The major indexes experienced their worst week in a year, but bulls battled back to close us green for today, at least. However, tariff fears and economic uncertainty continue to rule the day. With earnings season mostly over, investors are finding little to focus on besides the daily swings in geopolitics and economic policy. 👀

Today's issue covers the latest economic updates, the S&P 500’s quarterly rebalance, and more from a wild day (and week) on Wall Street. 📰

Here’s the S&P 500 heatmap. 9 of 11 sectors closed green, with utilities (+1.86%) leading and financials (-0.53%) lagging.

And here are the closing prices: 

Those hoping for February’s nonfarm payrolls data to give a clear indication of where the labor market is headed were left sorely disappointed. Even as other leading indicators show signs of a continued slowdown, the bears did not get the “ace in the hole” they sought.

Instead, February’s 151,000 jobs were slightly lower than the 170,000 expected but above a downwardly revised 125,000 figure in January. The unemployment rate ticked higher to 4.1% as labor force participation slumped to 62.4%. 📊

Average hourly earnings were up 0.3% MoM and 4% YoY, slightly missing estimates. However, the labor market remains tight enough to keep wage growth above inflation’s rate, but not so tight that prices get out of control again.

It was a “good enough” jobs report with something for bulls and bears, especially with Jerome Powell saying that the Fed doesn’t need to be in a hurry to adjust rates.

Meanwhile, Trump’s tariff plans continue their wild turns. Today he suggested that tariffs on Mexico and Canada could go even higher than the 25% amount currently in place (and paused just yesterday). 🤦

The markets can deal with bad news, but they cannot deal with uncertainty. And right now, there is too much uncertainty.

Stocks battled back to close off the lows, but sentiment remains bearish into the weekend. Even Crypto investors were disappointed by today’s “White House Crypto Summit,” which lasted just 21 minutes. How’s that for a catalyst… 🙃

Apple has entered the smart home race with its new Smart Display, firing a $158B signal that connected homes are the future.

When Apple moves in, it doesn’t just join the market — it transforms it.

One company has been quietly preparing for this moment.

Their smart shade technology already works across every major platform, perfectly positioned to capture the wave of new consumers Apple will bring.

While others scramble to catch up, this startup is already shifting production from China to its new facility in the Philippines — built for speed and ready to meet surging demand as Apple’s marketing machine drives mass adoption.

With 200% year-over-year growth and distribution in over 120 Best Buy locations, this company isn’t just ready for Apple’s push — they’re set to thrive from it.

Shares in this tech company are open at just $1.90.

Apple’s move is accelerating the entire sector. Don’t miss this window.

Act Fast- Apple’s Halo effect is coming

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The Stocktwits Cashtag Awards are live, and voting has started! There are over a dozen categories, and we’ll be highlighting one in each newsletter until voting closes

The 2024 Cashtag of the Year honors the stock that captivated the online investing community through unparalleled engagement, remarkable company performance, or both! As the signature award, it highlights the fusion of market impact and social media resonance, showcasing the power of digital discourse. Vote now below! 🗳

Want to ask the CFO of buy-now, pay-later stock Affirm $AFRM ( ▼ 6.82% ) a question? Leave a comment on the post below and tune in to see his answers on March 18th!

Intuitive Machines ($LUNR -27%): The company disclosed that its IM-2 mission lunar lander, Athena, landed on its side 250 meters from its intended landing site in the Mons Mouton region of the lunar south pole. Stocktwits sentiment stayed bullish.

Blackstone ($BX +1%): Raised $8 billion for its most recent real estate debt fund, which will be active in North America, Europe, and Australia. It comes at a time when investors are searching for direct bets on an office space revival.

Mammoth Energy Services (-6%): Gave back its pre-market gains as investors digested widening losses and a marginal uptick in revenue growth.

Wolfspeed ($WOLF +17%): The semiconductor company announced job cuts to accelerate its push toward positive free cash flow. It expects to cut headcount by 20% as it scales back certain manufacturing capabilities.

Below are highlights from the S&P indices’ latest quarterly rebalance.

Joining the S&P 500: DoorDash ($DASH), TKO Group Holdings ($TKO), Williams-Sonoma ($WSM), and Expand Energy ($EXE). Leaving the S&P 500: Dow ($DOW), Kraft Heinz ($KHC), and Ford Motor ($F).

Some other notable movers are Hims & Hers Health ($HIMS) joining the Mid-Cap 400 alongside Alaska Air Group ($ALK). And Palantir Technologies ($PLTR), Intuitive Surgical ($ISRG), and ServiceNow ($NOW) are joining the S&P 100.

The stocks on this rebalance list will likely be in play through the end of March, as they’ll begin trading in their new positions on Monday, March 24.

Special guest “The Tariffer” joins hosts Ben and Emil to talk about the latest economic chaos, the market’s $1.15 trillion one-day wipeout, Jerome Powell staying on the sidelines, Sam Bankman-Fried’s prison interview with Tucker Carlson, the wild world of futures trading, and a whole lot more!

You do not want to miss this one, folks. 🫣

📰 Simple, quick, actionable. Invest like a pro with IBD’s MarketDiem newsletter for only $20/year*

🤖 Shield AI raises $240M at a $5.3B valuation to commercialize its AI drone tech

🏬 Macy’s turnaround hinges on revamping some stores and closing others. It appears to be working

🚀 SpaceX’s Starship spacecraft explodes midflight for a second time, disrupting Florida air traffic

🧑‍⚖ Judge declines to block Paramount-Skydance merger but sets pension fund lawsuit on expedited schedule

⛏ Bitcoin miners Hut 8, Marathon outshine Coinbase as retail favorites among Rosenblatt’s crypto-linked stock picks

🧀 JPMorgan doubts Trump’s Bitcoin strategic reserve strategy, as others propose cheesy solution – retail's divided

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