Trump Warns of Iran Energy Strikes as Markets Bounce Back
Markets are up more than +0.8% in premarket trading as investors attempt to shake off a brutal prior week in which the S&P 500 shed more than -2%, with attention fixed on the U.S.-Iran conflict now entering its fifth week. President Trump struck an optimistic tone on negotiations, saying the U.S. is now in talks with a "new and more reasonable regime" in Tehran, while simultaneously issuing his starkest threat yet: if a deal is not reached and the Strait of Hormuz is not immediately reopened, the U.S. will destroy Iran's electric plants, oil wells, and Kharg Island.
Ackman Urges Investors to Buy Quality as War Creates Opportunity
Pershing Square's Bill Ackman took to X to call the Iran conflict "one of the most one-sided wars in history" and urged investors to buy quality stocks trading at unusually low prices, citing the potential for a "large peace dividend." Ackman specifically highlighted Fannie Mae (FNMA) and Freddie Mac (FMCC) as "stupidly cheap" with 10x upside potential, a view echoed by "Big Short" investor Michael Burry, as both stocks sit down over -60% from their six-month highs near 52-week lows.
OpenAI's ChatGPT App Platform Struggles to Gain Traction
Six months after launch, OpenAI's ChatGPT mini app initiative has seen sluggish progress, with 300+ integrations hidden away and limited by partners reluctant to cede customer relationships and payments. Major partners including Booking (BKNG) and StubHub (STUB) report minimal referral traffic, few apps offer true in-app checkout, and developers have flagged a buggy approval process and lack of usage analytics. The struggles add to a string of recent OpenAI retreats, including the shutdown of Sora and the scrapping of its Instant Checkout feature.
Rocket Lab Completes First ESA Mission
Rocket Lab (RKLB) rose +1.3% premarket after the news. RKLB successfully launched its 85th Electron rocket mission on March 28th, deploying ESA's "Celeste" payload to low Earth orbit at 510 km altitude. The mission, RKLB's sixth of 2026, carried two satellites for a European navigation demonstration program designed to complement the Galileo constellation.
Toyota February Sales Slip on China EV Pressure
Toyota Motor (TM) reported global February sales of 806,905 units, down -2.3% YoY, as intensifying EV competition in China and weak domestic demand weighed on results. Toyota and Lexus brand sales fell -13.9% in China, where production declined -11.5%, partly due to Lunar New Year timing. The figures do not yet reflect any impact from the Iran conflict that began at month-end.
