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Trump Calls It Progress
Trump said Iran is backing down while floating the idea of seizing oil.
Ankit Sinha
March 30, 2026
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Market Snapshot
📉 Banana Bits
The RBA is bracing for an oil shock, with Westpac seeing rates at a 17-year high.
Trump said Iran is backing down while floating the idea of seizing oil.
Japan’s FX warnings and rising oil helped lift the yen.
Gold held near $4,500 as the Iran war dragged into week five.
The Houthis joined the conflict, demanding a halt to strikes.
Russia halted gasoline exports as domestic prices surged.
Market News
Geopolitics Takes Control
Stocks logged their longest weekly losing streak since 2022 as escalating tensions in the Iran conflict rattled global markets and sent oil prices surging.
The S&P 500 fell 1.7% on Friday, extending losses for the week, while the Nasdaq 100 slid more than 10% from its recent peak, officially entering correction territory.
Brent crude climbed above $112 a barrel after the U.S. and Israel struck Iranian nuclear and steel facilities, prompting retaliatory attacks across the Persian Gulf and raising fears of a prolonged conflict that could disrupt energy supply.
Markets were also rattled by concerns that higher oil prices will feed into inflation just as economic growth begins to cool. Short-dated Treasuries outperformed longer maturities as investors sought safety, while the yen weakened to around 160 per dollar, reigniting speculation that Japanese authorities may intervene in currency markets.
Meanwhile, U.S. consumer sentiment dropped to a three-month low, and inflation expectations rose as households braced for higher fuel costs.
Strategists say the growing risk of an energy shock is keeping investors on edge, forcing markets into a defensive stance.
Economists have begun lifting their inflation forecasts while trimming expectations for consumer spending, growth, and employment, highlighting how prolonged conflict in the Middle East could complicate central banks’ efforts to stabilize prices.
Peel Take: Geopolitics is back in the driver’s seat. With oil climbing and the Strait of Hormuz once again in focus, markets are being reminded that even the strongest equity rally can quickly stall when energy prices spike and investors shift from chasing returns to managing risk.
What's Ripe
Unity Software Inc. (U) 13.7%
Unity jumped 13.7% after the videogame software maker said it expects first-quarter adjusted EBITDA and revenue to come in above its prior forecast.
The company also announced plans to streamline operations by exiting certain businesses as it refocuses its portfolio and sharpens its strategy around core gaming and development tools.
Peel Take: Investors appear to be rewarding Unity’s shift toward profitability and focus, proof that in today’s market, trimming the fat can be just as bullish as growing the top line.
Entergy Corp. (ETR) 6.8%
ETR rose 6.8% after Meta Platforms struck a deal with Entergy Louisiana under which the utility will build new energy infrastructure to support a forthcoming data center in the state.
The $27 billion facility, currently under construction, is set to be Meta’s largest data center yet, underscoring the massive power demands tied to the AI boom.
Peel Take: AI’s appetite for computing power is quickly turning utilities into unlikely tech winners—reminding investors that behind every shiny new data center is a very large electricity bill.
What's Rotten
Norwegian Cruise Line Holdings Ltd. (NCLH) 6.9%
NCLH dropped 6.9% even after the cruise operator reached a truce with activist investor Elliott Investment Management and said it would overhaul its board.
Shares have come under pressure as rising fuel costs weigh on cruise operators, adding another challenge for the industry.
Peel Take: Even activist peace deals can’t offset macro headwinds, when oil spikes, cruise lines quickly learn that smooth sailing depends heavily on fuel prices.
Carnival Corp. (CCL) 4.3%
CCL tumbled 4.3% after the cruise-line operator cut its full-year earnings guidance, although fiscal first-quarter earnings and bookings surpassed analysts’ expectations.
Peel Take: Beating expectations is nice, but lowering guidance is what investors actually care about, and Carnival learned that the hard way. Strong bookings weren’t enough to offset the disappointment, as the market focused on the weaker outlook and quickly jumped ship.
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Leveraged loans are outperforming junk bonds by the widest margin since 2023.
NYSE’s parent is investing $600M into prediction market Polymarket.
📊The Daily Poll
What is the real objective behind seizing oil talk from Donald Trump? |
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EM pressure: 21.9% // Commodity prices: 28.0% // Capital flows: 26.9% // Rate expectations: 23.2%
Banana Brain Teaser
Previous
Last year, 26 members of a certain club traveled to England, 26 to France, and 32 to Italy. Last year, no members of the club traveled to both England and France, 6 members traveled to both England and Italy, and 11 members traveled to both France and Italy. How many members of the club traveled to at least one of these three countries last year?
Answer: 67
Today
For each student in a certain class, a teacher adjusted the student’s test score using the formula y = 0.8x + 20, where x is the student’s original test score, and y is the student’s adjusted test score. If the standard deviation of the original test scores of the students in the class was 20, what was the standard deviation of the adjusted test scores of the students in the class?
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