The Dow (+1.3%) outperformed the Nasdaq (-0.36%) today in a shift from tech to value following a disappointing quarterly report from Oracle, following gains in Europe and declines in Asian equities. Treasuries ended basically flat, following slight advances in European fixed income, while expectations of cuts for 2026 implied in rate futures consolidated into a first cut between April and June and then another at the end of the year. In commodities, energy fell 1%, along with base metals, while gold/silver and agriculture advanced. The VIX fell to 15.2.

Venezuela and PDVSA advanced 0.25-0.5 points in response to a new round of sanctions against individuals and oil tankers linked to Venezuela, with Reuters reporting that they expect the US to intercept more tankers.

Latin American bonds had a good day overall, with the region's main bonds rising 0.25-0.5 points, except for Argentina, which fell an average of 0.3 points at the end of the day.