CNBC Business News Update - Market Midday: Stocks Mixed, US Crude Oil Falls Back Below $100 Per Barrel, Live Nation May Settle With DOJ 3/9/26

Episode Date: March 9, 2026

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I'm Jessica Eddinger, CNBC. Stocks have turned mixed this afternoon on Wall Street as crude oil has pulled back. The Dow down 246 points this afternoon. It had been down 600. That's an improvement. The Dow is being led lower by shares of Cisco, which are down 2.7%. The S&P 500 index down only seven points now. The NASDAQ has turned green.

It's up 57 points. Shares of NVIDIA are up almost one and a half percent this afternoon. U.S. crude oil pulling back from that more than $100 a barrel mark, recovering to about $94 a barrel in the lunch hour on Wall Street. It's up only 6 percent today. After being up double that earlier. The operator of the roller coaster right now appears to be the price of crude oil. And wherever the crude oil market is going to go takes the overall market.

Vertis investments Joe Taranova on CNBC. While no oil is moving through the Straits of Hormuz in the Middle East, Iran's foreign ministry warned, any oil tankers transiting the strait must be very careful. A number of Gulf nations are pulling back on oil production as supplies back up. They're running out of places to store the oil. Group of seven ministers will meet to talk about releasing oil reserves to help ease prices. This meeting tomorrow with the energy ministers talks among the GSI. are, quote, positive, unquote, in terms of the possibility of coordinated action in releasing

reserve oil into the market. That's CNBC's Aman Javers. Here's a take for 314 research is Warren Pyes on CNBC. If this thing goes two weeks, and there isn't a signal with the administration and globally, governments globally aren't really worried about trying to get that flows back to this group boost, then you're going to see, in my opinion, outright pay. in the crude oil market. After being called an illegal

monopoly, concert giant Live Nation will keep Ticketmaster as one of its businesses in a proposed settlement with the Department of Justice. So they did a settlement. There's some payments that Live Nation estimated. There was really a fear that this would that they'd split this up. And that would be

very bad for Live Nation. Live Nation's a very good company. And I've always felt that they do a good job a Ticket Master, but the reason why tickets are up is nothing to do with Ticket Man. because they can get away with it. CNBC Mad Money host Jim Kramer there. The deal requires Live Nation to pay millions and damages

and to make sweeping changes to its long-criticized control of ticketing, venues, and artist promotion. This is according to Politico. Under the plan, the Ticketmaster subsidiary would be required to let competing ticket companies like Seatkeek and Eventbrite use its platform. Bond yields are up as stocks were lower. That's been pushing mortgage rates higher today. the average rate on a 30-year fixed home loan.

Now closer to 6.2% at 6.17. It had been below 6% just 10 days ago. Jessica Eddinger, CNBC. Get your ticket to CNBC Pro Live. Redefine financial success with strategies from some of CNBC's top wealth advisors. Develop a blueprint for wealth with exclusive access to the pros. Get your ticket now at CNBC Events.com slash wealth for women.