Oil prices are back on the rise amid war developments
Stocks are firmly lower this afternoon, with the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) sporting triple-digit deficits on the heels of a much hotter-than-expected inflation report. Combined with higher oil prices, investors are concerned the reading could dissuade the Federal Reserve from pursuing additional interest rate cuts this year. The central's bank rate decision is due out this afternoon, with rates expected to stay unchanged.
Elsewhere, President Donald Trump waived the Jones Act shipping law for 60 days to stabilize oil prices, back on the rise following reports that Israel struck Iran’s largest gas processing facility. Iran has threatened to target crude facilities in Saudi Arabia, the United Arab Emirates, and Qatar in response.
- Retail stock bucking broad market headwinds.
- Sales growth projections trigger beer stock upgrade.
- Plus, TME and TTD hit with bear notes, and Williams-Sonoma hikes dividend.
Tencent Music Entertainment Group - ADR (NYSE:TME) stock is seeing unusual options activity today, with 9,964 calls and 3,609 puts traded so far, volume that is 10 times the amount typically seen at this point. The most active contract is the March 22 call, with new positions being sold to open. TME is off 6.5% to trade at $10.63 at last check, after downgrades t J.P. Morgan Securities and Benchmark to "neutral" and "hold" from "overweight" and "buy," respectively. The firms also cut their price targets, the former noting strong competition and new structural challenges related to AI adoption. TME fell to a five-year low of $11.33, and is 39.2% lower in 2026.
Williams-Sonoma Inc (NYSE:WSM) stock is leading the SPX today, up 4.6% to trade at $190.49 at last check, brushing off a revenue miss after the home goods giant surpassed earnings expectations for the fourth quarter. The company also issued an upbeat revenue growth outlook for 2026 and hiked its dividend by 15%. Pacing for its best day since January, WSM is bouncing off a familiar floor at $180 and sports an 18.6% nine-month lead.
Trade Desk Inc (NASDAQ:TTD) stock is down 5.7% to trade at $23.63 at last check, after downgrades from Stifel and Rosenblatt Securities to "hold" and "neutral," from "buy." The former lowered its price objective to $26 from $48, noting concerns around the advertising giant's 2026 estimates, and the latter cut its target to $25 from $36. TTD has wrestled overhead pressure from the 40-day moving since October, and is pacing for its eighth loss in nine sessions. Year over year, shares are down 55.8%.
