CNBC Business News Update Market Open: Stocks Higher, But Indexes Lower For The Year, US Crude Oil Price Falls 3/13/26
Mar 13, 2026
Early market swings and index performance are unpacked with focus on what moves stocks and returns. U.S. crude oil drops after a Russian oil waiver and gas price shifts hitting consumers are explored. Inflation data highlights a hotter-than-expected core PCE metric and its implications for policy. Geopolitical tensions in the Middle East and a GDP revision raise concerns about growth.
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Indexes Bouncing But Down For The Year
- Major U.S. indexes opened higher intraday yet have erased gains and are lower for the year.
- Jessica Ettinger notes the Dow, S&P 500, and NASDAQ bounced but "the indexes...have all erased this year's gains."
Russian Waiver Helps Push Oil Lower
- U.S. crude oil prices fell after a waiver allowing Russian oil sales, trading around $92 a barrel.
- Jessica Ettinger links the waiver to oil easing and reports U.S. crude down to about $92 a barrel this morning.
Gas Prices Jump After Middle East Shock
- Pump prices rose sharply after geopolitical shocks, with national average gasoline at $3.63 per gallon.
- Jessica Ettinger reports gas up ~65 cents since the first U.S. attack on Iran and a four-week rise from below $3.