CNBC Business News Update Market Midday: Stocks Turn Mixed, President Trump Addresses America, Oil Up 5% 3/2/26
Mar 2, 2026
Eamon Javers, Washington-based reporter on energy and policy. Joe Terranova, market commentator on mega-cap stocks. Jim Cramer, investing personality with market anecdotes. They discuss mixed market action and tech-led rallies. They cover a 5% oil surge and its effects on energy shares. They note rising gas prices and a flight into gold amid geopolitical and policy moves.
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MAG 7 Stocks Acting As Market Safe Haven
- Stocks are mixed midday with dip buyers lifting major tech names back into the green.
- Joe Terranova highlights the MAG 7, specifically Apple, NVIDIA, Microsoft, and Alphabet, acting as an equity safe haven today.
Trump Frames Military Action As Resolute Response
- President Trump addressed the nation after an attack on Iran and framed the response as continuing the mission with 'unyielding resolve'.
- He honored four fallen U.S. service members and linked the action to crushing what he called a terrorist regime threat.
Oil Spike Shows Geopolitics Vs Energy Policy
- U.S. crude spiked about 5% above $70 a barrel, prompting oil producers to rally before trimming gains.
- Eamon Javers explains the president weighs short-term higher oil against long-term Iran objectives, invoking a 'drill, baby, drill' economic stance.