Happy first day of March Madness! But even for those feeling good about their team picks, the odds of a perfect NCAA bracket are still about 1 in 120 billion. For March Madness bracket picks and odds to help prepare you for the tournaments, subscribe to Scoreboard, our sports newsletter.

The S&P 500, Nasdaq 100, and Russell 2000 all gained around 1% yesterday amid a retreat in the price of oil as traders saw some optimistic signs that tankers will be able to pass through the Strait of Hormuz.