US Composite PMI Falls to 51.4 in March, Signaling Slowest Growth Since April 2025

• The US has drafted a comprehensive 15-point proposal delivered to Iran through Pakistan intended to resolve ongoing hostilities between the two nations, according to Bloomberg reports citing people familiar with the matter. • Stock futures rose Wednesday morning on optimism surrounding diplomatic negotiations, though details of the proposal remain undisclosed. • President Donald Trump has publicly stated that any agreement must include prohibitions on Iran obtaining nuclear weapons or enriching radioactive material for civilian purposes.

• Major US stock indexes fell on March 25 with the S&P 500 dropping 24.63 points (0.4%) to 6,556.37, the Dow Jones declining 84.41 points (0.2%) to 46,124.06, and the Nasdaq sinking 184.87 points (0.8%) to 21,761.89. • Oil prices rose as investors remain uncertain about the duration and impact of the Iran conflict on Persian Gulf energy supplies, with the two-year Treasury yield climbing to 3.92% from 3.83% on concerns about inflation. • The market pullback reflected renewed caution after rallies the previous day, as traders have nearly eliminated bets for Federal Reserve rate cuts this year due to elevated inflation risks from surging oil prices.

• Elemental Royalty (ELE) reported a 128% revenue increase for 2025, significantly exceeding previous guidance and providing strong signals for royalty sector growth into 2026. • piHarrow (HROW) launched a $50 million senior unsecured notes offering to fund expansion, demonstrating continued corporate access to debt markets despite broader market uncertainty. • RenX (RENX) announced a reverse stock split as a remedial measure to regain Nasdaq compliance, with implications for share float and liquidity dynamics.

• Three historical factors that preceded double-digit stock-market declines are present simultaneously in 2026, according to DataTrek co-founder Nicholas Colas, signaling heightened risk for U.S. equity investors. • The S&P 500 has dropped 4.7% in March alone and is down 4.2% year-to-date, on track for its worst monthly performance since March 2025 and first quarterly loss since Q1 2025. • Despite warning signs, Colas maintains a cautiously optimistic outlook, stating there is still time to avoid a double-digit loss if Middle East tensions de-escalate swiftly and crude-oil prices decline.

• The S&P 500 has fallen 4.7% in March 2026, marking its worst month since March 2025, as investors navigate uncertainty surrounding the Iran conflict following U.S. and Israel airstrikes at the end of February. • The index is down 4.2% year to date and is heading for its first quarterly decline since Q1 2025, with the S&P 500 closing down 0.4% on March 24, the Dow Jones down 0.2%, and the Nasdaq Composite down 0.8%. • DataTrek co-founder Nicholas Colas identified that all three major factors historically responsible for large calendar-year stock market declines are present in 2026, validating investor concerns about market volatility.

• U.S. equities declined on March 24, 2026, following a stock recovery on Monday, as the Middle East conflict reignited investor concerns and weighed on market sentiment. • The selloff occurred after initial optimism earlier in the week, with mounting concerns about geopolitical risks affecting trading activity throughout the session. • The market downturn reflects broader volatility as investors grapple with the implications of escalating tensions in the region and their potential impact on oil prices and corporate earnings.

• H.E.R.C. Products (HERC, PNK) skyrocketed 18,950% during market hours on March 24, 2026, emerging as the top gainer. • The massive surge highlights extreme volatility in penny stocks amid broader market pressures from oil spikes and geopolitical news. • No specific catalysts detailed, but the move underscores speculative trading in small-cap names during uncertain times.

• S&P 500 dropped 0.80%, Dow Jones fell 0.83%, and Nasdaq 100 declined 0.98% in early trading on March 24, 2026, amid Middle East tensions. • Crude oil surged over 4% to $91.80, up $3.67, as Iran's parliament speaker Mohammad Bagher Qalibaf denied US negotiations, contradicting President Trump's claims of productive talks. • Citi analysts warn prolonged conflict could push oil to $200 per barrel, heightening inflation fears and pressuring equities.

• Bank of America reinstated coverage of Microsoft (MSFT) with a Buy rating and $500 price target, implying 31% upside potential on March 24, 2026. • Analysts cite durable multi-year growth in cloud and AI, positioning Microsoft to capitalize across infrastructure and applications. • The reaffirmation comes amid tech sector pressure from geopolitical tensions, highlighting AI monetization as a key beneficiary.

• Morningstar identifies three core stocks as overvalued on March 24, 2026, recommending investors scale back holdings. • Estee Lauder shares declined after reports of Japan's Sumitomo Mitsui Financial Group exploring a takeover, while Puig shares rallied in Madrid. • The analysis urges taking profits amid high valuations, with Estee Lauder in turnaround mode showing minimal reaction to news.

• U.S. stocks closed higher on Monday, March 23, 2026, with the Dow Jones Industrial Average rising 1.4% or 631 points to 46,208.47 amid hopes of easing Middle East tensions. • Nasdaq Composite advanced 1.4% to 21,946.76 led by Albemarle Corporation's 3.5% gain, while S&P 500 gained 1.2% or 74.52 points to 6,581.00 with all 11 sectors positive. • Consumer Discretionary (XLY), Materials (XLB), and Technology (XLK) sectors rose 2.5%, 1.5%, and 1.5% respectively; VIX fell 2.4% to 26.15 on higher trading volume of 27.94 billion shares.