The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.
0714 GMT - President Trump's claim of "very good and productive" negotiations with Iran signals his attempt at de-escalation, according to Pepperstone's Michael Brown. After Trump said Washington and Tehran held conversations, Iran denied them, but "whether or not talks have taken place is somewhat immaterial," the research strategist says in a note. The move signals that Trump has reversed the ultimatum issued over the weekend and seems to be pursuing de-escalation for the first time since the conflict began. "We might finally be seeing a faint chink of light at the end of the tunnel when it comes to the ongoing Middle East conflict." (sherry.qin@wsj.com)
0536 GMT - Ather Energy's new EL platform is likely to help drive profitability, Ambit Capital analysts say in a research report. The modular low-cost architecture platform enables multi-product development to penetrate the market for electric scooters priced below INR125,000 and build scale, the analysts say. Phased capacity addition ensures margin accretion via utilization and higher integration. The Indian electric two-wheeler maker's so-called moat is technology, intellectual property, powertrain and software driven by strong research and development. Its pricing discipline, brand and charging infrastructure also help defend market share. The brokerage initiates coverage of the stock with a buy rating and a target price of INR929.00. Shares are 0.7% higher at INR753.65. (ronnie.harui@wsj.com)
0530 GMT - Li Auto's bottom line is likely to have come under pressure in 1Q after a weak 4Q, HSBC analysts say in a note. Yuqian Ding and Li Yang forecast a 1.9 billion yuan net loss in 1Q, driven by lower seasonal volumes, destocking discounts and higher input costs. While the Chinese automaker's American depositary receipts have been relatively flat year to date, suggesting near-term headwinds are largely priced in, a meaningful volume recovery in 1H is likely limited, they say. The new L9 and other refreshments in its L series could be critical for 2026 volume momentum, they say. HSBC slashes its 2026 and 2027 earnings forecasts by 70% and 26%, respectively, on lower revenue assumptions, citing a weaker volume outlook and gross margin compression. It maintains a hold rating on Li Auto and cuts the target to $17.20 from $18.60. ADRs last closed at $17.13. (monica.gupta@wsj.com)
0435 GMT - The BOJ is watching wage and price trends amid war in the Middle East with the unease of a bank that wants demand-led inflation but may get cost-push inflation instead, HSBC economists say. Preliminary Shunto results signal solid pay increases, but real wages remain under pressure from inflation, now complicated by Middle East-driven energy shocks, Justin Feng and others say. That could disrupt the wage-price dynamic the BOJ wants to see. HSBC expects just one 25-basis-point hike this year in July, but a prolonged Middle East conflict could pull forward tightening or add pressure for more moves. That leaves the BOJ in a familiar bind: Hike too soon and risk clipping fragile growth, or hold back and risk damaging household confidence, plus U.S. scrutiny if the yen weakens excessively. (fabiana.negrinochoa@wsj.com)
1710 GMT - Uber Technologies is among the best positioned to benefit as autonomous vehicles expand globally given the company's size and scale, Citi analysts say in a note. Uber's list of AV partnerships has grown recently with partners like Nvidia, Zoox, Wayve and Nissan, and Rivian, the analysts say. As a result, Uber will likely be testing or operating AVs across 18 cities globally by the end of this year, up from 15 announced as of the fourth quarter, the analysts say. With so many collaborations in the works, Uber looks increasingly set to hit its goal of becoming the largest facilitator of AV trips by 2029, they say. "We continue to believe Uber is increasingly becoming the marketplace for AV providers to commercialize at scale and we look for Uber to continue announcing newer partnerships going forward," they say. (kelly.cloonan@wsj.com)
1530 GMT - Oil prices extend losses, with Brent crude back below $100 a barrel after President Trump said the U.S. would postpone strikes on Iranian energy infrastructure for five days following "productive" talks with Tehran. The international oil benchmark dives 13% to $98 a barrel, while the U.S. oil gauge WTI is down 12% to $83.8 a barrel. Iran's Foreign Ministry denied Tehran was in talks with the U.S., according to state media. European natural-gas prices also slump, with the benchmark Dutch TTF front-month contract down 8.7% to 54.13 euros a megawatt-hour. (giulia.petroni@wsj.com)
1505 GMT - Canadian stocks opened the week with solid gains after President Trump ordered a five-day pause on energy-related strikes in Iran, lifting sentiment across consumer services, mining, and commercial services. The relief rally contrasts with weakness in the energy sector, where Canadian oil producers are sliding alongside crude, now trading near $89 a barrel after a roughly 9.2% drop. Air Canada is among the standout performers, rebounding as easing fuel‑price concerns help support expectations for healthier margins. (adriano.marchese@wsj.com)
1316 GMT - Rabobank raised its oil price forecasts, saying it now expects Brent crude to average $107 a barrel in the second quarter. "We expect a full closure of the Strait [of Hormuz] to last until the end of April," analysts at the firm say. "Shipping will only slowly return after that and we expect crude oil and refined product flows to resume to around 80% of pre-war levels by August." The international oil benchmark was previously seen at $96 a barrel in the second quarter. Brent is estimated to fall to $96 a barrel in the third quarter and to $90 a barrel in the fourth, according to Rabobank. (giulia.petroni@wsj.com)
1149 GMT - Shares in European airlines rise following President Trump's latest comments regarding the war in the Middle East. Trump posted on Truth Social that the U.S. and Iran have had "very good and productive conversations regarding a complete and total resolution" of hostilities in the region. Trump has instructed to postpone military strikes against Iranian power plants and energy infrastructure for five days, pending the success of discussions. Wizz Air gains the most, up 4.6%, followed by International Consolidated Airlines Group--which houses Iberia and British Airways--at 4.3%. TUI and Jet2 both climb 3.1%, Air France-KLM rises 2.7%, Ryanair advances 2.3%, easyJet is up 1.9% and Deutsche Lufthansa increases 1.8%. (cristina.gallardo@wsj.com)
1102 GMT - A merger between Tesla and SpaceX could see Tesla shares tumble between 20% and 25%, Future Fund's Gary Black said in a post on X. The Elon Musk-led companies are rumored to be considering a merger. If the carmaker buys SpaceX and issues new equity, its investors will see their shares diluted as the new joint entity would trade at a lower price-to-earnings multiple than Tesla does now, Black says. "Stocks trading separately on their own multiples and growth prospects almost always trade at higher multiples vs two companies merged together." Tesla shares fall 2.8% premarket. (josephmichael.stonor@wsj.com)
0945 GMT - XPeng's business plan is well-positioned for the auto market this year, supported by its relatively strong product pipeline and dual powertrain strategy, Nomura analysts write in a note. At the same time, the company is actively exploring opportunities in physical AI to boost long-term growth, they note. Given the current market dynamics and XPeng's product pipeline, Nomura lowers its shipment forecast for 2026 to 2027. The company plans to further increase its R&D investment in physical AI, which might impact near-term profitability, but support its long-term growth outlook, Nomura says. The brokerage maintains a buy rating for the stock but lowers its target price to HK$94 from HK$113. Shares last at HK$71.60.(jiahui.huang@wsj.com; @ivy_jiahuihuang)
(END) Dow Jones Newswires
March 24, 2026 04:20 ET (08:20 GMT)
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