks Set to Double
Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
Today, See These 5 Potential Home Runs >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Canadian Natural Q4 Earnings Beat Estimates, Expenses Decrease Y/Y

Pembina Pipeline Corporation PBA reported fourth-quarter 2025 earnings per share of 56 cents, which beat the Zacks Consensus Estimate of 50 cents. This improvement was primarily driven by strong performance in the company’s Facilities segment. PBA’s Facilities volume for the period was 898 thousand barrels of oil equivalent per day (mboe/d), beating the consensus expectation of 749 mboe/d. However, the bottom line decreased from the year-ago quarter’s level of 66 cents.
Calgary-based oil and gas storage and transportation company’s quarterly revenues of $1.4 billion decreased about 10.5% year over year. This was caused by weak year-over-year revenue performance in the Pipelines and Marketing & New Ventures segments. However, the metric beat the Zacks Consensus Estimate by 22.9%.
Pembina Pipeline Corp. Price, Consensus and EPS Surprise
The company’s operating cash flow decreased approximately 4.5% to C$861 million. Adjusted EBITDA decreased 14.3% year over year to C$1.1 billion.
Pembina’s board of directors declared a quarterly cash dividend of 71 Canadian cents per share to its common shareholders of record as of March 16. The payout will be paid on March 31, 2026.
In the fourth quarter, the oil and gas storage and transportation company witnessed volumes of 4,050 mboe/d compared with 4,016 mboe/d reported in the prior-year quarter.
PBA’s Segmental Information
Pipelines: Adjusted EBITDA of C$643 million decreased about 6.3% from the year-ago quarter’s level. This was primarily due to lower operating expenses on the Cochin Pipeline, reduced revenues from the Canadian segment of the Alliance Pipeline, caused by lower long-term firm tolls and the effects of a new revenue-sharing agreement (effective Nov. 1, 2025) with shippers and stakeholders, and a decline in interruptible volumes on the Cochin Pipeline due to narrower condensate price differentials.
Volumes in this segment also saw a 0.9% year-over-year increase to 2,815 mboe/d.
Facilities: Adjusted EBITDA of C$366 million decreased from the year-ago quarter’s C$373 million, primarily due to lower revenue contributions from period-specific capital recoveries recognized in the fourth quarter of 2024 on certain assets at PGI, along with higher operating expenses.
Volumes of 898 mboe/d increased about 2.4% year over year.
Marketing & New Ventures: Adjusted EBITDA of C$116 million decreased from the year-ago quarter’s C$118 million. This decrease resulted from tighter NGL frac spreads and lower realized gains on crude oil-based derivatives, caused by reduced volumes and narrower price spreads.
Volumes of 337 mboe/d decreased about 3.4% year over year.
PBA’s Capital Expenditure & Balance Sheet
Pembina spent C$235 million as capital expenditure in the quarter under review compared with C$242 million a year ago.
As of Dec. 31, 2025, PBA had cash and cash equivalents worth C$106 million and C$19.6 billion in long-term debt. Debt-to-capitalization was 53.9%.
PBA’s 2026 Guidance
This Zacks Rank #3 (Hold) company expects 2026 adjusted EBITDA to be in the range of C$4.13 billion to C$4.43 billion.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Important Earnings at a Glance
While we have discussed PBA’s fourth-quarter results in detail, let us take a look at three other key reports in this space.
Valero Energy Corporation VLO posted fourth-quarter 2025 adjusted earnings of $3.82 per share, which beat the Zacks Consensus Estimate of $3.22. The bottom line improved from the year-ago quarter’s level of 64 cents. The better-than-expected quarterly results can be mainly attributed to a surge in refining margins, higher ethanol production volumes and lower total cost of sales.
Valero Energy had cash and cash equivalents of $4.7 billion at the end of the fourth quarter. As of Dec. 31, 2025, the leading independent refiner and marketer of transportation fuels and petrochemical products had total debt of $8.3 billion and finance lease obligations of $2.4 billion.
Baker Hughes CompanyBKR posted fourth-quarter 2025 adjusted earnings of 78 cents per share, which beat the Zacks Consensus Estimate of 67 cents. The bottom line also increased from the year-ago level of 70 cents. The strong quarterly results were primarily driven by solid performance from BKR’s Industrial & Energy Technology business segment.
Baker Hughes Company’s net capital expenditure in the fourth quarter was $321 million. As of Dec. 31, 2025, it had cash and cash equivalents of $3.7 billion. Houston, TX-based oil and gas equipment and services provider had a long-term debt of $5.4 billion at the end of the reported quarter, with a debt-to-capitalization of 24.3%.
Halliburton Company HAL posted fourth-quarter 2025 adjusted net income per share of 69 cents, beating the Zacks Consensus Estimate of 54 cents. The outperformance primarily reflects successful cost reduction initiatives. However, the bottom line marginally fell from the year-ago adjusted profit of 70 cents due to softer activity in the North American region.
Halliburton reported fourth-quarter capital expenditure of $337 million, well below our projection of $390.4 million. As of Dec. 31, 2025, the Houston, TX-based oil and gas equipment and services provider had approximately $2.2 billion in cash and cash equivalents, and $7.2 billion in long-term debt, representing a debt-to-capitalization ratio of 40.5.
Free Report: Profiting from the 2nd Wave of AI Explosion
The next phase of the AI explosion is poised to create significant wealth for investors, especially those who get in early. It will add literally trillion of dollars to the economy and revolutionize nearly every part of our lives.
Investors who bought shares like Nvidia at the right time have had a shot at huge gains.
But the rocket ride in the "first wave" of AI stocks may soon come to an end. The sharp upward trajectory of these stocks will begin to level off, leaving exponential growth to a new wave of cutting-edge companies.
Zacks' AI Boom 2.0: The Second Wave report reveals 4 under-the-radar companies that may soon be shining stars of AI’s next leap forward.
Access AI Boom 2.0 now, absolutely free >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Pembina Pipeline Q4 Earnings and Revenues Beat Estimates

The energy sector has remained a safe-haven as the U.S and Israel’s conflict with Iran continues to escalate. Geopolitical tensions in the Middle East have led to broader market volatility, with crude oil prices rising because the Iran conflict has created a sudden and significant risk of supply disruption, especially around the Strait of Hormuz, the world’s most critical oil chokepoint.
Even though Iran produces only a modest share of global crude, its geographic position gives it enormous leverage over global flows.
Keeping this in mind, the energy sector is the top-performing sector this year, boosted by a nearly 30% surge in crude prices amid disruptions in the Middle East. Notably, the performance of the broader Zacks Oils & Energy Market is not too far behind, impressively outperforming the S&P 500’s virtually flat YTD return and the Nasdaq’s decline of 3%.
Image Source: Yahoo Finance
Big Oil Stocks are at 52-week Highs
Energy stocks with the strongest upside from the Iran conflict are those most leveraged to crude oil price spikes and potential supply disruptions through the Strait of Hormuz. The conflict has already pushed Brent and WTI crude prices to multi-month highs of over $70 a barrel, and investors have rotated heavily into large-cap integrated oil companies, U.S. shale producers, and refiners.
It’s no surprise that Chevron CVX and Exxon Mobil XOM have led the wave of integrated oil stocks reaching 52-week highs, having international operations that span the entire value chain of oil production, refining, and distribution. Occidental Petroleum OXY is another integrated oil producer that has recently seen its stock hit a new one-year peak and trades at a more affordable price tag of $53 a share, although its shale production is primarily in the U.S.
Regarding oil refiners, Marathon Petroleum MPC, Phillips 66 PSX , and Valero Energy VLO are noteworthy names that are near 52-week peaks as well.
All of these big oil stocks currently land a Zacks Rank #3 (Hold), with it noteworthy that Chevron and Phillips 66 stand out with annual dividend yields that are above 3%.
Image Source: Zacks Investment Research
A Zacks Rank #1 (Strong Buy) Stock to Consider
Sporting a Zacks Rank #1 (Strong Buy), TechnipFMC FTI looks poised to benefit from the oil disruption in the Middle East as a leading manufacturer and supplier of products, services, and fully integrated technology solutions for the energy sector.
The company benefits when oil companies increase capital spending on offshore and subsea projects, which typically happens when oil prices rise. TechnipFMC is diversified globally but is less exposed to direct Middle East operational risk. Ultimately, higher long-term oil prices generally support more subsea investment, which is TechnipFMC’s core business.
TechnipFMC stock is trading near a 52-week high of $68 but is still reasonably valued at 24X forward earnings, with EPS expected to rise 14% this year and projected to leap another 19% in fiscal 2027 to $3.34. Plus, EPS revisions have continued to trend higher in the last 30 days, as shown below.
Image Source: Zacks Investment Research
Bottom Line & What to Watch Next
Investors may be gravitating toward the energy sector as a temporary hideout because it offers a combination of defensive characteristics, strong fundamentals, and geopolitical tailwinds that stand out in a volatile market environment. Several forces are pushing capital into energy right now, and together they make the sector feel comparatively safer than high-beta or richly valued areas of the market.
That said, here are five key points that investors will want to watch going forward.
1. Whether tanker traffic through the Strait of Hormuz slows further
2. OPEC+ production responses
3. Duration and escalation of the conflict
4. U.S. SPR (Strategic Petroleum Reserve) policy changes
5. Production and refining margins if crude volatility persists
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. Little-known AI firms tackling the world's biggest problems may be more lucrative in the coming months and years.
See
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Hideout in the Energy Sector? Here are the Top Oil Stocks to Watch

The S&P 500 Index ($SPX) (SPY) on Monday closed up +0.04%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.15%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.13%. March E-mini S&P futures (ESH26) fell -0.01%, and March E-mini Nasdaq futures (NQH26) rose +0.08%.
Stock indexes settled mixed on Monday, with the Dow Jones Industrial Average falling to a 2-month low, and the S&P 500 and Nasdaq 100 recovering from 1.5-week lows.
Join 200K+ Subscribers: Find out why the midday Barchart Brief newsletter is a must-read for thousands daily.
Stocks recovered from early losses on Monday on dip buying and after the Feb ISM manufacturing index expanded more than expected. Also, the war in Iran sparked rallies in defense stocks and energy producers on Monday, lifting the broader market.
Stocks initially moved lower on Monday after the US and Israel launched joint military attacks on Iran. President Trump said that combat operations could last for weeks until all objectives were completed. President Trump has called for Iran’s leaders to capitulate, but Iran’s security chief said that it has no intention of negotiating with the US.
The war in Iran has prompted risk-off sentiment in asset markets and spurred safe-haven demand for precious metals, with gold prices climbing to 1-month highs. Bond yields initially fell on news of a war with Iran amid safe-haven demand, but have since risen sharply, with the 10-year T-note yield up +11 bp to 4.05% amid concern that high oil prices will stoke faster inflation.
WTI crude oil soared more than +6% to an 8.25-month high on Monday as tanker traffic through the Strait of Hormuz, which runs along Iran's coast and handles a fifth of the world's oil, has largely halted after Iran attacked three oil tankers. Iran pumps about 3.3 million bpd, or about 3% of global output, but it is strategically important given its location along the Strait of Hormuz. Goldman Sachs estimates the real-time risk premium for crude oil at $18/bbl, corresponding to its estimate of the impact of a six-week full halt to tanker traffic in the Strait of Hormuz.
The US Feb ISM manufacturing index fell -0.2 to 52.4, stronger than expectations of 51.5. The Feb ISM prices paid sub-index rose +11.5 to a 3.5-year high of 70.5, stronger than expectations of 60.0.
This week's market focus will be on US-Iran war news, corporate earnings, and economic news. On Wednesday, the Feb ADP employment change is expected to increase by +40,000. Also, the Feb ISM services index is expected to slip by -0.3 to 53.5. In addition, the Fed releases its Beige Book. On Thursday, weekly initial unemployment claims are expected to increase by +3,000 to 215,000. Also, Q4 nonfarm productivity is expected to be up +1.8%, and Q4 unit labor costs are expected to be up +2.0%. On Friday, Feb nonfarm payrolls are expected to increase by +60,000, and the Feb unemployment rate is expected to remain unchanged at 4.3%. Also, Feb average hourly earnings are expected to increase by +0.3% m/m and +3.7% y/y. In addition, Feb retail sales are expected to fall -0.3% m/m and Feb retail sales ex-autos are expected to remain unchanged m/m.
Q4 earnings season is nearing its end, with more than 90% of the S&P 500 companies having reported earnings results. Earnings have been a positive factor for stocks, with 73% of the 481 S&P 500 companies that have reported beating expectations. According to Bloomberg Intelligence, S&P earnings growth is expected to climb by +8.4% in Q4, marking the tenth consecutive quarter of year-over-year growth. Excluding the Magnificent Seven megacap technology stocks, Q4 earnings are expected to increase by +4.6%.
The markets are discounting a 2% chance for a -25 bp rate cut at the next policy meeting on March 17-18.
Overseas stock markets settled mixed on Monday. The Euro Stoxx 50 fell to a 1.5-week low and closed down -2.47%. China’s Shanghai Composite climbed to a 1.5-month high and closed up +0.47%. Japan’s Nikkei Stock 225 closed down -1.35%.
Interest Rates
June 10-year T-notes (ZNM6) on Monday closed down by -23.5 ticks. The 10-year T-note yield rose +10.6 bp to 4.046%. June T-notes fell from a contract high and turned lower on Monday, and the 10-year T-note yield rebounded from an 11.75-month low of 3.922% and moved sharply higher. T-notes initially rallied on Monday on increased safe-haven demand as stock index futures sold off after the US attacked Iran. However, T-notes gave up their gains and turned lower after WTI crude oil soared to an 8.25-month high, which raised inflation expectations, as the 10-year breakeven inflation rate rose to a 1-week high of 2.300%. Losses in T-notes accelerated on Monday after the Feb ISM prices paid sub-index jumped to a 3.5-year high, signaling sticky price pressures.
European government bond yields moved higher on Monday. The 10-year German bund yield rose +6.9 bp to 2.712%. The 10-year UK gilt yield climbed to a 1-week high of 4.383% and finished up +14.1 bp to 4.374%.
German Jan retail sales fell -0.9% m/m, weaker than expectations of unchanged m/m and the biggest decline in 19 months.
Swaps are discounting a 1% chance of a -25 bp rate cut by the ECB at its next policy meeting on March 19.
US Stock Movers
Defense stocks moved higher on Monday as the war in Iran boosts their earnings prospects. Northrop Grumman (NOC) closed up more th +5%, and RTX Corp (RTX) closed up more than +4%. Also, Lockheed Martin (LMT) and L3Harris Technologies (LHX) closed up more than +3%. In addition, Huntington Ingalls Industries (HII) and General Dynamics (GD) closed up more than +2%.
Energy producers and energy service providers rallied on Monday as WTI crude (CLJ26) rose more than +6% to an 8.25-month high. Marathon Petroleum (MPC) and Valero Energy (VLO) closed up more than +5%, and APA Corp (APA) and ConocoPhillips (COP) closed up more than +4%. Also, Devon Energy (DVN) and Phillips 66 (PSX) closed up more than +3%, and Diamondback Energy (FANG) and Occidental Petroleum (OXY) closed up more than +2%. In addition, Chevron (CVX) and Exxon Mobil (XOM) closed up more than +1%.
Cryptocurrency-exposed stocks rallied on Monday after Bitcoin (^BTCUSD) rose more than +5%. Strategy (MSTR) closed up more than +6% to lead gainers in the Nasdaq 100. Also, MARA Holdings (MARA) closed up more than +6%, and Galaxy Digital Holdings (GLXY) and Coinbase Global (COIN) closed up more than +5%. In addition, Riot Platforms (RIOT) closed up +0.86%.
Chipmakers and AI-infrastructure stocks sold off on Monday, a negative factor for the overall market. Seagate Technology Holdings Plc (STX) closed down more than -6% to lead losers in the Nasdaq 100, and Western Digital (WDC) closed down more than -3%. Also, ASML Holding NV (ASML) and ARM Holdings Plc (ARM) closed down more than -2%, and Lam Research (LRCX), Marvell Technology (MRVL), NXP Semiconductors NV (NXPI), Advanced Micro Devices (AMD), Qualcomm (QCOM), and Texas Instruments (TXN) closed down more than -1%.
Airline stocks were under pressure Monday as crude oil prices surged by more than +6% to an 8.25-month high, which will boost jet fuel prices and potentially cut into airlines’ profits. American Airlines Group (AAL) closed down more than -4%, and United Airlines Holdings (UAL) closed down more than -3%. Also, Delta Air Lines (DAL) and Southwest Airlines (LUV) closed down more than -2%.
Cruise line operators slid on Monday, led by a -10% decline in Norwegian Cruise Line Holdings (NCLH) after forecasting full-year EPS of $2.38, weaker than the consensus of $2.59. Also, Carnival (CCL) closed down more than -6%, Viking Holdings Ltd (VIK) closed down more than -4%, and Royal Caribbean Cruises Ltd (RCL) closed down more than -2%.
Homebuilders retreated on Monday after the 10-year T-note yield rose more than +11 bp, which will push mortgage rates higher and may curb home sales prospects. KB Home (KBH), Lennar (LEN), and DR Horton (DHI) closed down more than -3%. Also, PulteGroup (PHM) closed down more than 2%, and Toll Brothers (TOL) closed down more than -1%.
UniQure (QURE) closed down more than -32% after US regulators said the company should conduct a pivotal study before getting approval for its gene therapy for Huntington’s disease.
AES Corp (AES) closed down more than -17% to lead losers in the S&P 500 after agreeing to be acquired by a consortium led by Global Infrastructure Partners and EQT for $15 per share in cash.
Elevance Health (ELV) closed down more than -7% after it said the US government plans to suspend enrollment in its Medicare Advantage Prescription Drug plans as of March 31, unless compliance issues are resolved.
Coherent (COHR) closed up more than +16% and Lumentum Holdings (LITE) closed up more than +12% after Nvidia said it is investing $2 billion in each company.
RadNet (RDNT) closed up more than +8% after reporting Q4 revenue of $547.7 million, better than the consensus of $515.4 million.
EchoStar Corp (SATS) closed up more than +3% after reporting Q4 revenue of $3.80 billion, above the consensus of $3.77 billion.
Earnings Reports(3/3/2026)
AutoZone Inc (AZO), Best Buy Co Inc (BBY), CrowdStrike Holdings Inc (CRWD), Gitlab Inc (GTLB), On Holding AG (ONON), Ross Stores Inc (ROST), Thor Industries Inc (THO), Versant Media Group Inc (VSNT), Viking Holdings Ltd (VIK).
On the date of publication, Rich Asplund did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
More news from Barchart
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Stocks Recover as Iran War Pushes Energy and Defense Stocks Higher

Looking at options trading activity among components of the S&P 500 index, there is noteworthy activity today in CF Industries Holdings Inc (Symbol: CF), where a total volume of 11,443 contracts has been traded thus far today, a contract volume which is representative of approximately 1.1 million underlying shares (given that every 1 contract represents 100 underlying shares). That number works out to 48.6% of CF's average daily trading volume over the past month, of 2.4 million shares. Particularly high volume was seen for the $110 strike call option expiring March 20, 2026, with 1,805 contracts trading so far today, representing approximately 180,500 underlying shares of CF. Below is a chart showing CF's trailing twelve month trading history, with the $110 strike highlighted in orange:
Target Corp (Symbol: TGT) saw options trading volume of 31,024 contracts, representing approximately 3.1 million underlying shares or approximately 48.2% of TGT's average daily trading volume over the past month, of 6.4 million shares. Especially high volume was seen for the $110 strike put option expiring March 20, 2026, with 5,716 contracts trading so far today, representing approximately 571,600 underlying shares of TGT. Below is a chart showing TGT's trailing twelve month trading history, with the $110 strike highlighted in orange:
And Valero Energy Corp (Symbol: VLO) options are showing a volume of 12,095 contracts thus far today. That number of contracts represents approximately 1.2 million underlying shares, working out to a sizeable 45.2% of VLO's average daily trading volume over the past month, of 2.7 million shares. Particularly high volume was seen for the $180 strike put option expiring April 17, 2026, with 3,004 contracts trading so far today, representing approximately 300,400 underlying shares of VLO. Below is a chart showing VLO's trailing twelve month trading history, with the $180 strike highlighted in orange:
For the various different available expirations for CF options, TGT options, or VLO options, visit StockOptionsChannel.com.
Also see:
Institutional Holders of GFIG
Top Ten Hedge Funds Holding WDNA
MIAX Options Chain
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.