Closing Bell Closing Bell Overtime: Stocks Gain Despite Oil’s Rise; Finding Tech Opportunities Outside of U.S. 3/17/26
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Mar 17, 2026 Tim Hayes, Chief Global Investment Strategist at Ned Davis Research, explains his firm’s move to trim equity exposure and favor bonds and cash. Conversation covers rising volatility, weakening market breadth, oil’s market impact, where tech opportunities may emerge globally, and signals from airlines and earnings. Short, market-focused takeaways without deep investment advice.
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Middle East Supply Hits Regional Prices Not Atlantic Benchmarks
- Despite geopolitical disruptions, WTI and Brent remained relatively contained as Atlantic benchmarks, while Dubai and Oman cash prices jumped near $155, signaling Gulf-origin shortages.
- Pippa Stevens warned product markets show demand destruction in Asia and jet fuel and diesel have surged, pressuring consumers and airlines.
S&P Hit A Rare Oversold Extreme
- The S&P entered a rare oversold condition closing three standard deviations below its 50-day moving average.
- Paul Hickey noted this is in the 99th percentile historically and typically appears around major shocks, even though surface volatility looked calm.
Oil Could Decide Market Direction
- Oil is the deciding factor for whether the market resumes a relief rally or suffers more technical damage.
- Hickey pointed out oil has risen roughly $2 a day since the war began, which, if extrapolated, could push crude toward $150 quickly and worsen market stress.