CNBC Business News Update - Market Close: Stocks Higher, President Trump Tells CBS That Iran War Could Be Over Soon, Oil Falls 3/9/26

Episode Date: March 9, 2026

From Wall Street to Main Street, the latest on the markets and what it means for your money. Updated regularly on weekdays, featuring CNBC expert analysis and sound from top business newsmakers. Anchored and reported by CNBC's Jessica Ettinger. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

I'm Jessica Ettinger. CNBC. It was a wild Monday on Wall Street. Lots of volatility. President Trump commenting the war with Iran could be over soon. Oil prices came down and stocks popped. The Dow up 239 points at the close, a half percent. Shares of Caterpillar led the Dow higher. They were up three and a half percent. The S&P 500 index up 55 points. That was 8 tenths of a percent. And the NASDAQ added 3.9%. eight points, 1.3% on Monday. Shares of Invidia were up 2.7%. If we're close to having it over, I think investors in the market look back to where we were before those strikes started, but there's still a lot of questions as to how this plays out, so it is still high risk. That's Crossmarked Globils, Victoria Fernandez on CNBC. CNBC's Aiman Jabbers in Washington on comments from President Trump, including that he's thinking about taking over the straight of Hormuz that may have helped turn the markets positive on Monday.

That comment that the war could be over soon, the war is very complete, pretty much, says the president of the United States to CBS. I think that is a clear rhetorical shift for Trump. What he has said over the weekend was this will go on as long as it takes to complete the mission. Now a very different signal here from the president. U.S. crude oil did pull back from the $100 a barrel mark Monday, closing below $95 a barrel. and it fell even lower after hours after the president's comments were reported. Prices at the pump Monday up 50 cents a gallon on average since the first attack on Iran. AAA says the national average for a gallon of regular hit $3.48.

Investors have been looking for stocks benefiting from the market volatility, and Cowans Oliver Chen tells CNBC two retailers are winning. Yeah, we're excited about Walmart and Costco as consumers trade down and look for value. The number one principle of Walmart is everyday low prices. And Walmart also has a great technology story. So at Walmart, you're really getting both. Costco we like as well. And both of these retailers have low gas prices too. If you were planning to travel by air this summer, you might want to get going, buying your plane tickets and get ahead of any price increases. Jet fuel prices have spiked and the airlines are going to have to make up for that somewhere. Airfares will

likely go up. From the consumer perspective, for sure, for sure, we will expect to see higher airfares, airfares nudging up to cover this increase in fuel prices. The question is, how long will it be? So far, I think it's a little premature to raise super big alarm bills. The airlines will work through this. The consumer is going to have to pay some cost and ticket prices. Air lease CEO John Pluger on CNBC. His company leases planes to Delta Airlines and many others with about 500 in service around the world. Long security lines at some airports. TSA workers are facing their first paycheck with nothing in it.

Many just not showing up to work as the Department of Homeland Security remains unfunded and effectively closed. On Tuesday's watch list, earnings are coming from Coles. We get the latest existing home sales numbers. And McDonald's and Crocs released the Happy Meal Collaboration. Jessica Eddinger, CNBC. CNBC is the network for ambitious people.

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