Wall Street opened the week in full relief mode as traders swapped flight-to-safety for fear-of-missing-out.
The Dow Jones Industrial Average jumped roughly 600 points, or about 1.4%–2% depending on the intraday snapshot, marking one of its strongest sessions since early February. The S&P 500 and Nasdaq followed suit, climbing around 1%–2% as buyers rushed back into beaten-up growth, cyclicals, and mega-cap tech after a bruising stretch of geopolitically driven volatility. Indeed, for a market that spent recent sessions obsessing over every headline out of the Strait of Hormuz, Monday’s tape suggested investors were suddenly willing to believe in happy endings again—at least for five days.
Trump’s Five-Day Timeout Reprices Geopolitical Risk
The catalyst was President Donald Trump’s announcement that the U.S. would postpone strikes on Iran’s power plants and energy infrastructure for five days, citing “very good and productive” discussions with Tehran. The pause, framed as a window for diplomacy, immediately lowered the market’s perceived odds of an all-out energy shock and helped unwind a war-premium that had been building across crude, equities, and gold.
Trump also floated the possibility that the Strait of Hormuz—choked by conflict and threats of escalation—could reopen under some form of joint U.S.–Iran control “if this works,” giving traders a narrative that sounded just constructive enough to hit the buy button. Iranian outlets, for their part, have denied direct or indirect contact with Washington, but equity markets showed more interest in the Oval Office’s version of events than in the fine print of diplomatic protocol.
Oil Slides, Airlines Fly, Energy Squirms
The clearest tell that geopolitical risk was being repriced came from crude, where futures reversed sharply from recent highs. West Texas Intermediate dropped more than 10%, slipping into the high‑80s after trading above 110 earlier, while Brent crude tumbled back below the psychologically important 100-dollar mark and hopefully on its way back to the traditionally accceptable range of $60-80 some time soon that typically keeps all parties relatively happy.
That sudden evaporation of the war premium was bad news for energy bulls but a welcome tailwind for fuel-intensive industries. Airline stocks and cruise operators, which had been under pressure amid fears of sustained high oil, ripped higher—several names jumped 4%–5% or more as traders quickly repriced margins for a world where jet fuel may not cost the earth. i.e Delta Airlines (DAL) closed up 2.66% at $65.13.
Sector Winners: Everything but Oil
It wasn’t just travel and leisure enjoying the geopolitical reprieve. All 11 S&P 500 sectors traded higher at various points in the session, with more than 90% of index components in the green—a classic “all clear” breadth profile that suggested systematic and discretionary buyers were both back in the pool..
Financials caught a bid as lower energy prices eased some macro stress and investors leaned into rate-sensitive cyclicals despite lingering uncertainty over the Federal Reserve’s next move. Tech, and especially the mega-cap AI complex, benefited from the broad risk-on shift: when volatility steps back and crude steps down, long-duration growth cash flows suddenly look a lot more attractive on a spreadsheet—and on a trading desk.
Volatility Deflates, Fed Path Still Cloudy
The Cboe Volatility Index, Wall Street’s favored fear gauge, retreated after briefly poking above 30 in prior sessions as Middle East headlines whipsawed futures. With Monday’s rally, implied volatility slipped back toward the mid‑20s, signaling that options traders were willing to dial down tail-risk hedges, even if they weren’t quite ready to declare geopolitical risk “solved.”
On the macro front, the story is more nuanced. Economists noted that while the latest downdraft in crude eases near-term inflation anxiety, the war-driven spike in energy prices over recent weeks still complicates the Fed’s path to rate cuts later in 2026, with some desks now penciling in fewer or later cuts than they expected at the start of the year.
Wall Street’s Take: Relief Rally or Regime Change?
Strategists framed Monday’s move as a classic relief rally, born not from euphoria but from the simple realization that the worst-case scenario had been, at least temporarily, taken off the table. The combination of softer oil, tighter credit spreads, and broad equity participation fits the pattern of a market that was priced for disaster and then forced to buy back some protection once the disaster was delayed.
Still, with Iran denying substantive talks and the White House keeping the threat of future strikes very much alive if negotiations falter, nobody on Wall Street is confusing a five-day pause with a five-year peace deal. In the meantime, investors spent Monday doing what they do best: discounting the latest headline, celebrating a bit of good news, and quietly wondering whether today’s exuberance will look prescient—or premature—by the time that five-day clock runs out.
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, $3.15, +24.02%)
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.
AleAnna, Inc. (ANNA)
AleAnna, Inc. (ANNA, $5.46, +52.80% over the last 5-days) just turned a dry technical milestone—its year‑end reserves report—into something closer to an Italian energy renaissance, with proved natural gas reserves jumping 47% after a year of active production. For investors hunting for credible growth stories in a world of energy-transition buzzwords, this is one of the rare cases where the molecules are actually catching up to the marketing. Learn more here.
Eupraxia Pharmaceuticals (EPRX, $7.33, +3.24%)
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 $.1778)
- 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, $1.50, +2.04%)
- 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, $36.59)
- 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. announced (March 10) 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, $175.64, +1.57%) (NOK, $8.06, +1%)
- 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, $308.47)
- 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, $5.21, +6.11%)
- 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.
Heartflow, Inc. (HTFL, $26.82, +3.07%)
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%
Tesla (TSLA, $380.85, +3.50%)
Elon Musk’s latest Texas-sized ambition is to build his own AI chip empire, and this time the factory floor will sit right next to the robots, rockets, and robotaxis that plan to use it. The Terafab project, a new semiconductor venture linking Tesla (TSLA), SpaceX, and xAI in Austin, aims to churn out custom chips for AI, humanoid robots, and space systems at a scale that makes today’s GPU land rush look like a warm‑up act. Learn more here.
The Sources
Here are key sources used, in numerical order:
- CNBC – “Dow surges 600 points in relief rally after Trump says U.S. and Iran have had ‘productive’ talks: Live updates”[cnbc]
https://www.cnbc.com/2026/03/22/stock-market-today-live-updates.html - MarketWatch – “Stock Market on March 23, 2026: Dow posts best day in 6 weeks, S&P 500 and Nasdaq close sharply higher as Trump pauses Iran infrastructure strikes; oil prices slide”[marketwatch]
https://www.marketwatch.com/livecoverage/stock-market-today-dow-s-p-500-nasdaq-fall-oil-rises-iran-war-energy-infrastructure-dam - Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq surge as Trump postpones Iran strike for now”[finance.yahoo]
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-surge-as-trump-postpones-iran-strike-for-now-164114618 - Barron’s – “Stock Market Today: Dow, S&P 500, Nasdaq Surge; Tesla, TSMC, Lumentum, More Movers”[barrons]
https://www.barrons.com/livecoverage/stock-market-news-today-032326 - Yahoo Finance – “Stock market today: Dow jumps 600 points, S&P 500, Nasdaq surge as Trump signals talks with Iran; oil tumbles”[ca.finance.yahoo]
https://ca.finance.yahoo.com/news/stock-market-today-dow-jumps-600-points-sp-500-nasdaq-surge-as-trump-signals-talks-with-iran-oil-tumbles-200047383.html - 24/7 Wall St. – “Stock Market Live March 23, 2026: S&P 500 (SPY) Soars on Trump Announcement”[247wallst]
https://247wallst.com/investing/2026/03/23/stock-market-live-march-23-2026-sp-500-spy-soars-on-trump-announcement - Investopedia – “Markets News, March 23, 2026: Indexes End Sharply Higher, Oil Retreats as Trump Says US to Postpone Threatened Strikes on Iran Power Plants”[investopedia]
https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-03232026-11931982 - TheStreet – “Stock Market Today: Live updates, top news for March 23, 2026”[thestreet]
https://www.thestreet.com/latest-news/stock-market-today-march-23-2026-updates - Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq futures soar as Trump postpones Iran strike, citing ‘very good’ talks”[finance.yahoo]
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-soar-as-trump-postpones-iran-strike-citing-very-good-talks - The Wall Street Journal – “Stock Market Today: Dow Rallies, Oil Skids After Trump Postpones …”[wsj]
https://www.wsj.com/livecoverage/stock-market-today-dow-sp-500-nasdaq-03-23-2026 - Yahoo Finance – “Stock market today: Dow, S&P 500, Nasdaq soar as Trump …”[finance.yahoo]
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-soar-as-trump-postpones-iran-strike-citing-very-good-ta - CNN Business – “Oil drops, stocks soar after Trump postpones strikes on Iran”[cnn]
https://www.cnn.com/2026/03/23/business/stocks-dow-market - Investor’s Business Daily – “Stock Market Today: Dow Jumps But These Fertilizer Stocks Stink”[investors]
https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-trump-iran-nvidia-tesla - New York Post – “Dow rallies 745 points, oil tumbles below $100 after Trump orders 5-day pause …”[nypost]
https://nypost.com/2026/03/23/business/dow-futures-rally-nearly-1000-points-oil-tumbles-below-100-after-trump-orders-5-day-pause - Invezz – “US stocks rise as Trump delays Iran strikes, Dow Jones gain 600 …”[invezz]
https://invezz.com/news/2026/03/23/us-stocks-rise-as-trump-delays-iran-strikes-dow-jones-gain-600-points/
