Markets bounce as oil cools
Global equities rebounded Monday after crude eased — the Dow jumped 388 points (+0.8%), the S&P 500 rose ~1.0%, and the Nasdaq climbed ~1.2% as tech led gains reported. Canada’s TSX had its best session since the regional conflict began as the oil pullback revived financials and real‑estate interest reported, though gold and safe havens remain supported by ongoing geopolitical risk.
The International Energy Agency said its 32 member countries agreed on March 11 to release a coordinated 400 million‑barrel drawdown from emergency stocks to ease the Middle East supply shock. (iea.org) President Donald Trump told CBS and other outlets on March 9 that the Iran conflict could be “very complete” or end “very soon,” remarks that traders priced as a de‑escalation and helped knock crude lower. (cnbc.com) Brent crude surged intraday to about $119.50 per barrel before tumbling back; by the close it had pared gains to near $88.03 per barrel. (usatoday.com) U.S. WTI also swung sharply, trading around the mid‑$80s after hitting four‑year highs earlier in the week, a volatility move markets cited when rotating out of energy into other sectors. (finance.yahoo.com) Canada’s S&P/TSX posted its strongest session since the regional hostilities began, with the index up about 296.7 points (+0.91%) as a retreat in oil prices revived interest in financials and real‑estate names. (theglobeandmail.com) Gold and other safe havens stayed bid amid the uncertainty — COMEX gold futures were trading around the $5,000 per ounce area during the swing and analysts flagged ongoing geopolitical risk as the underpinning for elevated bullion demand. (comexlive.org) Volatility eased as the VIX slipped back below the 30 level and U.S. Treasury 10‑year yields moved down into the low‑4% range (about 4.14% on March 10), a combination that supported risk‑on flows into tech and cyclical stocks. (schwabnetwork.com)
