Morning Brief: Americans paid $8 billion extra for gas this month

👋 Good morning! The banal marketplace fell connected Monday, continuing the anterior week's descent arsenic home West Texas Intermediate (CL=F) — US crude, not the Brent planetary merchandise — jumped implicit the $100 people for the archetypal clip since 2022.

The catalyst? President Trump telling the FT the US volition power Iran's lipid marketplace "indefinitely."

The S&P 500 (^GSPC) closed 0.4% down connected Monday, with the Nasdaq (^IXIC) losing 0.7%. The Dow (^DJI) gained 0.1%.

On the docket this morning:

⛽️ One immense number: $8 billion

🏷️ Powell issues an 'essential' reminder astir wherefore ostentation expectations are truthful important

💨 A greenish modulation from lipid gets anticipation again

📈 The kids are Schwabing

🏍️ A K-shaped economy, successful a motorcycle

🇨🇦 You person to bash the full job, not most of the job

📆 What we're watching Tuesday: Nike's (NKE) quarterly results volition pb the net calendar, and we'll beryllium proceeding astir user sentiment and expectations from the Conference Board.

A Job Openings and Labor Turnover Survey for February volition supply a detailed, if delayed, snapshot of that month's sentiment from employers and employees.

🛢️ There are 2 large reasons lipid prices are surging arsenic the Iran War enters its 5th week: the Houthis' entranceway into the fray and Washington's caller menace of violence.

📈 A caller regularisation could fast-track SpaceX's IPO to a spot connected the Nasdaq index. If your marketplace headdress is large capable (top 40 of the Nasdaq 100), you're eligible to get connected the scale wrong 15 trading days of an IPO. Critically, it besides means determination whitethorn beryllium much than 100 companies connected the index, temporarily.

🏦 Fed Chair Jerome Powell doesn't spot a backstage recognition threat. He besides said involvement rates are successful a "good place."

🍪 Nvidia has the astir important banal illustration successful the world. It's not conscionable the astir invaluable institution — it leads the market. And close now, anyway, successful the incorrect direction.

💰 The Labor Department projected including alternate assets successful status accounts. Private equity companies saw their stocks emergence pursuing the news.

₿ Crypto stocks are trading astatine 'big discounts,' Bernstein analysts say. The mediocre sentiment and geopolitical goings-on whitethorn bespeak that a bottommost whitethorn beryllium present (or astir here) for the beleaguered industry, the analysts think.

📊 10 large problems facing large user institution stocks. Packaged bully are staring into an abyss of large challenges, and this illustration shows why.

🌮 Trump 'pays attraction to the banal market.' Wall Street eyes signs of TACO amid Iran war.