Market Talks covering the impact of U.S. Politics and White House policies on companies and markets. Published exclusively on Dow Jones Newswires throughout the day.

0217 ET - What has been unsual is that the conflict in Iran has not produced a clear flight-to-quality rally, says Thornburg Investment Management's Christian Hoffmann in a note. "The flight to quality we saw in February flipped in March, with bonds and equities moving more in tandem as inflation and supply concerns overtook pure risk aversion," the head of fixed income says. The environment is a carry-dominated one, with "very little margin for error," while spreads remain historically tight, which makes selectivity, liquidity, and discipline especially important, he says. (emese.bartha@wsj.com)

2306 ET - Oil prices remain elevated during Asian trading. U.S. President Trump said in a post on Truth Social that no more attacks will be made by Israel "pertaining to this extremely important and valuable South Pars Field unless Iran unwisely decides to attack a very innocent, in this case, Qatar." Still, he warned if Iran still decides to attack Qatar, "the United States of America, with or without the help or consent of Israel, will massively blow up the entirety of the South Pars Gas Field at an amount of strength and power that Iran has never seen or witnessed before." Front-month WTI crude oil futures are 0.6% higher at $96.93 per barrel; front-month Brent crude oil futures are 4.4% higher at $112.12 a barrel. (ronnie.harui@wsj.com)

1505 ET - Fed Chair Powell says he has no intention of leaving the Fed until the Justice Dept.'s investigation is well and truly over in a news conference following the March interest rate decision. Powell adds that he has not decided if he will stay on as Fed Governor after the investigation ends. If President Trump's new appointee for chair, Kevin Warsh, isn't confirmed by the end of his term, Powell says he will serve as chair pro tem until Warsh is confirmed. (jessica.coacci@wsj.com; @jessica_coacci)

1220 ET - CBOT grain futures are higher in midday trading, with corn and wheat being buoyed by strength in crude oil futures. Light crude futures are up 2.3%, while Brent crude is up 5% - which in turn is giving feedstock prices support. The White House says that the Jones Act will be temporarily paused for 60 days, which is designed to lower freight costs amid the high oil prices. "President Trump is hoping that it eases the inflationary pressures on imports," says Arlan Suderman of StoneX. That won't directly affect grain prices - but it could potentially increase demand for imports, which would extend to grains, says Suderman. CBOT corn is up 1.5%, soybeans are up 0.1%, and wheat is up 2.1%. (kirk.maltais@wsj.com)

1151 ET - General Motors' fears that President Trump's tariffs would spell doom for its business model didn't play out, with the import taxes ultimately being manageable for the automaker, CFO Paul Jacobson says at the Bank of America Global Automotive Summit. "What we found is that the auto industry is really, really important to the administration," he says, adding that the administration landed on a "nice, sort of narrow path" to maintain competitiveness while supporting the industry. "Would we rather not pay $3 billion in tariffs? Probably," Jacobson says. "But at the end of the day, I think what we've seen, we can adapt to that." He adds that GM managed to offset more than 40% of tariff costs by reducing expenses and changing its manufacturing footprint. (elias.schisgall@wsj.com)

1147 ET - Sterling looks vulnerable and could depreciate further versus the dollar and euro as U.K. growth is weak, Insight Investment's Francesca Fornasari says in a note. The U.K. also faces political risk as the country heads to local elections in May, she says. High energy costs due to the Middle East war pose a challenge to U.K.'s growth and inflation outlook, Fornasari says. These factors could cause sterling to weaken further against the dollar and euro, she says. Sterling falls 0.2% versus dollar to 1.3324 while the euro rises 0.1% to 0.8644 pounds. (miriam.mukuru@wsj.com)

1034 ET - Oil prices climb in afternoon trading, with Brent crude above $109 a barrel following reports that Iran issued an evacuation warning to oil facilities across the Gulf. The international oil benchmark is up 5.1% to $109.42 a barrel, while the U.S. oil gauge WTI is up 2.7% to $94.14 a barrel. The news came after Israel struck Iran's South Pars gas field, the largest such facility in the world, pushing European natural-gas prices up 7.3% to 55.30 euros a megawatt-hour. Meanwhile, President Trump authorized foreign-flagged vessels to transport commodities between U.S. ports by issuing a 60-day waiver of a longstanding shipping law, the Jones Act. (giulia.petroni@wsj.com)

1002 ET - Eurozone and U.K. government bond yields climb, reversing earlier declines, as oil prices turn higher, with Brent crude advancing 5.7% to $109.13 per barrel. Oil prices jump after Iranian state media reported explosions in the world's largest gas field, raising concerns about the potential for further escalation. The Middle East war is driving up energy prices and raising concerns about a potential resurgence in inflation. As a result, money markets are pricing in the potential for rate increases from the European Central Bank and the Bank of England in the coming months, LSEG data show. Ten-year Bund yields rise 2.6 basis points to last trade at 2.938%, Tradeweb data show. Ten-year gilt yields climb 3.9bps to 4.740%. (miriam.mukuru@wsj.com)

0355 ET - Gold prices hold broadly steady as investors await remarks from Federal Reserve Chair Jerome Powell in light of rising inflation risks driven by the Middle East conflict. In early trading, futures in New York are flat at $5,010.10 a troy ounce. "Continued U.S. and Israeli strikes, Iran's retaliation across the Gulf and disrupted shipping through the Strait of Hormuz have intensified concerns over global energy supply and inflation, reducing the likelihood of near-term rate cuts," says Soojin Kim from MUFG. Still, gold remains up about 15% this year, as persistent geopolitical and economic growth uncertainties reinforce its appeal as a long-term safe haven.(giulia.petroni@wsj.com)

(END) Dow Jones Newswires

March 19, 2026 02:17 ET (06:17 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.