Markets React to Oil, Risk, and Rotation
U.S. stocks moved lower last week as war risk and rising oil prices weighed on sentiment. The S&P 500 (SPX) fell 1.67% on Friday alone to 6,368, while the Nasdaq 100 (NDX) dropped more than 2% and the Dow Jones Industrial Average (DJIA) lost about 1.7%.
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Trade CEG with leverageAt the same time, oil prices (CM:CL) exceeded $100 per barrel as Iran tensions stayed high. This shift pushed investors to reduce risk ahead of the weekend, with traders adding a risk premium before markets closed. As a result, the tone across markets turned cautious, with clear moves into energy and defensive sectors.
Meanwhile, crypto lost ground late in the week. Bitcoin (BTC-USD) held near $66,000 but slipped, while Ethereum (ETH-USD) and XRP also moved lower.
At the same time, interest rates will remain in focus. The 10-year Treasury yield rose to about 4.42%, while mortgage rates near 6.43% are already weighing on housing demand.
Energy Gains While Tech and Growth Slide
First, energy stocks stood out as the main winners. Higher crude prices lifted names like APA Corporation (APA), Halliburton Company (HAL), and Exxon Mobil Corporation (XOM), all posting gains of more than 3%.
In addition, defensive stocks saw steady demand. Consumer staples such as Campbell Soup Company (CPB), Altria Group (MO), and Kraft Heinz Company (KHC) moved higher as investors looked for stability during market stress.
At the same time, utilities tied to AI power demand also gained. Entergy Corporation (ETR) rose after a deal with Meta Platforms (META) to support new gas-powered plants. This also helped Constellation Energy Corporation (CEG) and Vistra Corp. (VST).
However, tech and growth stocks moved in the opposite direction. Cybersecurity names such as Palo Alto Networks (PANW), CrowdStrike Holdings (CRWD), and Okta Inc. (OKTA) dropped sharply amid concerns about new AI-driven threats.
Consumer stocks also fell. Airbnb Inc. (ABNB), Starbucks Corporation (SBUX), and cruise operators all declined as higher oil prices raised cost concerns.
Corporate Headlines Add to Market Noise
Adding to the ongoing market stress, several company updates put pressure on the week.
Meta Platforms (META) and Alphabet (GOOGL) faced a legal setback after a jury found their platforms liable in a case tied to user harm. The ruling included $3 million in damages, with more penalties possible.
Elsewhere, TotalEnergies SE (TTE) exited U.S. offshore wind projects and shifted focus back to oil and gas. This move reflects a broader trend as energy firms respond to shifts in demand and policy.
In tech and media, Walt Disney Company (DIS) stepped away from a reported $1 billion deal with OpenAI. The company said it will explore other AI options after the project ends.
Finally, space stocks like Rocket Lab USA (RKLB) and AST SpaceMobile (ASTS) moved higher on reports that SpaceX may file for an IPO.
The Week Ahead
Looking ahead, investors will stay focused on the Middle East. Any sign of change in the conflict could shift oil prices and market direction. If crude holds near $100 or moves higher, inflation risk may increase and keep pressure on stocks.
In addition, traders will watch for continued rotation. Energy and defensive sectors may continue to lead if risk remains high, while tech could remain under pressure.
Finally, market behavior around weekends will be important. As seen last week, investors may continue to reduce exposure before key geopolitical events, then adjust again at the start of the next week.
Upcoming Earnings and Dividend Announcements
The final days of March and the start of April bring a lighter but still global set of earnings and dividend events. Large banks, retail names, and industrial firms will report results, while a broad group of income stocks across sectors will trade ex-dividend. Investors will look for signals on global demand, China activity, and consumer trends, while income-focused traders will track payout timing and yield levels.
Earnings Preview
On Monday, March 30, Bank of China Limited (BACHY) is set to report with expected earnings of $0.71 per share. China Shenhua Energy Company Limited (CSUAY) and BOC Hong Kong Holdings Limited (BHKLY) will also release results, offering insight into energy demand and financial activity in China.
On Tuesday, March 31, attention shifts to consumer and distribution names. Nike Inc. (NKE) is expected to report earnings of $0.29 per share on revenue near $11.23 billion, which may reflect global demand trends and pricing power.
At the same time, McCormick & Company, Incorporated (MKC) is set to report earnings of $0.60 per share, with investors watching input costs and consumer demand. TD SYNNEX Corporation (SNX) will also report, with expected earnings of $3.31 per share, offering a read on enterprise tech spending and supply trends.
Ex-Dividend Dates This Week
Several large firms across the tech, finance, industrial, and energy sectors will trade ex-dividend during the week.
On Monday, March 30, Micron Technology Inc. (MU) will trade ex-dividend with a $0.15 payout due in about 17 days. Novo Nordisk A S (NVO) plans to pay $0.92 in about 10 days, while Samsung Electronics Co. Ltd. (SSNLF) will offer $0.24. Equity Residential (EQR) is also set to trade ex dividend with a $0.70 payout.
In addition, Banco de Chile (BCH) will pay $1.41, while TIM S A (TIMB) offers $0.12 next month. Danske Bank A S (DNKEY), National Bank of Canada (NTIOF), and Swisscom AG (SCMWY) are also scheduled to trade ex-dividend.
On Tuesday, March 31, Realty Income Corporation (O) will trade ex-dividend with a $0.27 payout due in about 17 days. AGNC Investment Corp. (AGNC) plans to pay $0.12 in about 12 days, while Annaly Capital Management Inc. (NLY) will offer $0.70 next month.
At the same time, Deere and Company (DE) will pay $1.62 next month, while U.S. Bancorp (USB) offers $0.52 in about 17 days. Mondelez International Inc. (MDLZ), Nucor Corporation (NUE), and Agilent Technologies Inc. (A) are also set to trade ex-dividend.
On Wednesday, April 1, Comcast Corporation (CMCSA) will trade ex-dividend with a $0.33 payout due in about 24 days. Air Products and Chemicals Inc. (APD) plans to pay $1.81 next month, while Cardinal Health Inc. (CAH) will offer $0.51 in about 17 days.
In addition, State Street Corporation (STT), AECOM (ACM), and Raymond James Financial Inc. (RJF) are also scheduled to trade ex-dividend, along with The New York Times Company (NYT).
On Thursday, April 2, Cisco Systems Inc. (CSCO) will trade ex-dividend with a $0.42 payout due in about 24 days. Bristol Myers Squibb Company (BMY) plans to pay $0.63 next month, while American Express Company (AXP) will offer $0.95 next month.
At the same time, Progressive Corporation (PGR) will pay $0.10 in about 12 days, while Quanta Services Inc. (PWR) offers $0.11 in about 12 days. GE Healthcare Technologies Inc. (GEHC), NetApp Inc. (NTAP), and Sysco Corporation (SYY) are also scheduled to trade ex-dividend.
Finally, several global names, including Telefonaktiebolaget LM Ericsson (ERIC), Tencent Music Entertainment Group (TME), and Itau Unibanco Holding S A (ITUB), are also scheduled to trade ex-dividend, rounding out a broad and active week for income investors.