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Federal Reserve Holds Rates at 3.50%–3.75%, Flags Sticky Inflation and Iran War Uncertainty; Markets Sell Off on Powell's Hawkish Tone

The Federal Reserve voted 11-1 to keep its benchmark rate unchanged at 3.50%–3.75% on Wednesday, while its updated dot plot showed only one rate cut projected for all of 2026 and Chair Jerome Powell delivered a more hawkish-than-expected press conference that rattled markets. The Dow fell 768 points to its lowest close since November, as investors processed Powell's warning that higher energy prices could reignite inflation and that the Fed had 'not made as much progress on inflation as hoped.'

Accenture Posts Record $22.1B Bookings and Raises Full-Year Guidance as Enterprise AI Spending Defies Macro Headwinds

Accenture reported Q2 fiscal 2026 revenue of $18.0 billion — beating estimates — on Thursday morning, while announcing record new bookings of $22.1 billion and raising its full-year revenue and earnings guidance. The results, which included 41 clients with quarterly bookings above $100 million, provide strong confirmation that enterprise demand for AI-driven consulting, technology transformation, and digital services remains robust even as the broader macroeconomic backdrop grows cloudier.

Gold Trades Near $4,571 as Stagflation Fears and Iran War Escalation Drive Safe-Haven Surge; J.P. Morgan Targets $5,055 by Year-End

Gold is trading near $4,571 per ounce on Thursday, having rallied sharply from under $3,000 earlier in 2025, as the Iran war, a hawkish Federal Reserve, and rising stagflation fears combine to make bullion one of the most compelling safe-haven assets in the current environment. J.P. Morgan Global Research is targeting $5,055 per ounce by year-end 2026, while some models project a path toward $6,500 if the energy crisis deepens and real yields fall as growth deteriorates.

Alibaba Reports Q3 Fiscal 2026 Results: Revenue Misses Estimates but Cloud and AI Growth Accelerate Ahead of Key Catalyst Period

Alibaba reported its December quarter fiscal 2026 results Thursday before the U.S. market open, posting earnings per share of $6.96 — missing the $11.88 consensus estimate — alongside revenue that fell short of expectations. However, the company's Alibaba Cloud and AI services divisions showed continued acceleration, and investors are closely watching for guidance on the company's capital allocation plans and the domestic Chinese economic environment heading into the new fiscal year.

FedEx Reports Q3 Fiscal 2026 After Close Thursday: DRIVE Cost Cuts, Middle East Freight Risk, and Freight Spin-Off Timeline in Focus

FedEx is set to report its fiscal Q3 2026 results after Thursday's market close, with analysts expecting revenue of approximately $23.5 billion and EPS of $4.13–$4.23. The report comes at a critical juncture: the company's DRIVE cost-reduction program is delivering structural margin improvements, but surging oil prices and Middle East shipping disruptions represent a near-term headwind that management will need to address. Investors are also watching for updates on the planned FedEx Freight spin-off, scheduled for June 2026.

Hot PPI Data Rattles Wall Street as Wholesale Inflation Surges 0.7% in February, Doubling Expectations

The Bureau of Labor Statistics reported Wednesday that the Producer Price Index jumped 0.7% in February — more than double the 0.3% consensus estimate — pushing annual wholesale inflation to 3.4%, its highest level in a year. The hotter-than-expected reading, driven by a 48.9% spike in vegetable prices and broad goods inflation of 1.1%, arrived hours before the Federal Reserve's rate decision and reignited stagflation fears across equity and bond markets.

Fed Holds Rates at 3.50%–3.75%; Dot Plot and Powell Press Conference in Focus as Iran War Complicates Inflation Outlook

The Federal Reserve is expected to hold the federal funds rate steady at 3.50%–3.75% on Wednesday, with 99% market certainty baked into futures pricing. The real event for investors is the quarterly dot plot and Chair Jerome Powell's press conference, where the central bank must reconcile surging wholesale inflation, energy prices above $100, and a softening labor market — an increasingly stagflationary combination.

Brent Crude Spikes to $106 After Iran Strikes South Pars Gas Field; Strait of Hormuz Fears Escalate

Global oil benchmark Brent crude spiked 3.1% to above $106 per barrel on Wednesday after Iran reported an attack on its South Pars natural gas processing complex — the world's largest gas field — in apparent retaliation for recent Israeli strikes. The development reignited fears that the conflict could escalate toward a full blockade of the Strait of Hormuz, through which roughly 20% of the world's oil supply transits daily.

South Korea's KOSPI Surges 5% to 5,925 as Samsung and SK Hynix Lead Record Institutional Buying Amid AI Memory Boom

South Korea's benchmark KOSPI index surged more than 5% on Wednesday, closing at 5,925.03 on record institutional net buying of 3.1 trillion won — the single largest institutional buy day in the exchange's history. Semiconductor giants Samsung Electronics and SK Hynix led the rally, reclaiming key psychological price levels at 200,000 won and 1 million won respectively, as investors positioned ahead of Micron Technology's blockbuster earnings expected after the U.S. close.