{"id":1233064,"date":"2026-03-02T11:38:14","date_gmt":"2026-03-02T09:38:14","guid":{"rendered":"https:\/\/www.etoro.com\/?p=1233064"},"modified":"2026-03-02T17:43:08","modified_gmt":"2026-03-02T15:43:08","slug":"oil-defense-stocks-jump-on-geopolitical-escalation","status":"publish","type":"post","link":"https:\/\/www.etoro.com\/en-us\/news-and-analysis\/the-daily-breakdown\/oil-defense-stocks-jump-on-geopolitical-escalation\/","title":{"rendered":"Oil, Defense Stocks Jump on Geopolitical Escalation"},"content":{"rendered":"

The Daily Breakdown looks at markets as geopolitical tensions escalate in the Middle East. The S&P 500 tests a recent support level.<\/p>\n

Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. <\/span><\/i>To keep getting our daily insights<\/i><\/b>, all you need to do is <\/span><\/i>log in<\/span><\/i><\/a> to your eToro account.<\/span><\/i><\/p>\n

What’s Happening?<\/b><\/h2>\n

This week is starting with a jolt of geopolitically driven volatility after a coordinated strike in the Middle East over the weekend. Oil and the <\/span>USO<\/span><\/a> ETF are spiking, lifting energy stocks, with the <\/span>XLE<\/span><\/a> ETF up about 4% in pre-market trading. Meanwhile, the other 10 sectors are lower as the S&P 500<\/a> is down about 1%, while the Nasdaq 100<\/a> and Russell 2000<\/a> are under even more pressure.<\/span><\/p>\n

Silver<\/a> and gold<\/a> are higher as investors rotate to safety, and the US dollar is up as well. Bitcoin<\/a> is roughly flat, as are Ethereum<\/a>, Solana<\/a>, and other major cryptocurrencies \u2014 following a notable lack of volatility through the weekend.<\/span><\/p>\n

Overall, if uncertainty persists or tensions escalate, volatility could stay elevated and keep investors tilted toward defensive assets.<\/span><\/p>\n

What to Watch<\/b><\/h4>\n

Friday\u2019s jobs report is the key macro event, while the earnings calendar includes: Target<\/a>, Best Buy<\/a>, CrowdStrike<\/a>, Costco<\/a>, and Broadcom<\/a>.<\/span><\/p>\n

Want to receive these insights straight to your inbox?<\/strong><\/p>\n

Sign up here<\/a><\/p>\n

The Setup \u2014 SPY ETF<\/b><\/h2>\n
\"Daily
Chart as of 8:30 a.m. ET on 3\/2\/2026. Source: eToro ProCharts, courtesy of TradingView.<\/figcaption><\/figure>\n

With this morning\u2019s move, the <\/span>SPY<\/span><\/a> ETF is once again testing the $670 to $675 support zone. The $695 to $700 area has also acted as resistance for much of 2026. If volatility keeps rising, traders will be watching to see whether support breaks and a deeper pullback develops \u2014 or if it holds and gives bulls more confidence.<\/span><\/p>\n

Options<\/b><\/h4>\n

The <\/span>SPY<\/span><\/a> ETF is one the few assets that supports daily expiration.\u00a0<\/span><\/p>\n

Investors who are bullish could consider calls or call spreads as one way to speculate on further upside, while bearish investors could consider puts or put spreads to speculate on a further move to the downside. For options traders, it may be advantageous to have adequate time until the option\u2019s expiration.\u00a0<\/span><\/p>\n

To learn more about options, consider visiting the <\/span>eToro Academy<\/span><\/a>.<\/span><\/p>\n

What Wall Street’s Watching<\/h2>\n

LMT<\/b><\/p>\n

Lockheed Martin<\/a> is jumping this morning and is on track for fresh all-time highs as defense stocks rally amid escalating geopolitical tensions. Northrop Grumman<\/a>, Boeing<\/a>, L3Harris<\/a>, RTX<\/a>, and General Dynamics<\/a> are also trading higher.<\/span><\/p>\n

NVDA<\/b><\/p>\n

Despite strong earnings results, Nvidia<\/a> declined more than 6% last week. Shares are under slight pressure this morning as investors now eye the recent $170 to $175 area as possible support, alongside the 200-day moving average. <\/span>Check out NVDA\u2019s chart<\/span><\/a> or <\/span>dig into its fundamentals<\/span><\/a>. <\/span><\/p>\n

Disclaimer:<\/i><\/b><\/p>\n

Please note that due to market volatility, some of the prices may have already been reached and scenarios played out.<\/i><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"

The Daily Breakdown looks at markets as geopolitical tensions escalate in the Middle East. The S&P 500 tests a recent support level. Before we dive in, let\u2019s make sure you\u2019re set to receive The Daily Breakdown each morning. To keep getting our daily insights, all you need to do is log in to your eToro…<\/p>\n","protected":false},"author":130,"featured_media":819735,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[6894],"tags":[],"asset_type":[],"class_list":["post-1233064","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-breakdown"],"acf":[],"yoast_head":"The Daily Breakdown: Oil, Defense Stocks Jump on Geopolitical Escalation<\/title>\n<meta name=\"description\" content=\"The Daily Breakdown looks at markets as geopolitical tensions escalate in the Middle East. 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