Closing Bell Closing Bell 3/3/26
Mar 3, 2026
Alex Kanchowitz, CNBC tech analyst on AI industry moves and government contracts. Jonathan Krinsky, BTIG technical analyst who reads market charts and bottom signals. They dive into AI defense deals and the optics around them. They also unpack technical market signals like VIX curve action, energy-stock divergence, and signs that a lows trade might be forming.
AI Snips
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Transcript
Episode notes
Markets Held Up Despite Geopolitical Shock
- Markets soaked up geopolitical shock better than expected as stocks bounced off worst levels into the close.
- Scott Wapner noted major averages were off their worst intraday levels while oil and yields remained key risk drivers.
Trump's Comment Sparked Trade Confusion With Spain
- President Trump's Oval Office remarks suggested cutting off trade with Spain, creating confusion about whether a formal embargo was intended.
- Eamon Javers reported Treasury and USTR had not clarified the actual status after the president's comments.
Tanker Insurance Calmed Oil But Gas Prices Soared
- Oil briefly spiked near $78 then retreated after the White House said it would insure and escort tankers through the Gulf.
- Pippa Stevens highlighted European natural gas moved far more, with TTF jumping 66% over two sessions as Qatar LNG output was shut in.