Major U.S. equities including Apple (AAPL) report quarterly results amid rising volatility, as crude oil prices (CL=F) fluctuate and the CBOE Volatility Index (^VIX) spikes to 18.7, signaling market unease. Investors await guidance on AI investments and defense spending trends.
- Apple (AAPL) reported $98.2B in revenue, up 3.8% YoY, with services revenue rising 14% to $21.5B
- CL=F crude oil closed at $78.30 per barrel amid Middle East supply concerns and weak U.S. demand
- The ^VIX rose to 18.7, a 22% jump from the prior session, indicating elevated market volatility
- Lockheed Martin (LMT) saw revenue grow 6.4% to $17.8B, but operating profit dipped 2.1% due to inflation and supply issues
- The S&P 500 rose 0.4% as tech outperformed, while energy and defense showed mixed performance
- Apple announced a $60B share buyback program, supporting investor sentiment
Markets entered a critical phase of the Q4 earnings cycle as Apple (AAPL) delivered its latest financial results on March 2, 2026, reporting revenue of $98.2 billion—up 3.8% year-over-year—driven by strong iPhone sales and services growth. Despite a 7.2% decline in iPhone unit shipments, the company’s services segment surged 14% to $21.5 billion, reinforcing its shift toward recurring revenue. Apple also announced a $60 billion share buyback program, fueling investor optimism. Energy markets responded to mixed signals, with West Texas Intermediate crude (CL=F) closing at $78.30 per barrel amid supply concerns in the Middle East and weaker-than-expected U.S. demand data. The price swing coincided with a 22% increase in the CBOE Volatility Index (^VIX), which reached 18.7—the highest level since November 2025—reflecting heightened market sensitivity to macroeconomic uncertainty and geopolitical tensions. In the defense sector, Lockheed Martin (LMT) reported a 6.4% increase in quarterly revenue to $17.8 billion, supported by Pentagon contracts and sustained spending on next-generation missile systems. However, margin pressure from inflation and supply chain delays trimmed operating profit by 2.1%, prompting analysts to revise 2026 earnings forecasts downward by an average of 3.6%. The broader S&P 500 (^GSPC) edged up 0.4% as investors parsed forward guidance, with technology stocks leading gains while energy and defense saw divergent movements. Market participants remain cautious ahead of upcoming Fed commentary and inflation data.