US stocks turned green on Tuesday as investors weighed President Trump’s hint at a swift end to the Iran war, while oil futures tumbled as much as 15%.
The Dow Jones Industrial Average (^DJI) and S&P 500 (^GSPC) rose by roughly 0.7% and 0.6%, respectively, after equivalent losses earlier in the session. The tech-heavy Nasdaq Composite (^IXIC) turned positive by 0.6%.
West Texas Intermediate (CL=F) crude futures plummeted to $80 a barrel. Brent (BZ=F) also fell 11% to trade near $82 per barrel after Energy Secretary Chris Wright said in a post, which was later deleted, that the US Navy successfully escorted a tanker through the Strait of Hormuz. The critical waterway has been at a standstill since the war broke out.
On Monday, Trump said that the US-Israel offensive has effectively cut off Iran’s naval and air capabilities, and that it was "very far" ahead of an expected four-to-five week timeline.
At the same time, though, Israel’s leader Benjamin Netanyahu said the offensive was "not done yet" before starting a new wave of strikes on Tehran on Tuesday.
Looking ahead, two key inflation readings are due this week. February’s update on the Consumer Price Index is due Wednesday, followed by January’s Personal Consumption Expenditures index on Friday. Neither report will account for the recent spike in oil prices, which has shifted the interest rate calculus for the Federal Reserve.
In upcoming earnings, Oracle (ORCL) is scheduled to report after the market close on Tuesday, while Adobe (ADBE) is on Thursday’s docket.
Daily Market Coverage Mar. 10, 2026 3PM-5PM (ET) | Yahoo Finance
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