The market is showing remarkable resolve in the face of geopolitical uncertainty. All major indices are moving off morning lows, recovering into the green.

Notably, Nvidia (NVDA) and Palantir (PLTR) are seeing investors buy the dip in today’s session. Nvidia (NVDA) is benefiting from new investments and partnerships in Coherent (COHR) and Lumentum (LITE).

Three sectors are in the green. Energy (XLE) is in the lead driven by this weekend’s geopolitical tension, which as a result is giving a boost to oil prices. The runner up is Technology (XLK) which is seeing some dip buying. Palantir (PLTR) is a standout amid the conflict in Iran, and helping the broader software plays to garner some buying interest. Consumer Discretionary (XLY) is one of the laggards, in part due to weakness in cruise and travel-related names.

Iran Update

Trump made comments today indicating that the operation is ahead of schedule and was projected to last 4-5 weeks. He also indicated the operation can be extended if needed.

Economic Update

ISM Manufacturing PMI edged lower in February to 52.4 from 52.6 but remained above the anticipated move to 51.8.

Notable Points:

• New Orders eased to 55.8 from 57.1
• Production decelerated to 53.5 from 55.9
• Price Pressures intensified to 70.5 from 59