Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Monday, March 2nd, and I'm your host, Kim Khan. Our top story so far,

travel and leisure stocks are being hit hard as investors weighed the impact of the U.S.-Israel-Iran conflict and higher oil prices.

Carnival, Royal Caribbean Cruises, and Norwegian Cruise Line holdings are all slumping.

In the airline sector, the biggest decliners were Frontier Group, United Airlines, American Airlines, Latam Airlines, and Delta.

Jeffrey said jet fuel prices were a bigger concern with investors across the group

than cancellations of flights to the Middle East. Intercontinental, Hyatt, Wyndham

Hotels, and Hilton are all notably lower. Analysts pointed to concerns over Middle

East bookings for the next few months, even if the conflict resolves quickly. And Six Flags

is under pressure, with its Saudi Arabia theme park at risk of near-term traffic disruption. But the overall market has erased nearly all of its warning losses, helped by the

tech sector. Former J.P. Morgan strategist Marco Kalanovich says,

oil is up, yields are up, gold is up, global stocks are down, U.S. stocks are a bit delusional.

But Society General notes that in the five previous oil shocks in the last

50 years, the S&P tends to be slightly higher a week later, down 2.3% after three months, but back

in the green six months down the line. Among active stocks, out in the MNA advisor penalty box,

J.P. Morgan resumed coverage of Netflix, with an overweight rating and a $120 price target, more than 40% upside from current levels.

Analysts say Netflix remains a healthy organic growth story, driven by strong content, global subscriber growth, continued pricing power, and an ad tier that's still early and under-monetized.

An AES is the SMP 500's biggest decliner after agreeing to be acquired by a

consortium led by BlackRock's global infrastructure partners and EQT infrastructure, along with

co-underwriters, Calpers, and the Qatar Investment Authority. The deal values AES at $15 a share

in cash for a total equity value of about $10.7 billion, but AES had been trading above

17 bucks before the deal was announced. On the economic front, the February ISM manufacturing

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