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Market Snapshot

📉 Banana Bits

• Global stocks rebounded on hopes of de-escalation, capping a weak month.

• Mortgage rates climbed again, with 30-year loans reaching 6.61%.

• Oil spiked to $118 after Trump’s comments, pushing fuel costs higher.

• The Iran war has rattled markets, with impacts visible across key indicators.

• Wall Street surged as traders bet on a possible off-ramp to the conflict.

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Market News

Markets Rebound Amid Political Uncertainty

Markets were volatile as investors reacted to changing news around tensions in the Middle East.

U.S. stocks rose, with the S&P 500 and Nasdaq climbing on hopes that tensions with Iran could ease. At the same time, oil prices stayed high, remaining above $100 per barrel, which continues to raise concerns about inflation.

Because of this, investors are becoming less confident that the Federal Reserve will cut interest rates anytime soon. Treasury yields moved up, reflecting expectations that interest rates could stay higher for longer.

Looking at broader trends, today’s market shows how much global markets are reacting to geopolitical news and changes in oil prices.

Performance has been mixed, with U.S. stocks rising while some international markets lag behind. Investors are paying close attention to how higher energy prices could affect company profits, consumer spending, and economic growth.

There are also early signs that borrowing conditions are tightening, which could make it harder for companies to raise capital. Even with these challenges, deal activity is still holding up, especially as private equity firms continue to invest. Overall, markets are balancing short-term uncertainty with longer-term optimism.

Peel Take: Markets are rallying on hopes that geopolitics might settle down, even as oil prices and yields suggest things aren’t exactly under control. Investors seem willing to stay optimistic, just not enough to ignore the risks completely. It’s less “all clear” and more “let’s see how this plays out.”

What's Ripe

Meta Platforms (META) 6.7%

• META announced new AI-powered smart glasses, boosting excitement around future growth. Part of the broader tech rally as markets rebounded sharply.

• The market momentum for these glasses, particularly with the integration of AI models like Llama, positions them as a significant part of Meta's future growth strategy.

• Peel Take: Meta is once again pitching a future beyond social media, this time with AI-powered smart glasses. Investors are buying into the vision for now, even if it’s still unclear whether this will become a game-changer or just another gadget.

NVIDIA (NVDA) 5.6%

• NVDA and broader tech stocks rallied as investors became more optimistic about easing geopolitical tensions, and continued strong demand for AI infrastructure and chips bolstered investor confidence.

• A major catalyst at the end of March 2026 was NVIDIA's $2 billion investment in Marvell Technology to expand its AI factory ecosystem, which helped drive a 5%-6% jump in NVDA shares.

• Peel Take: NVIDIA continues to ride the AI wave, with fresh investments and easing geopolitical worries keeping the momentum alive. At this point, as long as AI demand holds up, NVDA remains the market’s favorite trade.

What's Rotten

Constellation Energy (CEG) 6.5%

• Constellation Energy failed to announce new data center deals at a closely watched investor update in early 2026.

• CEO Joseph Dominguez acknowledged the delay, stating that a "significant transaction" expected to be finalized by the time of the call was not ready to be announced.

• Peel Take: Investors were waiting for a big data center deal and got a “not yet” instead. In a market that loves AI-linked growth stories, delays like this don’t exactly inspire confidence.

McCormick & Company (MKC) 6.1%

• MKC shares dropped as investors reacted negatively to the merger news with Unilever’s food business. Concerns about deal structure and future ownership diluted sentiment.

• Investors expressed concern that McCormick (market cap ~ $14 billion) was taking on too much complexity, debt, and dilution to acquire a massive, slow-growth division (valued at ~ $45 billion).

• Peel Take: Investors weren’t sold on the deal, worrying McCormick might be biting off more than it can chew. A massive, slow-growth acquisition with added complexity? Not exactly the recipe the markets were hoping for.

🧠 Technical Trip

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🦈 Deal Dispatch

M&A, IPOs, And Other Notable Transactions

• Artisan Partners backed Unilever’s plan to sell its food unit.

• Big pharma is still deal-hunting but with smaller targets in focus.

• Large M&A deals are seeing strong demand, with EA pricing an $18B transaction.

• Bank of Hope will acquire SMBC MANUBANK’s commercial banking unit in cash.

• Cary Street Partners expanded further with a move into Palm Beach.

Banana Brain Teaser

Previous

If Jake loses 8 pounds, he will weigh twice as much as his sister. Together they now weigh 278 pounds. What is Jake’s present weight, in pounds?

Answer: 188

Today

Jackie has two solutions that are 2% sulfuric acid and 12% sulfuric acid by volume, respectively. If these solutions are mixed in appropriate quantities to produce 60 liters of a solution that is 5% sulfuric acid, approximately how many liters of the 2% solution will be required?

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Happy Investing,
Chris, Vyom, Ankit, Mitchell, Fernanda, & Patrick

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