CNBC Business News Update - Market Close: Stocks Lower, Oil Higher, Mortgage Rates Highest Since Mid-August Of Last Year 3/26/26

Episode Date: March 26, 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. Wall Street opens Friday morning after a sell-off Thursday for stocks. President Trump said in a cabinet meeting, Iran is begging to make a deal. Investors aren't so sure the war will be over anytime soon. The Dow down 469 points, a full 1% led lower by shares of invidia, which tanked 4%. The S&P 500 index was down 114 points. That was almost 2%. The NASDAQ down 521 points, more than 2%. Many have said the market didn't, including the president, the market's not down as much as maybe you might have thought. The NASDAQ 100 is basically back to where it was July 31st of last year.

So you have really gone down in price and back in time. At CNBC's Mike Santoli, companies who shares hit fresh all-time highs on Thursday include the energy names, Philip 66, Ballaro and Marathon Petroleum. Here's Fundstrats, Tom Lee on CNBC. Investors are very confused because we hear so many conflicting reports about, you know, progress of the war and really the state of the Iranian regime. But, you know, hopefully we're through the worst of it. It's hard to tell.

And here's a view on the economy and the markets from Yardinni researchers, Ed Yardinni, on CNBC. It's getting stress tested again once more with oil prices going up. I think the economy is going to weather the storm. I don't think we're going to go into recession, though I think the risks of that are increasing, but I think the economy will make it through. For the first time since the U.S. attack on Iran, prices at the pump didn't go up on average Thursday. AAA says the national average for a gallon of regular is sitting at $398. U.S. crude oil went up 4 percent Thursday above $94 a barrel.

Twelve states in Washington, D.C., average $4 a gallon gas. Maryland is super close at two one hundredths of a cent under. One investor tells CNBC there is an American plan, but oil prices will go up until it's fulfilled. We're going to leave with that uranium. We know where it is because it's highly enriched. It's not going to be that difficult for us to find. Just from, you can measure it from a radiation.

That's one of the objectives, you know. There was no easy button on the oil side. You know, it takes 25 to 28 days for seaborne oil to make its way to Asia from the straight. That's about now. I think you're going to see Brent at 150. Rochefort Ventures CEO Kyle Bass with CNBC's Becky Quick. Americans thinking about heading out to look at homes to buy this weekend are now facing the highest mortgage rates since the middle of August of last year. Mortgage News Daily says the national average for a 30-year fixed home loan just hit 6.6%. Major League Baseball, it's back, but it's not as profitable as you.

might think. At the end of this year, the collective bargaining agreement expires. The owners want a salary cap. Major League Baseball is the only one of the four major U.S. sports not to have a salary cap, but it has spoken to the strength of the Players Association. They've been able to successfully push back against this concept. If you take a look at the earnings margins of baseball teams versus the other three sports, they're a lot lower. Yes, valuations of teams are rising. Yes, TV ratings are up. Yes, attendance is up. But because the spending is so high on baseball relative, the profit margin is not up. CNBC's Alex Sherman. On Friday's watch list, we get the latest on consumer sentiment. It'll be day two of the NCAA March Madness Sweet 16 round. New in theaters,

Warner Brothers horror film, They Will Kill You. Jessica Eddinger, CNBC. The all-new morning call. I'm Morgan Brennan, and this is your. Your morning call. 5 a.m. Eastern, CNBC.