U.S. stocks staged a dramatic intraday reversal on Monday, March 9, 2026, with the major indexes erasing steep early losses as oil prices retreated from their highs and investors latched onto signs the Iran conflict might deescalate.
Indexes: From Rout To Rebound
Markets opened under heavy pressure after futures plunged overnight, with Dow, S&P 500, and Nasdaq contracts all down more than 1% as traders reacted to crude spiking above 100 dollars a barrel and renewed war fears. Early in the session, financials and industrials led declines on worries that a sustained energy shock would squeeze margins and choke off growth. As the day progressed, equities clawed back ground and the major averages swung into the green, leaving the Dow and S&P 500 modestly higher and the tech‑heavy Nasdaq outperforming after being down sharply at the open. The reversal underscored how headline‑driven and liquidity‑sensitive the tape remains, with intraday point swings in the hundreds now common as traders respond to war and commodity headlines.
Macro Backdrop And Policy Jitters
Monday’s trading came on the heels of a weak February jobs report, which showed a surprise decline in nonfarm payrolls and a rise in the unemployment rate, amplifying fears that a slowing labor market is colliding with resurgent inflation. That dynamic has revived stagflation worries, as investors weigh whether the Federal Reserve can continue to lean against price pressures without inflicting deeper damage on growth. War‑driven oil volatility is complicating the outlook for upcoming inflation releases, with analysts warning that if crude stays elevated, the impact will start to bleed into headline inflation data in the months ahead. Rate expectations remain fluid, and commentary from strategists has shifted toward capital preservation and sectors with relatively limited downside in a higher‑for‑longer inflation regime.
Oil Shock And Energy Markets
Crude oil prices swung violently after opening the week with another powerful spike fueled by supply fears tied to the Iran conflict and disruptions around the Strait of Hormuz, a chokepoint that carries a large share of global seaborne crude. Brent and WTI briefly traded well above 100 dollars per barrel, extending an extraordinary multi‑week rally that has left crude up more than 60 percent year‑over‑year on some benchmarks. As the session wore on, however, oil pulled back from its intraday highs, helped by talk of tapping strategic reserves and by market hopes that intensified diplomacy could limit the duration of supply outages. Energy equities, already the standout winners of 2026 with gains north of 25 percent year‑to‑date, saw another volatile day as traders balanced record cash flows against the risk that any cease‑fire or coordinated supply response could cap further upside.
Geopolitics, Trump’s Comments, And Market Sentiment
The dominant driver of risk assets remains the war involving Iran, which has roiled commodity markets and injected significant uncertainty into the global growth outlook. President Donald Trump signaled in recent remarks that the conflict is “very complete” and suggested a resolution could come sooner than markets had feared, comments that helped spark the afternoon equity rebound and took some air out of crude’s surge. Strategists note that investors are struggling to assign probabilities to the range of geopolitical outcomes, leading to episodic de‑risking followed by sharp relief rallies whenever headlines hint at deescalation. For now, the playbook has tilted toward owning energy and defense beneficiaries of the conflict while trimming exposure to rate‑sensitive and cyclical pockets most vulnerable to a prolonged oil shock.
Sector And Earnings Highlights
Beneath the index‑level volatility, sector performance remained starkly bifurcated, with energy and select defense names staying resilient while most other groups continue to nurse year‑to‑date losses. Mega‑cap technology and software, which had come under pressure during the latest risk‑off phase, participated in the afternoon bounce as bargain hunters tiptoed back into high‑quality growth after recent drawdowns. At the same time, financials, industrials, and other economically sensitive sectors lagged, reflecting concern that higher fuel costs will compress margins and weigh on business investment. On the micro front, investors also kept an eye on a busy earnings calendar, with names like Hewlett Packard Enterprise and several large software and retail companies set to report results that could either validate or challenge the market’s cautious macro narrative.
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.
Hims & Hers Health, Inc. (NYSE: HIMS, $22.16, +40.79%)
Hims & Hers Health, Inc. (NYSE: HIMS) today announced a collaboration with Novo Nordisk as part of a new strategy for weight loss care treatments involving GLP-1s, evolving its US offering to match the company’s approach globally. In the US, the company now plans to provide GLP-1 customers with access to a broad assortment of FDA-approved medications and offer compounded semaglutide through the platform on a limited scale. By aligning its domestic and international models in weight loss, Hims & Hers will become the largest global consumer health platform for access to more affordable, approved medications.
Eupraxia Pharmaceuticals (EPRX, $7.82)
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, recently announced the successful closing of its previously announced public offering (the “Offering”) of 7,607,145 common shares of the Company (the “Common Shares”), which includes the full exercise of the option to purchase additional shares granted to the underwriters, at a price to the public of US$7.00 per Common Share, and pre-funded warrants to purchase up to 1,428,571 Common Shares in lieu thereof (the “Pre-Funded Warrants”) at a price of US$6.99999 per Pre-Funded Warrant, which equals the public offering price per Common Share less the C$0.000001 per share exercise price of each Pre-Funded Warrant, for gross proceeds of approximately US$63.2 million, before deducting the underwriting commissions and estimated expenses incurred in connection with the Offering.“We are pleased to complete this financing, allowing us to significantly expand our pipeline, reach several additional development milestones with EP-104GI for eosinophilic esophagitis, and make meaningful progress towards commercial readiness,” said James Helliwell, CEO of Eupraxia. “We appreciate the support from both existing and new investors as we execute our mission and pursue the next phase of growth for Eupraxia.” Cantor and LifeSci Capital acted as joint book-running managers for the Offering. Bloom Burton and Craig-Hallum also acted as co-managers for the Offering. As previously stated, the Company intends to use the net proceeds from the Offering primarily for the continued advancement of EP-104GI for Eosinophilic Esophagitis, including the completion of ongoing preclinical studies, and Phase 2 clinical trials, preparations for a Phase 3 clinical trial including the related regulatory submissions, and manufacturing activities, and to undertake the necessary commercial/market development activities to prepare for the eventual product launch. The Company also intends to use a portion of the proceeds to accelerate and expand its plans to pursue clinical studies with EP-104GI in multiple additional gastrointestinal indications, including in esophageal strictures and fibrostenotic Crohn’s disease. A portion of the proceeds will be allocated to research and development of additional pipeline candidates, business development initiatives, and general corporate purposes, which may include but are not limited to employee salaries, working capital, leases for facilities, administrative expenses, and capital expenditures. The Company may also use a portion of the proceeds to expand its intellectual property portfolio and strengthen its corporate infrastructure to support future growth.
Xenon Pharmaceuticals Inc. (Nasdaq: XENE, $62.76, +49.64%)
Xenon Pharmaceuticals Inc. (Nasdaq: XENE), a neuroscience-focused biopharmaceutical company dedicated to drug discovery, clinical development and commercialization of life-changing therapeutics for patients in need, today announced positive topline results from the Phase 3 X-TOLE2 study of azetukalner in focal onset seizures (FOS). Azetukalner is a novel, potent, KV7 potassium channel opener currently in clinical development for epilepsy and depression.
Modular Medical (MODD $.1976)
- 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.
FIGS, Inc. (FIGS, $15.47)
- FIGS, the direct‑to‑consumer healthcare apparel brand, operates at the intersection of e‑commerce and specialty retail, with a loyal professional customer base and a growing product portfolio. While macro headwinds and digital‑ad volatility have pressured some consumer names, FIGS’ brand equity in the medical community and ongoing product innovation offer levers for renewed growth as conditions normalize.
- After the close (Feb. 26), FIGS released its fourth quarter and full year 2025 financial results and published a financial highlights presentation on its investor relations highlighting the following: Exceeded Top and Bottom Line Expectations, Grew Q4 2025 Net Revenues 33.0% to a Record $201.9 Million, Achieved Q4 2025 Net Income Margin of 9.2% and Adjusted EBITDA Margin of 13.2% & Plans Low Double-Digit Net Revenues Growth and Margin Expansion in FY 2026. FIGS shares have traded up to $13.74 in the aftermarket today.
GeoVax Labs (GOVX, $1.92, +7.26%)
- 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.
DoubleVerify (DV, $10.80)
- DoubleVerify, the leading software platform for digital media measurement, data and analytics, today announced financial results for the fourth quarter and full year ended December 31, 2025 and highlighted the following: Increased 2025 Revenue by 14% Year-over-Year to $748.3 Million, Driven by Global Growth in Social, CTV Measurement, and Programmatic Activation, Achieved 2025 Net Income of $50.7 Million and Adjusted EBITDA of $245.6 Million, representing a 33% Adjusted EBITDA margin, & $300 Million Authorized for Share Repurchases, the Largest Amount in DoubleVerify’s History.
The InterGroup Corporation (INTG, $37.97 +4.17%)
- 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.
Serina Therapeutics (SER, $1.59, +3.92%)
- Serina Therapeutics, a clinical-stage biotechnology company advancing drug candidates enabled by its proprietary POZ Platform™ drug optimization technology, announced (Feb. 19) that the first patient has been enrolled in the Company’s Phase 1b registrational trial evaluating. The Phase 1b registrational study is designed to evaluate the safety, tolerability, pharmacokinetics, and preliminary efficacy of SER-252 in patients with advanced Parkinson’s disease whose symptoms are inadequately controlled by current standard-of-care therapies. Serina remains on track to initiate dosing during the current quarter, consistent with previously disclosed guidance.
Volato Group, Inc. (SOAR) & M2i Global, Inc. (MTWO)
- 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, $182.65, +2.68%)
- 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.
McDonald’s (MCD, $328.06)
- Options data around the February 2026 expiries highlight active positioning near the 300–305 strike range, consistent with expectations for steady but not explosive upside from here.
- 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.
Nokia (NOK, $7.89, +1.94%)
- On March 2, Nokia (NOK) and TIM Brasil announced and are are quietly rewriting the script for Latin America’s telecom sector, rolling out an AI‑ready 5G network that targets nearly half of Brazil’s population while giving enterprises a front‑row seat to the AI industrial era. The expanded partnership takes what TIM started in São Paulo and extends it across 14 additional states, ultimately reaching regions that together represent roughly 42% of Brazil’s population. The upgraded network leans on Nokia’s latest AirScale portfolio, including energy‑efficient Habrok Massive MIMO radios, Remote Radio Heads and small cells designed to boost capacity, improve indoor coverage and cut power consumption at the same time. In practical terms, this is less about bragging rights on speed tests and more about building a platform for AI‑driven services: the architecture is being designed from the ground up to support 5G Advanced, 6G and AI‑native workloads at the edge, not just another round of radio swaps.investing+2
- On Feb. 26, Nokia announced that it has been selected by Telefónica for the deployment of networking solutions to support new Edge data center networks across Spain, marking a significant step forward in Telefónica’s next-generation digital infrastructure journey. Featuring high speed, ultra-low latency, and strong reliability, Nokia’s data center networking solutions will be implemented in Telefonica’s 17 new Edge nodes that deliver Artificial Intelligence (AI), B2B, and Telco Cloud services across residential, enterprise, and public sectors—reinforcing Spain’s position as a leader in advanced digital infrastructure in Europe.
- On Feb. 24, Nokia and AWS showcase industry-first agentic AI-powered network slicing with du and Orange
- Industry-first intent-based 5G-Advanced slicing with agentic AI offers telecommunication providers with premium network slicing services that respond to real-world situations and enable autonomous intelligence.
- This breakthrough innovation inferences and leverages open Internet data, including traffic, events, locations, maps and operator data for network slicing business.
- du and Orange first to explore this innovative slicing solution that adapts automatically to support customer demand.
Opendoor (OPEN, $5.08, +1.60%)
- 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.
The Sources
Here’s a clean list of solid sources you can cite and link out to:
- Yahoo Finance – Live blog: “Stock market today: Dow, S&P 500, Nasdaq stage big comeback, oil plummets as Trump says war could be over soon”
https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-stage-big-comeback-oil-plummets-as-trump-says-war-could-be-over-soon-200031508.html[finance.yahoo] - Investopedia – “Stock Market Today: Major Indexes Erase Steep Losses, End Higher as Trump Says ‘War Is Very Complete,’ Oil Turns Lower”
https://www.investopedia.com/stock-market-today-dow-jones-s-and-p-500-03092026-11921796[investopedia] - Marca – “Stock market today March 9, 2026: Dow, S&P 500 and Nasdaq tumble as oil spikes”
https://www.marca.com/en/lifestyle/us-news/personal-finance/2026/03/09/69aead8422601d6e5d8b45c8.html[marca] - CNBC – “‘Sky is the limit’: Analysts warn oil prices could surge further”
https://www.cnbc.com/2026/03/09/oil-prices-iran-war-middle-east-us-israel-strait-of-hormuz.html[cnbc] - Yahoo Finance – “Stock Market News for Mar 9, 2026”
https://finance.yahoo.com/news/stock-market-news-mar-9-132900289.html[finance.yahoo] - CBS News – “Fear U.S.-Israeli war with Iran will drag on sends stocks plunging as oil soars above $100 a barrel” (live updates)
https://www.cbsnews.com/live-updates/us-iran-war-israel-stock-prices-down-oil-prices-up-despite-trump-reassurance/[cbsnews] - OilPrice.com – “Oil Prices Soar 29% as Iran Conflict Threatens Middle East Supply”
https://oilprice.com/Energy/Energy-General/Oil-Prices-Soar-29-as-Iran-Conflict-Threatens-Middle-East-Supply.html[oilprice] - Fortune – “Oil over $100, markets in freefall, and Iran’s new Supreme Leader is Trump’s ‘worst case’ scenario”
https://fortune.com/2026/03/09/oil-price-100-stocks-in-freefall-iran-new-supreme-leader-trump-worst-case-scenario/[fortune] - CNN – “Trump should fear the big X factor of the Iran war: affordability”
https://www.cnn.com/2026/03/09/business/prices-oil-iran-war-affordability[cnn] - The New York Times – “Trump’s War Becomes World’s Latest Economic Hazard”
https://www.nytimes.com/2026/03/09/business/economy/trump-iran-oil-economy-fallout.html[nytimes]
