Notable market news this past week (08-Mar-26)
Here is the Skeptivest roundup of the latest market headlines for the week
🌍 Rapid escalation of the Iran war leaves huge impact on global energy markets
Israel intensifies airstrikes on Iranian targets including oil depots and fuel infrastructure, while Tehran retaliates with missile and drone attacks across the Gulf region. The conflict has also broadened geographically, with Hezbollah launching rockets from Lebanon and Iranian-linked attacks targeting energy infrastructure and shipping across the Gulf. The escalating violence has resulted in over a thousand casualties and prompted tens of thousands of foreign nationals to evacuate the region. Political uncertainty in Iran has also deepened following the death of Supreme Leader Ali Khamenei, with reports indicating that a new leader has now been selected.
The conflict is now having a direct impact on global markets given the Middle East’s critical role as a major oil-producing region. Oil prices have surged to about US$90 per barrel, marking one of the largest weekly increases in recent years, as markets grow increasingly concerned about potential disruptions to the Strait of Hormuz, a key shipping route that handles roughly one-fifth of global oil flows, or about 20 million barrels per day. Trump has urged Iran to accept unconditional surrender, raising fears that a prolonged conflict could significantly disrupt global energy supply. Meanwhile, Saad al-Kaabi, Qatar’s Energy Minister, warned that Gulf exporters could halt production within days if tankers are unable to transit the strait. In response to rising supply risks, the United States has signalled potential measures to ease pressure, including releasing oil from strategic reserves and temporarily allowing India to purchase some Russian crude already at sea. At the same time, Saudi Arabia has raised oil prices for Asian buyers and redirected shipments through Red Sea ports to bypass Hormuz. Amid the intensifying geopolitical tensions, WTI crude futures surged more than 11% to above US$90 per barrel last Friday—its highest level since August 2022, while Brent crude rose over 10% to around US$94 per barrel. The spike in energy prices has pushed inflation expectations higher, driven bond yields upward, and increased demand for safe-haven assets such as gold.
☕️ Quick fire happenings to note
🌏 Global macro
- US non-farm payrolls fell by 92,000 and unemployment rate rises to 4.4% in February. The US employment report showed unexpected weakness in the US labour market, marking the first major job loss in several months and falling well below expectations for job growth. While wage growth remained relatively firm at around 0.4% m/m and 3.8% y/y, job losses were seen across several sectors, including healthcare, manufacturing, information, and transportation. The signs of a softening US labour market could influence expectations for Federal Reserve policy in the coming months.
- China sets 2026 GDP growth target in its Two Sessions: China has signalled a shift in its economic strategy after Beijing set a lower GDP growth target of around 4.5% to 5% for 2026, reflecting a more cautious outlook for the world’s second-largest economy, and a renewed focus on high-quality, sustainable growth amid global uncertainties. The announcement initially weighed on US-listed Chinese equities, as investors interpreted the target as a sign of slower structural expansion. However, Chinese policymakers have indicated that they will increase fiscal spending and policy support to achieve the target, including measures to boost domestic demand, stabilise the property sector, and support key industries, underscoring a balanced approach between caution and stimulus.
- BOJ’s normalization stance remains unchanged: Despite the ongoing Middle East crisis, Bank of Japan officials indicated that their trajectory toward normalizing monetary policy remains largely unchanged. Governor Ueda acknowledged that the conflict could meaningfully impact Japan’s economy, particularly through higher energy prices and increased market volatility. Despite these risks, he reaffirmed that the BOJ will continue to adjust interest rates based on economic data, signalling that monetary policy decisions will remain data-driven rather than reactive to geopolitical developments.
🏦 Individual stocks/companies
- Marvell Technology Inc (+12.37% past 5D) reported strong fourth-quarter fiscal 2026 results, posting record revenue of about US$2.22 billion and adjusted earnings that beat expectations, driven by robust demand for AI and data-center products. The company also raised its revenue outlook significantly for fiscal 2027 and 2028, forecasting growth well above consensus estimates. The rally in its share price reflects market confidence in Marvell’s position in custom chips and interconnect solutions for AI infrastructure, as investors factor in stronger long-term demand from hyperscale AI spending.
- Booking Holdings Inc’s (+13.10% past 5D) stocks climbed as fears that generative AI tools like ChatGPT could disintermediate traditional travel booking platforms have eased. Reports that OpenAI is scaling back plans to integrate direct booking checkout functionality within ChatGPT sparked a rebound in online travel agency shares, as the shift could benefit these established intermediaries by keeping consumers routed back to online travel agency apps and sites for transactions. At the same time, Booking Holdings Inc also announced to adjust its pricing structure in South Africa after reaching an agreement with the country’s competition authority to remove price parity clauses in accommodation contracts, a move expected to foster more competitive pricing in that market.
- Hanwha Aerospace Co Ltd (+20.70% past 5D) shares rallied sharply in response to a strong defence-driven market rally and strategic expansion moves. Stock price surged sharply – at one point climbing nearly 20% in a single session and setting new record highs in Seoul – as investor interest in defence firms intensified amid heightened geopolitical tensions in the Middle East. In strategic developments, the defence company has announced a major investment in Estonia’s defence sector, committing close to €100 million to bolster local manufacturing and ammunition production capabilities, deepening its footprint in the Baltic region and boosting long-term European defence cooperation.
🇸🇬 Singapore related
- Fresh graduate employment in Singapore tightened in 2025, with full-time permanent employment for local university graduates dropping to 74.4% from 79.4% in 2024, amid cautious hiring and reflecting a tougher job market due to economic uncertainty. A higher proportion of graduates struggled to secure jobs, with 8.5% of graduates unable to find offers, up from 5.7% in 2024. Despite this, median gross monthly salaries for those in full-time jobs remained steady at S$4500. More graduates found themselves in part-time or temporary roles.
