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MIB: Paper-Thin S&P/Nasdaq Records as Hormuz Re-Escalates, OpenAI Decouples from Microsoft, & Powell Convenes His Final FOMC

S&P 500 (+0.12%) and Nasdaq (+0.01%) eked out paper-thin records as Brent spiked above $101 on stalled Hormuz talks. Trump cancelled Pakistan envoys; IEA warned supply won’t recover for two years. Qualcomm surged 12% on a report OpenAI is building an AI smartphone chip with QCOM and MediaTek. Microsoft-OpenAI exclusivity ended, freeing OpenAI to deploy on AWS/GCP. Powell’s likely final FOMC opens Tuesday; Warsh Senate vote Wednesday. Verizon posted its first positive Q1 phone adds in 13 years.

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MIB: WTI -9.5%, S&P Reclaims 200-DMA, Gold Unwinds as Iran Ceasefire Hopes Muddy the Picture

WTI crashed 9.5% after Trump announced a 5-day pause on Iran strikes — but markets rallied, S&P 500 +1.15% back near 6,580. Gold shed 3.6% as safe-haven bids unwound. Palantir +6.7% on a Pentagon Maven AI contract. S&P reclaimed the 200-DMA after a 3-day streak below. GDPNow slipped to 2.0%, its lowest this cycle. Bitcoin +4.5% to $71K.

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MIB: January PPI Beats, China Tariffs Escalate, Iran Risk Surges, and Dell Defies the Tech Rout

Hot PPI (+0.5%) ignites stagflation fears, sending Dow -521 pts and 10Y yield below 4% for first time in 4 months. Trump announces extra 10% China tariff effective March 4. S&P 500 logs worst February since March 2025 on AI-inflation-tariff triple threat. Gold surges to $5,200+ record as US evacuates Israel embassy staff on Iran war fears. Dell (DELL +16.64%) bucks the selloff with record $9B AI server quarter.

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