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

I'm Jessica Edinger, 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 percent led lower by shares of NVIDIA which tanked 4 percent.

The S&P 500 index was down 114 points that was almost 2 percent. The Nasdaq down 521 points

more than 2 percent.

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, Balero, and Marathon Petroleum. Here's Fun Stratz, Tom Lee

on CNBC.

Investors are very confused because we hear so many conflicting reports about progress

the war and really the state of the Iranian regime, but 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 Yardani researchers Ed Yardani on CNBC.

It's getting stress tested again once more, so the oil price is going up. I think the economy

is going to, whether it's 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. Triple A says the national average for a gallon of regular is sitting at 398.

U.S. crude oil went up 4% Thursday above $94 a barrel, 12 states in Washington, D.C.,

average $4 a gallon gas. Maryland is super close at 200% 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 enriches.

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 sea-borne 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 rate 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 US

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 Suite 16 round. New in theaters, Warner Brothers,

horror film, they will kill you. Jessica Edinger CNBC.

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