Stocks close lower in volatile trading session, crude oil falls after trimming steeper losses

Stocks whipsawed as traders digested developments in the war with Iran.

Your Evening Briefing March 10, 2026 Stocks close lower in volatile trading session, crude oil falls after trimming steeper losses Stocks whipsawed, with the S&P 500, Nasdaq 100, and Russell 2000 closing lower. Crude oil fell, trimming steeper losses as the White House confirmed that the US has not escorted a tanker through the Strait of Hormuz, contradicting a since-deleted post on X by Energy Secretary Chris Wright. Communications was the best-performing sector, boosted by gains in Alphabet and Meta, while energy fared the worst. Bitcoin showed signs of stabilization, with traders remaining cautious as the asset hovered around $70,000 today. Stocks that moved higher: Nio soared after the EV maker reported its first ever adjusted quarterly profit. Hims & Hers continued to gain after a bevy of analyst upgrades following its partnership with Novo Nordisk. Vertex Pharmaceuticals jumped after announcing positive results in trial of its drug to treat a kidney disorder. Refiners and oil field services stocks Valero, SLB Limted, and Halliburton rose on crude's retreat from Monday's panicky prices. Rivian gained after TD Cowen upgraded the stock to buy from hold and boosted its price target to $20 from $17 on expectations of strong R2 demand. Nvidia rose as the chip designer announced a "long-term" partnership with AI startup Thinking Machines Lab, founded by former OpenAI executive Mira Murati. Bunge ticked higher after the agri-business company raised its multi-year guidance and announced a share buyback. Stocks that moved lower: Centene sank after the company said in a filing that it expects 2026 earnings to come in below analyst estimates. Boeing dropped as the company faces a Q1 delivery slowdown after discovering 737 wiring issues. Just how huge is YouTube, anyway? Google's video platform is now the world's largest media company, per new MoffettNathanson research. Read more. What analysts say they're looking for next in the oil markets "It has the makings of a once-in-a-generation market dislocation." Read more. Apple manufactured 55 million iPhones — about 25% of its global production — in India last year, Bloomberg reports. That share would put the iPhone maker ahead of Wall Street's schedule. At the start of 2025, analysts predicted Apple's iPhone production in India would reach 25% by 2027. Read more.  Deutsche Bank upgrades software stocks, sees no evidence of negative impacts from AI on sales this year "Also, after asking various experts, generalists, Gemini, ChatGPT and Claude, we have still not come across a single Software company that expects a negative revenue effect from AI in 2026," the strategists wrote. SpaceX wants a Nasdaq listing — with early Nasdaq 100 access Currently companies have to wait up to a year to be eligible for inclusion in major indexes like the S&P 500 or the Nasdaq 100. Meta has acquired Moltbook, the AI-only social network The unusual AI-only social network has generated a lot of buzz emerging from the current AI agent craze. Salesforce reportedly planning $25 billion bond sale to help fund $50 billion buyback Moody's Ratings called the debt-funded buyback "a material shift in financial policy, including a higher tolerance for debt in the capital structure" for Salesforce.  Traders bet XRP's price will keep rising as it outpaces ethereum and solana Meanwhile, more than half of XRP's total supply is sitting at a loss. Yann LeCun raises $1 billion for his Advanced Machine Intelligence Labs, breaking European records AI pioneer LeCun, formerly of Meta is betting on "world models" over LLMs, and has secured funding from Nvidia, and Jeff Bezos. Was this email forwarded to you? Don't miss out on future stories — subscribe to The Wrap and get your daily dose of financial news straight to your inbox.  Craving more insights in your inbox? Subscribe to Chartr and Snacks for quality reads. We care what you think! If you have any feedback or comments, feel free to reply and let us know your thoughts!  Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more Sherwood Terms and Conditions Our Editorial Standards Contact Us Advertise With Us Unsubscribe Privacy Policy SHERWOOD MEDIA, LLC, 85 Willow Road, Menlo Park, CA 94025