Morning in New York: quotes remain in the turbulence zone

Daily review and forecast of events on the U.S. stock market from Mikhail Denislamov, Deputy Director of Freedom Capital Markets Research.

The situation in the Middle East continues to determine the movement of stock exchange quotations. After the closing of the main session on March 9, US President Donald Trump held a press conference at which he confirmed that the US is not yet considering a ground operation in Iran, but warned of a tough response in case of a threat to shipping in the Strait of Hormuz, through which about 20% of the world's oil supplies pass. The statements made by the US president may somewhat reduce fears of an immediate escalation of the conflict. At the same time, uncertainty about further developments contributes to increased volatility.

The NFIB Small Business Optimism Index for February (consensus: 99.6 points, January: 99.3) will be released today. A stronger actual reading will be seen as confirmation of the resilience of business activity and domestic demand. Secondary market home sales data for February (consensus: -0.8% m/m, January: -8.4%) will also be released. Even a less pronounced negative dynamics than a month earlier may indicate a gradual stabilization of the housing market, which remains sensitive to changes in mortgage rates. Of interest to investors is the weekly employment data from ADP. The growth of this metric from the previous 12.75 thousand will contribute to confidence in the stability of the labor market and consumer spending.

NIO (NIO), Uranium Energy (UEC), Biontech (BNTX ) and Kohl's (KSS) will report before the opening of the main session. After the close of trading , Oracle (ORCL), AeroVironment (AVAV), Franco-Nevada (FNV ) and Avino Silver & Gold Mines (ASM) will report quarterly results.

Futures on American stock indices demonstrate about zero dynamics. We assess the balance of risks for the upcoming trading session as neutral with increased volatility.

- Shares of Vertex Pharmaceuticals (VRTX) are adding more than 5% on the premarket on the release of strong results from a late-stage study of the drug povetacicept in IgA nephropathy (chronic inflammatory kidney disease). The company expects to submit an application for approval of the drug to the US Food and Drug Administration (FDA). A positive regulatory decision will become a new growth point for the issuer in the kidney disease therapy segment.

- Quotes of LifeMD (LFMD) reacted with growth of more than 5% to the release of quarterly reports. The company reported revenue and adjusted EBITDA of $46.9 million and $4.8 million, compared to consensus of $45.8 million and $2.9 million, respectively. Investors were also positive on the company's 2026 guidance, results in the telemedicine services segment and weight loss products.

- Joby Aviation (JOBY) shares are up about 5% on news of its inclusion in the White House-backed Air Taxi eIPP program, which will allow it to begin commercial operations in the U.S. as early as this year without full approval from the U.S. Federal Aviation Administration (FAA). This decision reinforces market confidence that Joby is at an advanced stage of certification and will be able to scale air cab services faster.

- Yext (YEXT) shares are losing about 3% of their value before the start of the main session after the release of quarterly results. Revenue of $112 mln was slightly below average expectations, although adjusted earnings exceeded consensus, and the company announced a $140 mln buyback.

- FreightCar America (RAIL) stock plunged more than 22% as its quarterly revenue came in at $125.6 million with a consensus of $144.9 million, earnings came in weaker than average guidance, as did its own outlook for rail car demand.

March 9 trading on the U.S. stock exchanges ended in the plus, the upward reversal occurred in the second half of the session. S&P 500 added 0.83%, NASDAQ grew by 1.32%, Dow Jones rose by 0.5%, Russell 2000 added 1.12%.

The move was narrow, with the equal-weighted S&P 500 (RSP) lagging the "classic" by 55 bps. The technology sector (XLK: +1.8%) led the way, supported by its biggest names, including NVIDIA (NVDA: +2.72%) and Alphabet (GOOGL: +2.63%). Quotes of "growth" companies, highly volatile stocks and securities with a large share of short positions moved up. The outsiders were the financial (XLF: -0.47%) and energy (XLE: -0.44%) sectors, as well as telecoms and some companies from the media industry.

Market sentiment was determined by news about the conflict between the US and Iran. Early in trading, pressure on stocks intensified as WTI futures briefly exceeded $100 per barrel - the first time since July 2022. After Donald Trump's comments on the imminent end of the military operation in the Middle East, stock indices reversed upwards and oil prices moved into correction.

- Hims & Hers Health (HIMS: +40.8% at the close of trading on March 9) has entered into an agreement with Novo Nordisk (NVO: +3.1%) to sell Wegovy and Ozempic on its platform, effectively ending a long-running dispute over the pricing of these drugs. This opens up an additional distribution channel for their manufacturer.

-Xenon Pharmaceuticals (XENE: +49.6%) presented stronger-than-predicted results from a study of azetukalner. They demonstrated a statistically significant reduction in the frequency of focal epileptic seizures.

-Live Nation Entertainment (LYV: +6.2%) is close to settling antitrust proceedings with the US Department of Justice. According to media reports, the agreement may not include the sale of Ticketmaster, which was welcomed by investors.

-Universal Health Services (UHS: -1.1%) is buying platform Talkspace (TALK: +7.6%) at $5.25 per share, which implies a valuation of the online service for psychotherapy of about $835 million and a premium of about 10% to the previous close.

-Agilent Technologies (A: +1.4%) plans to acquire Biocare Medical, a company that specializes in clinical research solutions, for $950 million in cash by the end of the current fiscal year.

This article was AI-translated and verified by a human editor