A Clean Green Sweep Across Major Averages
Markets built on the previous week's momentum with an emphatic show of strength, as all four major US averages closed higher on the day. The broad-based rally signaled continued investor optimism, even as geopolitical tensions simmered in the background.
Iran Tensions Push Crude Oil to $115
President Trump held a press conference addressing the conflict in Iran, striking a confident tone by stating that things were going "unbelievably well" while also warning that Iran could be "taken out in one night" — potentially as soon as Tuesday night. While equity markets largely took the rhetoric in stride, crude oil told a different story, spiking as high as $115 a barrel. The surge in oil prices reflects the market's sensitivity to any escalation in the Middle East, a region critical to global energy supply.
Seagate Technology: The New Top Pick in IT Hardware
Seagate Technology was one of the day's standout performers, closing up roughly 6% after Morgan Stanley named it the top pick in the IT hardware space, replacing Western Digital. The endorsement caps a remarkable run for Seagate, whose stock has risen over 500% in the past year. The thesis is straightforward: investors increasingly view Seagate as a critical player in AI infrastructure. Data centers are driving surging demand for high-capacity hard drives used in large-scale data storage and archiving — and Seagate is positioned squarely at the center of that trend.
Goldman Sachs Upgrades Netflix Ahead of Earnings
Goldman Sachs upgraded Netflix to a buy rating from neutral, raising its price target to $120 from $100 ahead of the company's earnings report next Thursday. The rationale centers on a more favorable risk-reward profile, with Netflix stock down 18% over the prior six months. Goldman expects the earnings report to demonstrate a strong start to 2026, as Netflix continues to execute well against its core strategic priorities. Netflix closed the session up modestly, with investors likely positioning ahead of the report.
Looking Ahead
The next session brings earnings from Levi Strauss after the bell, along with durable goods data — offering fresh reads on both the consumer and manufacturing sectors. With markets riding a wave of green and several catalysts on the horizon, investors will be watching closely to see if the momentum holds.