Morning Bid: March is the cruellest month

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crossing $4 per gallon for the first time in more than three years.The war’s expected timeline shifts from headline to headline. For those betting ‌the conflict will end soon, the Wall Street Journal provided some ammunition, reporting on Monday that President Trump was prepared to end the war without opening the Strait of Hormuz - an encouraging thought that's lifted ​U.S. stock futures on the last day of a bruising March.I’ll get into that and more below.But first, check out my latest column on how markets are giving central banks room to pause amid the energy shock.And listen to today’s Morning Bid podcast, where I take stock of the first quarter's major market moves. Subscribe to hear Reuters journalists discuss the biggest news in markets and finance seven days a week.MARCH IS THE CRUELLEST MONTHWhile the WSJ report indicates that Trump is looking for an immediate offramp, those pessimistic ‌about the duration of the war may focus more on ⁠the Iranian attack on an oil tanker in the Gulf that took place early Tuesday - as well as further reports of U.S. troops arriving in the region, this time 2,500 Marines.Crude prices were choppy on Tuesday morning, ebbing slightly before climbing again to leave ⁠Brent hovering around $115 per barrel and U.S. crude around $104.Stocks were mixed, meantime, with Wall Street futures in the green before the bell. And while European shares edged up on de-escalation hopes, the pan-European STOXX 600 still remains on track for its sharpest monthly fall since 2020.Elsewhere, Asian trading had another painful session as major indexes closed lower - with South Korea's KOSPI suffering ​its ​steepest monthly fall since 2008.U.S. Treasury yields eased on Monday, though they remain on track for ​a steep monthly rise, with eurozone bond yields dipping as well. ‌Fed Chair Jerome Powell helped the recovery in Treasuries yesterday when he noted that long-term inflation expectations remained “well anchored” - though he otherwise said the Fed would “wait and see” how the war ultimately impacts inflation.But as the IMF pointed out on Monday, "all roads lead to higher inflation and slower growth". In that vein, eurozone inflation leapt to 2.5% in March from 1.9% previously, while on Monday fresh German inflation data showed a jump to 2.8% from 2.0%.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoTrending tickersBTC-USD Bitcoin USD 66,305.71 -1,137.51 (-1.69%)BFRG Bullfrog AI Holdings, Inc. 1.0500 +0.5417 (+106.57%)ON ON Semiconductor Corporation 55.66 -2.69 (-4.61%)WDC Western Digital Corporation 251.67 -23.67 (-8.60%)ALAB Astera Labs, Inc. 100.27 -12.20 (-10.85%)PortfolioSign in to access your portfolioSign inTop gainersUTHR United Therapeutics Corporation 588.36 +65.53 (+12.53%)BBWI Bath & Body Works, Inc. 18.67 +1.87 (+11.13%)CLMT Calumet, Inc. 35.04 +2.98 (+9.30%)GRDN Guardian Pharmacy Services, Inc. 37.25 +3.09 (+9.05%)AGRO Adecoagro S.A. 15.25 +1.20 (+8.54%)Top losersALMS Alumis Inc. 20.21 -4.59 (-18.51%)LASR nLIGHT, Inc. 54.00 -10.32 (-16.04%)SYY Sysco Corporation 69.30 -12.50 (-15.28%)NN NextNav Inc. 15.27 -2.60 (-14.55%)APLD Applied Digital Corporation 20.55 -3.21 (-13.53%)Most activeNVDA NVIDIA Corporation 165.17 -2.35 (-1.40%)SNAP Snap Inc. 4.0200 +0.0900 (+2.29%)INTC Intel Corporation 41.19 -1.94 (-4.50%)MU Micron Technology, Inc. 321.80 -35.27 (-9.88%)ONDS Ondas Inc. 8.15 -0.65 (-7.39%)Top economic eventsEarnings eventsMy earnings eventsEarnings events