Closing Bell: Market Stress Continues, WBD Deal Developments, Housing Data

Markets held onto slight gains until near the closing bell, with the S&P 500 up 0.10%, the Nasdaq-100 down 0.13%, the Dow up 0.065%, and the Russell 2000 down 0.0042%. The market ended lower overall last week due to pressure on the tech sector from fears around AI disruption; if we can end in the green this week, it could reflect market digestion. Crude oil fell as the U.S. and Iran continue nuclear talks, while gold and Bitcoin also saw down days.

A New Twist in the Warner Bros. Discovery (WBD) Saga

Netflix (NFLX) has granted Warner Bros. Discovery (WBD) a seven-day waiver to reopen acquisition discussions with Paramount Skydance (PSKY) ahead of the shareholder vote on March 20. WBD’s Board of Directors continues to unanimously recommend the Netflix merger, but Paramount could come back with a higher offer once again.

Housing Market Index

The Housing Market Index report was below consensus, coming in at 36 vs 38 estimated and 37 prior. Per Econoday, the report is a weighted average of present new home sales, new home sales anticipated in the next 6 months, and traffic from prospective buyers of new homes. Essentially, the report shows builder sentiment continuing to fall, presenting a continued challenge to affordability.

Tomorrow’s Economic Data

• 7:00 AM ET: MBA Mortgage Applications
• 8:30 AM ET: Durable Goods Orders (Delayed), Housing Starts & Permits (Delayed)
• 9:15 AM ET: Industrial Production
• 10:00 AM ET: Atlanta Fed Business Inflation Expectations
• 11:00 AM ET: Treasury Buyback Announcement (Prelim)
• 2:00 PM ET: FOMC Minutes
• 4:00 PM ET: Treasury Intl. Capital

Tomorrow’s Earnings

• Premarket: ADI, BLCO, CRL, CNK, CLH, DAN, GRMN, GPN, IMO, PODD, JLL, MCO, SEDG, SAH, TX, TNL, WING
• Postmarket: AWK, CAR, BHC, BKNG, CVNA, CF, CAKE, DASH, EBAY, EQX, FIG, HLF, HST, INVH, JACK, KGC, TAP, NDSN, NTR, OXY, OMC, RS, WH

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