CNBC Business News Update - Market Close: Stocks Mixed In A Whipsaw Session, Oil Jumped on Headlines, Oracle Out With Strong Results 3/10/26

Episode Date: March 10, 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 Eddinger. CNBC, Wall Street opens Wednesday morning after a whipsaw day for stocks, with the market reacting to headlines concerning oil moving or not moving in the Middle East. The Dow finished the day down 34 points, led lower by Boeing shares, which were down 3%. The S&P 500 index down 14, but the NASDAQ was up exactly one point. Oil and stocks were up and down Tuesday on headlines. The Energy Secretary said the Navy had successfully escorted a vessel through the Strait of Hormuz, but then his post was taken down. It was reportedly not true. U.S. crude oil was hovering around $86 a barrel on Tuesday afternoon, still very high. For as dramatic as the decline has been

in crude, what are we up? Like still 35% from where we were at the end of February, which is usually what qualifies as an oil spike. CNBC's Mike Santoli, an oil spike that has, produced a more than 50 cent per gallon increase in regular gas for American drivers in just eight days. That's about an extra $10 or $11 for each fill up for the average SUV with an 18 to 20 gallon fuel tank. Gas at the pump has gone from, you know, 270 up to 350. If we stay up at 350, you're going to see some economic impact that I think people are going to respond. 22V research is Jordi Visser on CNBC. That response could be less spending on other things for American families that have to keep their car filled up. Oracle shares were up 6% and after hours

trading. On strong quarterly results Tuesday, Oracle has a deal with Open AI that investors are watching. It's also now a part owner of TikTok. Existing home sales rose in February from January, but sales were down from the same exact month last year. It's a sluggish lead-in to the spring home buying season. Tight supply is still pressuring prices. The median price of a home sold in February, 300,000. $198,000 an increase of 0.3% year over year. It continues to take longer to sell a home. 47 days up from 42 a year ago. 34% of buyers were first timers, an increase from 31% a year ago, and 16% of sales were to investors unchanged from a year ago. CNBC's Diana Oleg. Airline passengers are enduring longer and longer waits to get through security at some airports around the country,

as TSA workers are unpaid. The Department of Homeland Security unfunded. So a lot of people aren't showing up to work. I don't think security is going to be sacrificed. Unfortunately, what will be sacrificed will be traveler convenience. So the lines that maybe took 10 minutes, 15 minutes, will now take an hour, an hour and a half, because TSA can't compromise the security there at that checkpoint.

As the shutdown continues to drag on, unfortunately, you're likely going to see continued lines particularly as we get into the heart of spring break here in March. Former acting Homeland Security Secretary in the first Trump administration, that's Chad Wolf on CNBC. McDonald's debuts its new Crocs Happy Meals Today in a collaboration with the plastic shoemaker. On Wednesday's watch list, we get the latest on inflation. The CPI Consumer Price Index will be out. We also get earnings from Campbell's and Petco.

Jessica Eddinger, CNBC. You come to my show. When you learn out to stocks. Mad Money, Weeknight, Six Eastern, CNBC.