Stock futures are cautiously higher this morning, with oil prices cooling amid reports that Iran has contacted the CIA about ending the Middle East conflict. Front-month crude was last seen 0.8% lower, while Treasury Secretary Scott Bessent indicated announcements were imminent that would support the Persian gulf oil flow.
President Donald Trump also reiterated tankers will have risk insurance and U.S. Navy support in the Strait of Hormuz. Futures on the Dow Jones Industrial Average (DJI) and Nasdaq-100 Index (NDX) are indicating a triple-digit pop, while S&P 500 Index (SPX) futures are modestly higher.
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- Plus, Moderna settles; COIN breaks out with Bitcoin; and CrowdStrike earnings.
5 Things You Need to Know Today
- The Cboe Options Exchange saw 1.8 million call contracts and roughly 1.3 million put contracts traded on Tuesday. The single-session equity put/call ratio rose to 0.72, while the 21-day moving average remained at 0.59.
- Moderna Inc (NASDAQ:MRNA) stock is 9.2% higher before the bell, after the drugmaker announced it will pay a smaller-than-expected $950 million in patent litigation with Arbutus Biopharma and Genevant Sciences related to the Covid-19 vaccine. Moderna stock is 68% higher in 2026, and set to open near two-year highs.
- Coinbase Global Inc (NASDAQ:COIN) stock is 7.1% higher ahead of the open, the crypto wallet boosted by a resurgent Bitcoin (BTC), last seen up 4.5% and reclaiming $71,000. COIN is down 19.3% year to date and hit a 12-month low of $139.36 on Feb. 12.
- The shares of CrowdStrike Holdings Inc (NASDAQ:CRWD) are 0.4% lower in electronic trading, despite the cybersecurity company reporting a top-line beat for the fourth quarter. First-quarter guidance also exceeded estimates, though eight price-target cuts have ensued this morning alongside three price-target hikes. CRWD is down 16.5% in 2026.
- PMI, jobs data define the first week of March.
Korean Kospi Triggers Circuit Breaker Amid Massive Selloff
Asian markets extend yesterday’s steep losses, led by South Korea’s Kospi, which shed 12.1% -- its worst daily drop on record and triggering a circuit breaker. The single-name concentration toward SK Hynix and Samsung Electronics is catalyst for the selloff. In China, the manufacturing purchasing managers index (PMI) fell to 49 in February, missing forecasts of 49.1 after several extended holidays paused shipments. The Shanghai Composite shed 1%, Hong Kong’s Hang Seng lost 2%, and Japan’s Nikkei gave back 3.6%.
European bourses are monitoring the situation in the Middle East, specifically after Spain refused to allow the U.S. to use its bases for Iran strikes. President Trump said he will cut off all trade with the country in response. Markets in the United Arab Emirates (UAE) resumed trading, following a two-day closure amid the drone strikes. At last glance, London’s FTSE 100 is up 0.6%, France’s CAC 40 has added 0.8%, and Germany’s DAX is up 1.2%.
