Nasdaq edges green at close, S&P 500 slips, Dow falls ~0.6%
Staples weakest S&P 500 sector; Energy leads gainers
Dollar, bitcoin rise; US crude up >5%; gold dips
US 10-Year Treasury yield jumps to ~4.23%
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US STOCKS END MIXED AS IRAN TENSIONS OUTWEIGH TAME INFLATION
Wall Street's main indexes ended mixed on Wednesday as markets largely looked past a benign February consumer price inflation report, focusing instead on intensifying hostilities and mounting repercussions related to the U.S.-Israeli war on Iran.
Iran continued to attack ships in the blockaded Strait of Hormuz, but OPEC assured markets that Saudi Arabia had ramped up production and the International Energy Agency $(IEA)$ agreed to release 400 million barrels of oil from its strategic reserves.
Eight of the 11 S&P 500 .SPX sectors ended down with Consumer Staples .SPLRCS and Real Estate .SPLRCR both falling more than 1%. Just Energy .SPNY, Tech .SPLRCT and Communication Services .SPLRCL gained.
Energy advanced more than 2% with NYMEX crude futures CLc1 rising more than 5%. The sector is now down just 0.27% from its March 2 record close.
Tech posted a gain, underpinned by strength in chip stocks. The PHLX Semiconductor Index .SOX rose 0.6%. Software & Services .SPLRCIS ticked into the green at the close.
The Magnificent Seven group of stocks MAGS.K rose for a third day in a row.
Gold/silver miners .XAU and regional banks .KRX were among the weaker groups.
With this, S&P 500 Growth .IGX is on track for its biggest weekly rise vs. S&P 500 Value .IVX since late June of last year.
Here is a snapshot of where markets stood shortly after 4 p.m. ET.
(Terence Gabriel)
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EARLIER ON LIVE MARKETS:
OIL PRICE SHOCKS AND US CONSUMER SPENDING CLICK HERE
GROWING PESSIMISM TOWARD STOCKS COULD SIGNAL A BOTTOM, NDR ANALYST SAYS CLICK HERE
NICE CPI REPORT, IT'D BE A SHAME IF A WAR HAPPENED TO IT CLICK HERE
WALL STREET INDEXES MIXED AFTER IN-LINE CPI WHILE OIL CLIMBS AGAIN CLICK HERE
MIDDLE EAST'S TRADE MIGHT RUNS FAR BEYOND OIL, BARCLAYS SAYS CLICK HERE
US STOCK FUTURES EDGE DOWN WITH IN-LINE CPI CLICK HERE
ITRAXX MORE VOLATILE THAN BOND CASH INDEXES CLICK HERE
ENERGY PRICE SHOCK HISTORY REPEATING ITSELF? CLICK HERE
AJ BELL'S DIY INVESTORS BOUGHT THE DIP CLICK HERE
CAN MARKETS GET COMFORTABLE WITH THE WAR? CLICK HERE
EARNINGS BRIEFLY IMPORTANT FOR EUROPEAN MARKETS; INDITEX, RHEINMETALL IN FOCUS CLICK HERE
BEFORE THE BELL: FUTURES SOFTER, KEEP WATCHING OIL CLICK HERE
MORNING BID EUROPE: IT AIN'T OVER YET CLICK HERE
Close03112026 https://fingfx.thomsonreuters.com/gfx/buzz/lbpgyorlmpq/Close03112026.png
(Terence Gabriel is a Reuters market analyst. The views expressed are his own)