يَـٰٓأَيُّهَا ٱلَّذِينَ ءَامَنُوا۟ ٱتَّقُوا۟ ٱللَّهَ وَقُولُوا۟ قَوْلًۭا سَدِيدًۭا يُصْلِحْ لَكُمْ أَعْمَـٰلَكُمْ وَيَغْفِرْ لَكُمْ ذُنُوبَكُمْ ۗ وَمَن يُطِعِ ٱللَّهَ وَرَسُولَهُۥ فَقَدْ فَازَ فَوْزًا عَظِيمًا
O you who have believed, fear Allah and speak words of appropriate justice. He will [then] amend for you your deeds and forgive you your sins. And whoever obeys Allah and His Messenger has certainly attained a great attainment. (Qur’an, 33:70-71)
Market Snapshot
▼ S&P 500 -1.50%
▼ SPUS -3.40%
▼ MSCI World Islamic -2.62%
*Market data for last week ending Friday
Last Week’s Review
Crypto skyrockets on strategic reserve news: Bitcoin surged 10% to $94,343 after Trump announced a U.S. strategic crypto reserve.
Apple’s $500 Billion Investment: Apple pledged to invest $500 billion in the U.S. over the next four years, including the creation of 20,000 jobs and a new AI server factory in Texas.
Islamic Finance Growth in the U.S.: Islamic finance continues to grow in the United States, with approximately 43 institutions now offering Shariah-compliant financial products and services.
Stagflation Concerns Rise: Investors expressed fears of stagflation—a combination of high inflation and economic stagnation—affecting market sentiment and leading to stock market declines.
Canada’s New Leadership: Following Justin Trudeau’s resignation, Canada’s Liberal Party is set to choose a new leader, with Mark Carney and Chrystia Freeland as frontrunners.
Measles Outbreak in Texas: Health alerts were issued in San Antonio, New Braunfels, and San Marcos due to a spreading measles outbreak.
Egypt Secures $700 Million Loan for Food Security: Egypt’s General Authority for Supply Commodities (GASC) signed a $700 million loan agreement with the Islamic Trade Finance Corporation (ITFC) to bolster food security, aiming to secure essential commodities like wheat.
This Week’s Outlook
Trump’s Congressional Address (March 4): On March 4, President Trump will address Congress, potentially discussing new tariffs on products from Canada, Mexico, and China.
February Jobs Report (March 7): The U.S. Labor Department will release employment data for February, providing insights into the labor market’s health.
China’s Economic Policies: China’s annual legislative session begins this week, where economic targets and policies will be outlined.
Mobile World Congress: The Mobile World Congress in Barcelona continues this week, showcasing the latest advancements in mobile technology.
Moody’s Global Islamic Finance Outlook 2025: Moody’s is hosting a webinar on March 4 to discuss key insights and future trends in the global Islamic finance sector.
Upcoming Earnings
CrowdStrike (CRWD) will report Tuesday. Analysts estimate $1.03B in revenue (+21.85% YoY) and $0.86 in earnings per share (-9.47% YoY).
Target (TGT) will report Tuesday. Analysts estimate $30.28B in revenue (-5.13% YoY) and $2.65 in earnings per share (-11.07% YoY).
Marvell Technology (MRVL) will report Wednesday. Analysts estimate $1.80B in revenue (+26.14% YoY) and $0.59 in earnings per share (+28.26% YoY).
Veeva Systems (VEEV) will report Wednesday. Analysts estimate $699.27M in revenue (+10.89% YoY) and $1.58 in earnings per share (+14.49% YoY).
Zscaler (ZS) will report Wednesday. Analysts estimate $635.34M in revenue (+21.02% YoY) and $0.69 in earnings per share (-9.21% YoY).
Broadcom (AVGO) will report Thursday. Analysts estimate $14.62B in revenue (+22.23% YoY) and $1.47 in earnings per share (+33.64% YoY).
Costco (COST) will report Thursday. Analysts estimate $62.61B in revenue (+7.13% YoY) and $4.01 in earnings per share (+8.09% YoY).
Chart of the Week
The FTSE 100 Index achieved a record high on March 3, 2025, propelled by a significant rally in defence stocks. Companies like BAE Systems and Rolls-Royce saw substantial gains following European leaders’ commitments to increase military spending in response to ongoing geopolitical tensions.
Your Questions
Can you recommend Shariah-compliant ETFs?
We have a list of Islamic ETFs on our Portfolio Builder section. (Answered by Faraz Omar, AAOIFI Certified Shariah Advisor and Auditor)
You may ask your questions in our Community or email them to support@muslimxchange.com
Responses