CNBC Business News Update - Market Midday: Stocks Higher, US Crude Oil Above $101 Per Barrel, Aluminum Soars 3/30/26

Episode Date: March 30, 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. CNDC. Wall Street's in the green today. Investors are hopeful after President Trump said that serious talks are happening to end the conflict in Iran. The Dow is up 415 points this afternoon, almost 1%. Salesforce shares are leading the Dow higher. They're up 3%. The S&P 500 index up 32 points. The NASDAQ is up 70 points.

Shears of Nvidia have been volatile today. now up almost one-tenth of one percent. Markets are very uncertain right now. You kind of have this two-track communication process whereby the president sounds relatively optimistic. The rhetoric out of Iran sounds much more skeptical. And then, you know, you have enormous energy shortages. So I think investors right now are just very uncertain. That's vital knowledge founder Adam Krissifouli on CNBC. U.S. crude oil holding it just under $102 a barrel as of about 1215 p.m. Eastern time. This needs to be resolved. But what?

What if it isn't? What if this is two months, three months down the line? The longer it goes with crude oil above $100, the greater the chance of a global recession, but less likely in the U.S. And that's important. For one thing, we're less energy dependent. We produce a lot. For another thing, we've got artificial intelligence, Cappex build out. If you don't get a U.S. recession, which is kind of hard to do, I think we'll get through this, kind of muddle through this, but it's not going to be pleasant for the markets. Serity partners Jim Labenthal on CNBC. Gas prices are up by another penny over the weekend. AAA says the national average for a gallon of regular, sitting at $3.99, up more than a dollar a gallon since the start of the war.

And prices could keep rising. We think transits through the street will remain disrupted all the way through April. Probably our best case scenario right now. That could continue. And of course, who he's joining. It just kind of continues to act to the risks. Energy aspects. Emrita Sen on CNBC. And another commodity has reached some new highs, aluminum. Cors, which sells beer in aluminum cans, is already talking about this. Aluminum prices are rising after Iran targeted the two largest single-site smelters in the Middle East. Emirates Global Aluminum saying that its site in Abu Dhabi sustained, quote, significant damage with aluminum Bahrain also hit. Together, the facilities produce about 4% of global supply. According to J.P. Morgan, last year, about 21% of U.S. primary aluminum imports came from the region.

That's according to S&P Global. CNBC's Pippa Stevens. Nearly one in three car buyers are underwater on their trade-ins when they buy a new car. And that unwelcome, unpaid part of the old loan then gets rolled into the next car loan. The average amount still owed on trade-ins reached more than $7,000 in the last quarter. As Edmund says, that's an all-time high. among new car purchases involving negative equity, 40% are now financed with 84-month loans. Those are seven-year loans.

The average monthly payment for buyers who rolled negative equity into a new car loan hit $916 a month. Jessica Eddinger, CNBC. Play better. Period. Pro golfers. Trying to swing within myself. And real coaches. Rip the club into your back swing. Share expert instruction. All the best play to do that.

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