Wall Street put in another day of trench warfare Thursday, with stocks limping into the close but at least dropping their panic along with crude’s earlier adrenaline rush.

Indexes: From rout to mere sulk

The major averages spent the morning flirting with a full-blown oil shock narrative before settling for a more modest case of indigestion.

The Dow finished down about 0.44%, having clawed back from fresh year-to-date closing lows.
The S&P 500 and Nasdaq shed roughly 0.27% and .28% respectively, a noticeable improvement from their steeper intraday losses.

The move extended a rough stretch that began when surging energy costs and a more hawkish Federal Reserve turned the “soft landing” story into more of a turbulence advisory.

Oil: From panic attack to deep breath

Crude once again wrote the script for equities, but this time the plot included a late twist.

Brent crude had spiked as much as 10% intraday to around 119 dollars a barrel after fresh Iranian and Israeli strikes on energy infrastructure, stoking fears of a prolonged supply shock.
By afternoon, talk of U.S.–Israeli cooperation to reopen the Strait of Hormuz helped knock Brent down by about 2%, easing some of the inflation panic that has been stalking risk assets all month.

The geopolitical premium also showed up in the Brent–WTI spread, which blew out to roughly 14 dollars—its widest in over a decade—as seaborne barrels commanded a higher anxiety surcharge than landlocked U.S. crude. In a further sign of policy triage, Washington authorized limited sales of certain Russian crude flows in a bid to cap energy costs without admitting it is, in fact, trying to cap energy costs.

Fed: One cut, zero comfort

If oil has been the match, the Fed has been the oxygen. Policymakers this week stuck to projections that still technically allow for one rate cut this year, but the market heard something closer to “don’t call us, we’ll call you” as Chair Powell underscored that inflation has run above target for five years and may not cooperate with doves’ timelines.

Analysts at Macquarie now suggest the next move might actually be a hike in early 2027, a forecast that lands somewhere between contrarian and unwelcome for equity bulls who have been treating cuts as a constitutional right.

Corporate tape: AI, autos, and dollar stores

Under the surface, single-name stories offered a reminder that macro isn’t the only risk factor.

Micron (MU) slid after its big-ticket AI investment plans overshadowed otherwise strong earnings, suggesting that even in the age of artificial intelligence, investors still prefer good old-fashioned free cash flow.
Alibaba (BABA) dropped 7.09% after a 67% plunge in quarterly profit raised questions about how quickly its own AI and cloud bets can translate into returns rather than just capex.
Tesla (TSLA) fell about 3% as U.S. regulators escalated their probe into the company’s Full Self-Driving system, a reminder that software margins remain subject to hardware liability.
Discount chain Five Below (FIVE) jumped roughly 10% on strong holiday-quarter numbers, even as management struck a cautious tone on the outlook—apparently selling inexpensive toys remains a premium business in an expensive world.

Big picture: Buying time, not conviction

For now, Thursday’s action looked less like a bullish turn and more like a market that decided “less bad” was good enough for one afternoon. Easing crude, hints of progress on Hormuz, and the absence of fresh Fed surprises were enough to keep the selloff from snowballing, but not enough to resurrect the early-year “everything rally” narrative.

With oil still elevated, the Brent–WTI spread historically wide, and rate-cut hopes slowly being marked to reality, investors head into Friday facing the same question they started the week with: is this an opportunity to buy the dip in earnings power—or just another chapter in a repricing of risk.

VP Watchlist Updates

Below is an update‑style snapshot on the VP Watchlist names for the week, focused on recent catalysts, positioning, and narrative rather than precise price moves.

Serina Therapeutics (NYSE: SER, $2.48, +93.75%, +154.5M traded today)

Serina Therapeutics (NYSE: SER) (www.serinatx.com) seems to have have just traded itself into Wall Street’s good graces, pairing fresh capital with a late-session pop that suggests investors are finally starting to connect the dots between polymer chemistry and portfolio returns. In Huntsville, Alabama, Serina Therapeutics announced definitive agreements for a private placement of common stock and pre-funded warrants that could bring in up to 30 million dollars in gross proceeds. The first 15 million dollar tranche is expected to close on March 20, 2026, with a second tranche of up to 15 million dollars anticipated by April 30, 2026, subject to customary closing conditions.

What makes the deal stand out in a biotech tape crowded with discounts is the pricing: the securities are being sold at about 2.25 dollars per share, a roughly 68 percent premium to Serina’s March 17 closing price, signaling that insiders are willing to pay up for exposure to the company’s clinical agenda. The financing also adds board-level heft, with director Greg Bailey, M.D., stepping into a Co-Chairman role as he leads the investment, a move that effectively puts the capital and the governance on the same optimistic page. Learn more here.

Eupraxia Pharmaceuticals (EPRX, $7.60, +1.20%)

Eupraxia Pharmaceuticals Inc. (“Eupraxia” or the “Company”), a clinical-stage biotechnology company leveraging its proprietary Diffusphere™ technology designed to optimize local, controlled drug delivery for applications with significant unmet need, announced (March 17) positive symptom data from patients in the two highest dose cohorts from its ongoing Phase 1b/2a part of the RESOLVE trial evaluating EP-104GI for the treatment of eosinophilic esophagitis (“EoE”). “We are very pleased to see such a meaningful symptom response at 24 weeks in the highest dose of the Phase 1b/2a portion of the RESOLVE study,” said Dr. James A. Helliwell, Chief Executive Officer of Eupraxia. “We believe this type of response based on a single administration procedure would represent a compellingly different option for EoE patients. Importantly, the response that we are observing across cohorts 4-9 has increased as patients progress through the study through to week 24. We believe this demonstrates the importance of stable, continuous long-term local steroids in tamping down signs of inflammation quickly and acting on fibrosis in the longer term. Also, as previously reported, we continue to be encouraged by the safety profile that we have observed with EP-104GI. Currently, with 31 patients dosed in the Phase 1b/2a study, and over 220 months of follow up, there have been no reported serious adverse events.”

Modular Medical (MODD $.1921)

Modular Medical recently priced a public offering of 68,098,000 shares of common stock (or pre-funded warrants) alongside warrants to buy an equivalent number of shares, targeting gross proceeds of about 12 million dollars before fees. The combined public offering price of roughly 17.62 cents per share and accompanying warrant comes at a premium to the prevailing market, a rare feat in a sector where financings often resemble clearance sales rather than premium shelf space.
Earlier this month, the company began production of validation lots for its disposable cartridge and infusion set, keeping it on track for a planned commercial launch in the first quarter of 2026, contingent on FDA 510(k) clearance—an event path that positions upcoming regulatory decisions as key stock catalysts.

GeoVax Labs (GOVX, $1.42)

GeoVax announced (Feb. 24) the formation of its Oncology Advisory Board with the appointment of three internationally recognized leaders in immuno-oncology, translational medicine, and clinical development. This Advisory Board will play a central role in guiding the scientific, translational, and clinical advancement of GeoVax’s oncology program, focused primarily on Gedeptin(R), the company’s gene-directed enzyme prodrug therapeutic (GDEPT). GeoVax plans to conduct a Phase 2 trial with Gedeptin in the neoadjuvant setting, pairing it with an immune checkpoint inhibitor (ICI) in locally advanced head and neck squamous cell carcinoma. In parallel, it will be evaluating combination Gedeptin + ICI strategies across additional solid tumor indications.
GeoVax announced on Wednesday, Feb. 18 that it has entered into an exclusive worldwide license agreement with Emory University for intellectual property covering the use of Gedeptin(R) in combination with immune checkpoint inhibitors (ICIs).
On February 17, GOVX issued a statement endorsing the urgent call to action articulated by Rosamund Lewis, MD (WHO Head, Poxviruses Programme) and colleagues in their recently published PLOS Medicine article, “The mpox epidemic is not over: Reducing disproportionate burden in Africa and persistent global risk require a sustained response.” (https://journals.plos.org/plosmedicine/article/file?id=10.1371/journal.pmed.1004893&type=printable)
Shares can gap sharply on any trial or regulatory update, positive or negative.

The InterGroup Corporation (INTG, $37.52, +1.13%)

InterGroup Corporation delivered (Feb. 17) a notably stronger quarter, highlighted by a 20% jump in total revenue to $17.3 million and a 27% surge in hotel revenue as renovated rooms returned to service and travel demand improved. The company swung from a prior-year net loss to $1.0 million in net income, with operating income more than doubling to $2.0 million, underscoring better cost control and improved operating efficiency. Management further enhanced liquidity and sharpened strategic focus by selling a non-core 12‑unit Los Angeles multifamily property, generating a meaningful gain and additional working capital while maintaining stable performance across its real estate portfolio.

Volato Group, Inc. (SOAR) & M2i Global, Inc. (MTWO)

Volato Group, Inc. today announced that it has entered into an amendment to its Aircraft Management Services Agreement with flyExclusive, Inc. (“FLYX”) providing for the sale of certain legacy intellectual property assets. The agreement provides for consideration valued at approximately $1.3 million, payable in FLYX Class A common stock, subject to customary conditions. The assets relate to legacy intellectual property developed during earlier stages of the Company’s technology initiatives and are not part of Volato’s current operating platforms. Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.
Volato and M2i Global reaffirmed their goal of closing their business combination in the first quarter of 2026, citing steady advancement through SEC review and integration planning as they move toward a combined listing. The deal, originally announced in 2025, will effectively transition Volato from a pure‑play private aviation operator into a diversified platform spanning aviation technology and critical minerals, with M2i shareholders expected to own the majority of the combined entity. Operationally, the partnership is already visible: the two companies recently initiated their first shipment of titanium ore from Western Australia to the United States from Titanium X, underscoring how the critical‑minerals vertical could become a meaningful growth engine as domestic supply‑chain security rises in strategic importance.
On Feb. 4, M2i Global,Inc.along with Volato Group, Inc. announced that Titanium X has initiated its first shipment of titanium ore from Western Australia to the U.S. under its collaboration agreement.

NVIDIA (NVDA, $178.56) (NOK, $8.30)

In an AI market obsessed with GPUs and stardust, Nokia (NOK) is quietly reminding investors that none of this magic moves without serious plumbing. While Nvidia (NVDA) prepares to headline its GTC 2026 “Woodstock of AI” showcase, the chip giant has already written a very real check to Nokia, committing a $1 billion investment to help rewire the world’s networks for 5G‑Advanced, 6G, and AI‑native workloads. The message is simple enough: GPUs may be the new rock stars, but networking is the stadium.
Nvidia delivered strong fourth-quarter results recently, posting revenue of $68.1 billion, well above analyst expectations. Looking ahead, the company projects $7.8 billion in revenue for the first quarter of 2026, reflecting continued robust demand for its AI chips even amid broader market headwinds.
NVIDIA and Nebius Group N.V. (NASDAQ: NBIS) (March 11) announced a strategic partnership to develop and deploy the next generation of hyperscale cloud for the AI market, from AI natives to enterprises. NVIDIA will invest $2 billion in Nebius.

McDonald’s (MCD, $309.58)

In the run-up to World Protein Day on 27th February, McDonald’s India (West & South), owned and operated by Westlife Foodworld, is celebrating Protein Week, reinforcing its leadership in nutrition-led innovation. Making protein more accessible, affordable and customizable, Indian consumers can use the McDonald’s app to explore these nutritious offerings and avail of protein burgers starting at just INR 69. Enhancing this convenience, consumers ordering via McDelivery can also enjoy free delivery on the Protein Plus meal range.

Opendoor (OPEN, $5.14)

Opendoor Technologies, a leading e-commerce platform for residential real estate transactions, reported financial results for its fourth quarter and year ended December 31, 2025. They highlighted the following: October 2025 acquisition cohort tracking as best-performing October in Company history; acquisitions increased 46% quarter-over-quarter while inventory days in possession reduced 23%.
Opendoor continues to navigate a challenging housing backdrop characterized by still‑elevated mortgage rates and tight existing‑home inventories, which weigh on transaction volumes even as affordability slowly improves. The company’s focus on disciplined acquisition spreads, inventory turns, and ancillary services remains central to the investment debate as markets handicap the pace and magnitude of any 2026 housing recovery.

lululemon athletica inc. (LULU, $165.57, +.11%)

lululemon athletica inc. announced (MARCH 17) the appointment of Chip Bergh, former President and Chief Executive Officer of Levi Strauss & Co., to its Board of Directors, effective immediately. With this addition, lululemon has added five new independent directors to the Board in the last five years, reflecting the Board’s commitment to ongoing refreshment.

Heartflow, Inc. (HTFL, $25.89, +1.65%)

Heartflow, Inc. (HTFL), the leader in AI technology for coronary artery disease (CAD), reported (March 18) financial results for the fourth quarter and full year ended December 31, 2025. Fourth Quarter 2025 Highlights included:

Total revenue of $49.1 million, a 40% increase year-over-year
Gross margin of 79.5%, non-GAAP gross margin of 79.9%
Net operating loss of $17.8 million, non-GAAP net operating loss of $12.5 million
U.S. installed base of 1,465 accounts as of December 31, 2025
U.S. Plaque installed base of 489 accounts as of December 31, 2025
Aetna began coverage of Heartflow Plaque Analysis, bringing total U.S. covered lives for Plaque to approximately 75%

The Sources

Yahoo Finance – “Dow, S&P 500, Nasdaq recover from steep losses as oil’s surge eases”
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-recover-from-steep-losses-as-oils-surge-eases-200040220.html finance.yahoo
Schwab Market Update – “Crude in Control: Stocks Down Again, Threaten Lows”
https://www.schwab.com/learn/story/stock-market-update-open schwab
Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq losses accelerate after Fed decision as Powell touts inflation worries”
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-losses-accelerate-after-fed-decision-as-powell-touts-inflation-worries finance.yahoo
Schwab Asset Management – “Market Commentary | Crude in Control: Stocks Down Again, Threaten Lows”
https://www.schwabassetmanagement.com/insights-news/market-commentary schwabassetmanagement
Trade Nation – “US stocks rebound as oil fears ease”
https://tradenation.com/articles/us-stocks-rebound-after-oil-driven-selloff/ tradenation
Trading Economics – “Crude Oil – Price – Chart – Historical Data – News”
https://tradingeconomics.com/commodity/crude-oil tradingeconomics
Yahoo Finance (homepage live markets context) – “Yahoo Finance – Stock Market Live, Quotes, Business & Finance News”
https://finance.yahoo.com finance.yahoo

March 19, 2026 – Oil, Angst, and Algorithms: Wall Street Tries Not to Spill Its Drink On Thirsty Thursday -( $EPRX $FIVE $HTFL $INTG $LULU $SER Rise!)