Kim Kahn

Hello, today is Sunday, March 22nd, and I'm your host, Kim Kahn.

It's a light week for economic data and earnings, meaning sentiment will remain closely tied to the conflict with Iran and what it means for oil and interest rates.

President Donald Trump said Saturday the U.S.

would obliterate Iran's power plants if the Strait of Hormuz is not reopened within 48 hours.

Prediction markets are signaling skepticism.

On Polymarket, traders assigned just a 30% chance that traffic returns to normal by the end of April.

CalSheet contracts imply a more gradual reopening, with about 39% probability of a May 15th opening, rising to 53% by June 1st and 59% by July 1st.

This straight handles about 20% of global oil shipments.

WTI crude briefly moved back above $100 a barrel in weekend trading on IG Index before easing back.

On the hyperliquid blockchain, oil was trading around $98 a barrel.

With oil putting upward pressure on inflation, expectations for Fed rate cuts this year have largely evaporated.

Fed funds' futures now indicate nearly a one-in-three chance that rates are higher at the end of the year.

On the earnings front, GameStop is likely the headline name among a light reporting slate.

There's limited analyst coverage, so no formal consensus, but the holiday quarter update carries added weight after CEO Ryan Cohen floated ambitions to turn the retailer into a Berkshire-style investment platform.

Cohen has discussed acquiring an undervalued, high-quality public consumer company run by what he calls a sleepy management team.

Any detail on deal size, timing, financing, or potential targets would move sentiment, but management hasn't had an earnings call in more than two years.

Seeking-off analyst Bernard Zambinin says he expects the results to offer little in the way of core fundamentals.

However, backing from high-profile investors like Michael Burry continues to support the stock's momentum and reinforces its appeal to those who view GameStop less as a retailer and more as an investment vehicle.

Also on the calendar, Chewy, PDD, and Beyond Meat report Wednesday, followed by Pony AI on Thursday.

BYD and Carnival report Friday.