Closing Bell Closing Bell: Navigating the Dow’s Big Drop 3/5/26
Mar 5, 2026
Pippa Stevens, CNBC energy reporter tracking crude, gasoline and refined products, breaks down sharp oil moves and supply strains. She discusses soaring jet fuel and gasoline prices, Middle East spillover risks to markets, and how crude swings drive sector leadership. Short, punchy takes on transport pain, semiconductors’ market role, and trading approaches during the pullback.
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Rising Jet Fuel Is Crushing Airline Profitability
- Jet fuel jumped sharply, pressuring airlines as jet fuel is the second-largest cost after labor.
- Phil LeBeau reported spot jet fuel up ~40% in the last week and major cancellations out of Middle East hubs.
Buy On Weakness Looking Past Short Term Noise
- Buy on weakness focused on multi-year trends like demographics and earnings rather than short-term headlines.
- Chris Hyzy says he looks past 2026–2028, emphasizing valuation and expected earnings momentum over months of volatility.
Recent Oil Spikes Tend To Be Transient Not 1970s Style
- Historical analogy: recent oil spikes typically fade and equities recover within months, unlike the 1970s embargo era.
- Dan Greenhaus argued the disruption appears finite and military degradation could reopen the Strait of Hormuz.