5 Things to Watch on
March 2, 2026

Markets are down more than -1% in premarket trading as escalating strikes between the U.S., Israel, and Iran rattle global sentiment and trigger a sharp flight from risk assets. Oil briefly surged as much as +13% on concerns around the Strait of Hormuz, an artery that carries roughly 20% of global energy supply, fueling fears of sustained supply disruptions. Energy and defense stocks are catching bids, with Exxon (XOM) and Lockheed Martin (LMT) trading higher, while airlines such as Delta (DAL) are sliding amid airport disruptions and grounded flights across the Middle East. Gold is advancing alongside the U.S. dollar as investors rotate into traditional safe havens.

Berkshire Hathaway (BRK) is down over -1% in premarket trading after reporting a -29% YoY decline in Q4 operating earnings to $10.2B, pressured by a -54% drop in insurance underwriting profit. Insurance investment income also fell nearly -25%, weighing on overall results. For full-year 2025, operating earnings declined to $44.5B from $47.4B, while net income was hit by a $4.5B impairment tied to Kraft Heinz (KHC) and Occidental (OXY). With no share buybacks and a slight dip in its cash pile to $373.3B, investors are focusing on softer insurance performance during the leadership transition to CEO Greg Abel.

Anthropic CEO Dario Amodei says the Trump administration retaliated against the company after it refused to loosen safeguards on military use of its AI, prompting a federal ban and the cancellation of over $200M in contracts. The dispute centers on Anthropic’s “red lines,” including bans on mass surveillance and fully autonomous weapons without human oversight. Defense officials labeled the firm a national security “supply chain risk,” an unprecedented move for a U.S. company, while Anthropic maintains it has been politically neutral and is weighing legal action.

Lumentum (LITE) and Coherent (COHR) are up over +8% in premarket trading after Nvidia (NVDA) announced expanded partnerships and multi-billion-dollar purchase commitments with both companies. NVDA will invest $2B in each firm to support R&D and capacity expansion tied to advanced laser and optical networking components for next-generation AI data centers. The agreements provide NVDA future capacity access rights, reinforcing demand visibility for optical suppliers as AI infrastructure buildouts accelerate.

DraftKings (DKNG) is down over -1% in premarket trading after outlining long-term growth plans at its Investor Day. Management projected a $55B to $80B 2030 industry opportunity, highlighted expansion of DraftKings Predictions nationwide, and introduced a new integrated Super App. The company reiterated a long-term target of at least 30% EBITDA margins, but shares eased amid broader market pressure and competitive dynamics.