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US500 (SP500) UPDATE
- Trading a range around the pivotal 6800 level (currently above) after stops run below key 6774 (low 6760) and then subsequent bounce back above it.
- A dip in crude oil off the high may be giving equities a lift. Watch 6850 as it could be pivotal. Key level is 6882.
US500 4 HOUR CHART
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March 2 Pre-Market Earnings Release Stocks
(BRK.B) Berkshire Hathaway’s fourth-quarter operating profits fell 30% to $10.2 billion, mainly due to a $1.56 billion noncash goodwill impairment affecting four subsidiaries, including Pilot.
(NCLH) Norwegian Cruise Line posted net income of $14.3 million for the quarter, or 3 cents a share, down from $254.5 million, or 52 cents a share, the year prior. Revenue rose 6% to $2.24 billion. Wall Street expected $2.34 billion. Reported net yield rose 4%, beating analysts’ forecast of 3.9%.
(XERS) Xeris Biopharma achieved record total revenue of $85.8 million, a 42.8% increase compared to $60.1 million in the same period of 2024. The net income for the quarter was $11.1 million, a significant improvement from a net loss of $5.1 million in Q4 2024
Newsquawk Daily US Opening News – 2nd March 2026
(Right click on any chart or image and open a full screen in a new tab)
XAUUSD (GOLD) UPDATE
- The only question for GOLD bulls is whether the current move up can reach the 5596 record high. For that o occur, pivotal 5500 would need to be broken and become support. High so far 5419.
- Going by the chart, minor support 5340 and key support (keeps a bid while above it) 5303.
XAUUSD 1 HOUR CHART
XBRUSD (BRENT OIL) UPDATE
- All eyes are on $80 (high 80.60, last 79.00) more than any specific chart level after a gap open higher to start the week. I won’t even mention $100 oil but this is what talk would be if $80 is firmly broken.
- On the other side, back below 73,65 (gap) would be needed to cool the risk.
- Use short-term charts if looking to trade in this volatile, geopolitical market.
XBRUSD WEEKLY CHART
Forex Market Snapshot
- Markets opening the week with the USD up (but off its highs), GOLD up, crude oil up while only US treasuries diverging (yields up slightly) in a textbook reaction to this growing geopolitical crisis.
- CAD is outperforming , down just slightly, as it benefits as an oil exporter.
- CHF is firmer on its crosses on safe haven flows but is still down vs the USD
- As noted, markets hate uncertainty so look for the reaction to headlines to drive intra-day price action. Keep an eye on the crude oil market as the price action there will impact risk sentiment elsewhere.
- US data: US ISM Manufacturing PMI (Feb)
Could lead to some caution but just adds to the uncertainty. Issue with talk of negotiations is there is a power vaccuum on the Iran side, making it hard to find a viable negotiating partner.
Iran’s nuclear chief Larijani seeks nuclear talks with the US
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