Today's Highlights
📌 Top story -- scroll down for more updates
GTC Highlights
5:02 pm
Nvidia (NVDA +0.85%) CEO Jensen Huang delivered his keynote at GTC on Monday, doubling down on the company's artificial intelligence (AI) dominance with a striking new projection: AI chip demand will reach $1 trillion through 2027, up from the $500 billion forecast the company gave last year. "In fact, we are going to be short," Huang said. "I am certain computing demand will be much higher than that."
- Bringing customers to the cloud: Huang argued that Nvidia is actively driving customers to cloud partners like Oracle (ORCL 1.24%) and Stock Advisor holdings Alphabet (GOOG +1.41%) , Microsoft (MSFT +0.92%) , and Amazon (AMZN +1.70%) . Hyperscalers accounted for roughly 50% of Nvidia's $62.3 billion in fourth-quarter data center revenue.
- Groq wildcard: Nvidia's recent acqui-hire of AI inference chip designer Groq could signal a new chip product or a technology integration -- details that investors were watching closely for at the conference.
Closing Bell
4:30 pm
Stocks rebounded Monday as oil prices pulled back and investors hoped the Iran conflict is nearing a resolution. The S&P 500 snapped a three-week losing streak, rising 1%, while the Dow and Nasdaq also finished solidly higher. Meta Platforms (META +1.06%) gained more than 2% on reports of potential layoffs, and Nvidia (NVDA +0.85%) rose more than 1% as its GTC conference kicked off.
Oil dropped sharply after Treasury Secretary Scott Bessent said the U.S. is allowing Iranian oil tankers through the Strait of Hormuz, though prices remain elevated. The rally lost some steam after Trump suggested a coalition to escort ships through the Strait wasn't fully assembled yet. The S&P 500 remains just over 4% below its all-time high.
Nvidia Launches NemoClaw for AI Agents
4:18 pm -- NVDA +1.65%
Nvidia (NVDA +0.85%) launched NemoClaw, a new software stack for the OpenClaw AI agent platform that gives companies privacy and security controls for autonomous agents running on users' machines. OpenClaw — which debuted as Clawd in November 2025 before being renamed twice — has gained traction for its ability to run AI agents across apps like WhatsApp, Slack, and Discord, performing tasks on behalf of users using their personal data.
NemoClaw is designed to address the privacy and security concerns that come with giving an AI agent access to your computer and data. Nvidia is also positioning its GeForce RTX hardware as the preferred platform for running the service, giving the chipmaker a software-to-hardware funnel at a moment when AI agents are front and center across the industry.
Lifecore's Longer Timeline Tanks the Stock Price
3:22 pm -- LFCR -30%
By Rich Greifner
Shares of Lifecore Biomedical (LFCR +5.00%) plunged more than 30% after the tiny contract drug manufacturing organization (CDMO) released its fourth quarter results. Lifecore's financial performance was in line with expectations: revenue rose 10% from last year's levels and adjusted EBITDA improved thanks to the many efficiencies implemented by the company's new management team. And Lifecore's long-term prospects remain bright, as the company prepares to process significant volume increases for its largest customers in the coming years.
However, it seems those volume increases aren't going to occur as soon as the market had hoped.
Sonos CEO: Headphones Yes, Cars No
3:11 pm -- SONO +0.84%
Sonos (SONO +2.83%) CEO Tom Conrad says the company is staying in the headphones business despite its first attempt — the Ace — falling flat with consumers. Conrad admitted the original strategy of going head-to-head with Sony, Bose, and Apple was overly ambitious, and that Sonos would have been smarter to target its existing 17 million households first and build deeper integration with its speaker ecosystem.
On cars, Conrad was blunt: it's a "hobby." Sonos has had a branding partnership with Audi for five years but hasn't landed any new deals, and Conrad sees too many gatekeepers — automakers, CarPlay, Spotify — to make in-car audio a real strategic priority for now.
Apple Acquires Video Editing Startup MotionVFX
2:49 pm -- AAPL +1.11%
Apple (AAPL +2.69%) has acquired MotionVFX, a Polish startup that makes plugins, templates, and visual effects tools for Apple's Final Cut Pro editing suite. The deal will let Apple integrate MotionVFX's capabilities directly into its products rather than relying on third-party extensions.
The acquisition is part of Apple's push to grow its services business and attract subscribers to Creator Studio, its $12.99-per-month bundle of creative apps launched in January. Services carry higher profit margins than hardware, and the move puts Apple in more direct competition with Adobe (ADBE 1.31%) Creative Cloud.
Will Bitcoin Smash the $75,000 Barrier?
1:40 pm -- BTC +1.3%
Bitcoin (BTC +4.32%) climbed to a six-week high of $74,512 as easing geopolitical tensions reignited an appetite for risk. While gold and traditional safe havens stumbled, the digital asset gained 12% this month, supported by massive institutional demand. Net inflows for U.S. spot Bitcoin ETFs reached $1.3 billion in March, with BlackRock (BLK +3.33%) and its iShares Bitcoin Trust (IBIT +3.03%) capturing 78% of that volume. Market analysts suggest a break above $75,000 could trigger intense hedging flows from short-sellers, potentially accelerating the rally despite Bitcoin remaining 40% below its October peak.
- Institutional Iron Grip: The heavy concentration of flows into BlackRock’s fund suggests professional conviction is replacing retail speculation as the primary price driver.
- The Short Squeeze Setup: Blockchain data indicates market makers are structurally short at the $75,000 level, creating a "coiled spring" effect if prices continue to rise.
CRYPTO: BTC
Key Data Points
Today's Lunchtime News
1:05 pm -- AAPL +1.4%
Apple (AAPL +2.69%) introduced the AirPods Max 2 on Monday, upgrading its premium over-ear headphones with more powerful noise cancellation and a new suite of features at the same $549 price as the original. The headphones go on sale March 25 and hit stores in early April.
- Meaningful upgrade: The new model packs Apple's H2 chip, enabling live translation, conversation awareness, and adaptive audio -- features previously limited to the AirPods Pro line. Noise cancellation is 1.5 times more effective than the original 2020 model, and microphones have been upgraded for studio-quality audio recording.
- Product blitz continues: The launch follows a wave of new Apple hardware earlier this month including the iPhone 17e, the $599 MacBook Neo, a new Studio Display XDR, and refreshed MacBook Pro, MacBook Air, iPad Air, and iPad models.
NASDAQ: AAPL
Key Data Points
Credit Demand Hits Four-Year High
12:50 pm
Americans are tapping credit lines at the fastest pace since 2022, according to fresh New York Fed data. While demand for new loans grew, the surge was driven primarily by requests for higher limits on existing cards from issuers like JPMorgan Chase (JPM +0.62%) and American Express (AXP +3.00%). Despite the economic shadow of the Iran conflict, banks are surprisingly lenient; the credit rejection rate plunged to 15.9%, a five-year low. However, a record number of lenders are simultaneously closing accounts, suggesting financial institutions are quietly pruning their riskiest exposure behind the scenes.
- Emergency Buffer Erosion: Only 63.3% of households feel confident they can cover a $2,000 surprise expense, a slight decline that signals tightening wallets for retailers.
- Inflationary Tug-of-War: Surging credit usage complicates the Federal Reserve's task as it meets this week to balance wartime oil price spikes against a consumer base increasingly reliant on plastic.
Roche CEO Targets Diet Drug Patient Dropoff
12:40 pm -- RHHBY +1.8%
Roche (RHHBY +2.72%) is moving to disrupt the obesity market by focusing on drug tolerability and price. Ashley Magargee, CEO of Roche's Genentech unit, noted that many patients currently abandon weight-loss treatments due to side effects. The pharmaceutical giant is developing a portfolio aimed at long-term maintenance and combination therapies, looking to peel away market share from leaders Novo Nordisk (NVO 0.35%) and Eli Lilly (LLY +1.77%). By prioritizing affordability, Roche aims to challenge the current duopoly while ensuring broader patient access and higher retention.
- Solving the Retention Crisis: New clinical efforts focus on preventing "therapy drop-off" by refining chemical profiles to reduce the nausea and discomfort associated with early-generation GLP-1s.
- Combination Strategy Power: Genentech is betting on multi-drug cocktails to help patients hit weight goals when single-agent treatments from competitors stall or fail.
OTC: RHHBY
Key Data Points
OpenAI’s $10B Private Equity Power Play
11:40 am
OpenAI is in late-stage talks with private equity titans TPG Inc. (TPG +3.84%) and Brookfield Asset Management (BAM +2.12%) to launch a $10 billion joint venture. This strategic vehicle aims to deploy OpenAI’s enterprise tools across the firms’ massive portfolios, potentially securing a $4 billion capital injection. As OpenAI and rival Anthropic both eye potential 2026 IPOs, these partnerships provide a critical moat by locking in corporate adoption. For investors in public PE firms, the deal offers a rare hedge against AI disruption within their diverse holdings.
- Anchor Strategy: TPG is positioned as the primary lead, while Advent International, Bain Capital, and Brookfield look to secure board seats and early technology access.
- The Valuation Narrative: With a $10 billion pre-money tag on the venture alone, the move signals a shift from pure research toward aggressive, industrial-scale commercialization.
Peloton Bets on Durable Hardware
11:20 am -- PTON +4.45%
Peloton (PTON +0.10%) is shifting gears, announcing a "Commercial Series" of bikes and treadmills designed for high-traffic gym floors. Launching in late 2026 across six countries, the line leverages hardware from its Precor subsidiary to withstand heavy use that original consumer models couldn't handle. With companywide revenue recently dipping 3% and the AI-powered "Peloton IQ" struggling for consumer traction, CEO Peter Stern is leaning on the commercial unit — which grew 10% last quarter — to offset sluggish at-home demand.
- The Precor Advantage: By utilizing Precor’s existing distribution network in 60 countries, Peloton can bypass the logistical hurdles that previously limited its scale in the hospitality and corporate wellness sectors.
- Clash of the Content: The expansion creates potential friction with gym operators who may view Peloton's proprietary digital platform as a direct threat to their own in-house classes and branded instructor ecosystems
BioMarin Shares Slide After Trial Fails
10:15 am -- BMRN -0.9%
BioMarin Pharmaceutical (BMRN +0.17%) shares fell 4% Monday after the company scrapped mid-stage trials of its bone disorder treatment, Voxzogo, for three genetic conditions. The decision followed reports of "slipped" hip joints in patients across Turner Syndrome and SHOX-deficiency studies. While the drug remains FDA-approved for achondroplasia, this pipeline contraction limits its total addressable market just as new competition arrives. Investors are now weighing the impact of these safety signals against the company's remaining pediatric growth trials.
- Competitive Heat Rising: The setback comes just weeks after the FDA approved a rival injection from Ascendis Pharma (ASND +0.21%) , ending BioMarin's monopoly in the achondroplasia space.
- Salvage Operations: Management is shifting focus to Noonan syndrome and unexplained short stature, but these smaller indications may not fully offset the lost potential from the canceled programs.
Today's Take: Top Stocks for the Next Generation?
10:35 am -- AAPL +1.2%, NKE +1.2%, NTDOY +1.5%
What if your child’s favorite video game or burrito bowl could teach them the power of compounding? Our team is breaking down why companies like Apple (AAPL +2.69%) , Nike (NKE +0.81%) , and Nintendo (NTDOY +3.20%) make the best "first stocks" because they are brands kids already know and love.
We want to hear from you: What was the first stock you bought for your child or grandchild, and what was the "lightbulb moment" that got them interested? Members can share their story in Today's Take!
Top of the Morning
9:45 am — META +2.2%
By Loren Horst
Team Rule Breakers
Meta Platforms (META +1.06%) is planning to lay off roughly 20% of its workforce, according to a report published by Reuters over the weekend. While a Meta spokesperson has called the story "speculative reporting about theoretical approaches," the scale of the layoffs could be staggering – potentially surpassing Meta's 11,000 jobs cut in the prelude to its "year of efficiency" and more than the 16,000 layoffs announced by Amazon.
It was just months ago that CEO Mark Zuckerberg was calling 2026 a year for building personal superintelligence while Meta floated $100 million pay packages toward top AI talent from other companies. But according to Andreessen Horowitz's latest yearly rankings of top generative AI consumer apps, Meta AI comes in at an underwhelming 21st place for monthly active users (MAUs) and 35th place for unique monthly visits.
Opening Bell
9:35 am -- META +3.2%, NVDA +2.4%
Wall Street snapped a three-week skid Monday as the Dow jumped 381 points. Easing energy prices provided the primary catalyst, with WTI crude retreating to $95 per barrel following reports that the U.S. will lead a naval coalition to secure the Strait of Hormuz. Tech led the charge as Meta Platforms climbed 3% on restructuring rumors, while Nvidia (NVDA +0.85%) rose ahead of its high-stakes GTC conference. Despite recent volatility, the S&P 500 remains within 5% of its all-time high, buoyed by resilient 2026 earnings forecasts.
JD.com Launches Joybuy to Rival Amazon in UK
8:00 am -- JD +0.64%, AMZN +0.48% in pre-market trading
JD.com (JD +0.83%) has officially launched its Joybuy marketplace across the UK and Northern Europe, signaling a direct assault on Amazon's (AMZN +1.70%) regional dominance. Leveraging its $2.5 billion acquisition of electronics giant Ceconomy, JD is deploying a network of 60 warehouses to offer same-day delivery to 15 million households. The platform features blue-chip partners like L'Oreal and De'Longhi, while undercutting Amazon Prime with a "JoyPlus" subscription priced at just £3.99/month. This aggressive expansion into Europe's lucrative grocery and tech sectors represents a critical attempt by JD to offset sluggish consumer demand and fierce domestic competition from PDD Holdings (PDD +0.42%) in its home Chinese market.
- Logistics Leverage: By controlling its own "last-mile" delivery service and localized warehouses, JD is attempting to replicate the high-speed fulfillment model that secured its massive market share in China.
- Electronics Edge: The integration of its Ceconomy acquisition gives Joybuy an immediate foothold in the high-margin European electronics sector, a category where Amazon has traditionally faced pricing pressure.
NASDAQ: JD
Key Data Points
Meta's $27B Deal Cements Nebius as AI Leader
8:30 am -- NBIS +14.27% in pre-market trading
Meta Platforms (META +1.06%) is doubling down on external infrastructure, signing a massive $27 billion deal with Dutch cloud provider Nebius (NBIS 4.52%). Over the next five years, Nebius will supply Meta with dedicated AI capacity, including some of the first large-scale deployments of Nvidia's (NVDA +0.85%) next-generation "Vera Rubin" chips. This partnership highlights a shifting strategy for Meta; while it remains a "hyperscaler" with its own data center roadmap, the company is increasingly outsourcing specialized compute needs to keep pace with Alphabet (GOOG +1.41%) and Microsoft (MSFT +0.92%). For Nebius, a company birthed from the restructuring of Yandex, the deal cements its status as Europe's premier AI cloud, following a similar $19.4 billion agreement with Microsoft last year.
- Nvidia's Kingmaker Role: Nvidia isn't just a supplier; its recent $2 billion direct investment in Nebius signaled to the market that the Dutch firm is a preferred partner for the rollout of cutting-edge Rubin architecture.
- The CAPEX Race: Meta's projected AI spending of up to $135 billion this year is part of a collective $700 billion infrastructure blitz by Big Tech, suggesting that "efficiency" layoffs are being used to bankroll these massive hardware contracts.
NASDAQ: META
Key Data Points
This Morning's Breakfast News
7:30 am
Nvidia (NVDA +0.85%) today kicks off its annual GTC (GPU Technology Conference) in San Jose, California – in a year when hyperscalers intend to spend more than $600 billion on AI infrastructure. What to expect? Analysts are talking about vertical integration – from chips all the way to full AI systems – and news of future chip generations. Thoughts on the longer-term sustainability of AI spend won't be far from watchers' minds.
- Laying off 20% of staff?: Meta (META +1.06%) is planning a raft of job cuts, per Reuters. The social media giant reportedly hopes to offset its huge AI infrastructure costs with savings coming from increased use of AI agents and AI assistance for human workers.
- Terafab "Launches in 7 Days": Tesla (TSLA +3.25%) CEO Elon Musk announced the imminent launch of its new in-house semiconductor manufacturing on Saturday, as Micron (MU 0.01%) today revealed plans for a second fabrication facility in Taiwan to expand production of high-bandwidth memory in high demand for AI data centers.
Lululemon Cheap but Wait for Earnings
7:25 am -- LULU +0.46% in pre-market trading
By Sanmeet Deo
Team Rule Breakers
Over the past year, Lululemon (LULU +2.60%) stock has been cut in half as the dark clouds persist over the company. The pioneer of the athleisure industry is facing stiff competition from the likes of Alo, Vuori & others, its core U.S. market is sluggish and products have become stale and full of controversy (see through leggings anyone?). On top of that, macro concerns with tariffs and corporate governance issues (in search of a CEO, proxy battle) have weighed heavily.
Those are a lot of storm clouds. Can we see through them? If we squint, I think we can. It's only a matter of time before they find a CEO, who hopefully will make some important changes. This will be a true test of the strength of its brand and the loyalty and passion of its customers.
I recently had the chance to trial some alternative data (social media trends, web traffic, etc.) and while the financial metrics show some slowing, the consumer social interest, web traffic and gift card demand still remain high. This may not directly correlate to next week's earnings report but I like to see high consumer and social interest.
The stock looks extremely cheap right now but with earnings coming up, I would wait to digest the earnings and evaluate then.
NASDAQ: LULU
Key Data Points
U.S., China Strike Trade Deal Ahead of Summit
6:15 am -- BA +0.43% in pre-market trading
Economic officials from Washington and Beijing concluded "remarkably stable" negotiations in Paris, carving out a list of "deliverables" for President Trump's high-stakes state visit to China starting March 31. Treasury Secretary Scott Bessent and Vice Premier He Lifeng reportedly reached tentative agreements on expanding Chinese purchases of American coal, oil, and agricultural goods, including a renewed commitment to 25 million metric tons of soybeans annually. For investors, the most significant tailwinds involve Boeing (BA +2.98%), as negotiators explicitly discussed renewed Chinese orders for jetliners, and the tech sector, with discussions "loosening up" bottlenecks on critical minerals like yttrium. While a final "Board of Trade" mechanism is being developed to manage long-term friction, this weekend's progress suggests a tactical pivot toward balanced, managed trade rather than a return to triple-digit tariff escalations.
- Aerospace Lifeline: Boeing stands as a primary beneficiary of the "Board of Trade" proposal, which seeks to grow bilateral commerce in non-sensitive sectors to offset the ongoing chip-war restrictions.
- Energy & Mineral Mobility: U.S. producers of natural gas and coal are positioned for a demand surge, while manufacturers like GE Aerospace (GE +3.60%) could see supply chain relief if China follows through on easing yttrium export controls.
Meta May Cut 20% of Workforce for AI Overhaul
6:00 am -- META up 2.98% in pre-market trading
Meta Platforms (META +1.06%) is reportedly preparing its most aggressive headcount reduction to date, with sources indicating that 20% or more of its 79,000-person workforce could be cut. CEO Mark Zuckerberg is pivoting the social media giant toward a leaner, "AI-assisted" operational model to offset a staggering $600 billion infrastructure roadmap. Despite a "speculative" label from company spokespeople, the move aligns with recent comments from Zuckerberg about single individuals now accomplishing tasks that once required entire teams. For investors, the trade-off is clear: Meta is sacrificing its human capital to bankroll the specialized talent and massive compute power needed to rescue its lagging "Avocado" AI models.
- The Hardware Tax: Meta's capital expenditure is projected to hit $135 billion this year--nearly double its 2025 spend--forcing a radical reallocation of cash from payroll to data centers.
- Profiting from Pruning: Markets responded favorably to the news, with Meta's share price rising 2.5% in pre-market trading as shareholders anticipate a significant boost to long-term free cash flow margins.
Molina Healthcare Exits S&P 500 for SmallCap Index
5:45 am -- MOH unchanged in pre-market trading
Molina Healthcare (MOH 0.42%) will be deleted from the S&P 500 and simultaneously added to the S&P SmallCap 600, effective prior to market open on March 23, 2026. S&P Dow Jones Indices announced the index rebalance as part of its regular review process.
- Passive fund mechanics: S&P 500-tracking index funds will need to sell MOH shares to maintain alignment with the benchmark, though the timing and magnitude of any selling pressure remains uncertain.
- Dual index movement: Unlike typical deletions, MOH's transition to the SmallCap 600 means the stock will remain within S&P's broader index family, potentially maintaining some institutional demand.
NYSE: MOH
Key Data Points
Before the Opening Bell
5:30 am
Stock futures are edging higher Monday as investors look to snap a three-week losing streak for the S&P 500. The focus is squarely on Nvidia (NVDA +0.85%), which kicks off its annual GTC conference today. CEO Jensen Huang is expected to unveil the "Vera Rubin" AI architecture, a successor to the Blackwell line that could redefine data center efficiency. However, the "AI Super Bowl" faces a stiff headwind from the Middle East, where Brent crude has climbed past $105 per barrel following U.S. strikes on Iran's Kharg Island oil hub. While the Federal Reserve is widely expected to hold interest rates steady this week, the energy-driven spike in inflation has traders pricing out any hopes for a rate cut before September.
- The Rubin Revolution: Nvidia's new VR200 chips aim for 3x the performance of current models, a critical upgrade as competitors like Advanced Micro Devices (AMD +0.23%) attempt to chip away at its 90% market share in AI training.
- Stagflationary Signals: With Q4 GDP revised down to 0.7% and oil-related inflation ticking up, the Fed's "Summary of Economic Projections" this Wednesday will be the ultimate test for the market's 2026 outlook.
