Squawk on the Street SOTS 2nd Hour: U.S.-Iran Impact - From Stocks to Geopolitics to Energy 3/2/26
Mar 2, 2026
Michael Oren, former Israeli ambassador and historian, offers on-the-ground Israeli perspective. Mark Esper, former U.S. defense secretary, explains military strategy and defense readiness. Mike Santoli, markets commentator, analyzes equity rotation and investor positioning. Rick Santelli provides ISM PMI and market-macro commentary. They discuss market moves, oil and energy impacts, military implications, and geopolitical ripple effects.
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Oil Spike Is The Key Economic Transmission
- Energy shock is the primary channel by which the U.S.-Israel strikes on Iran hit markets and consumers.
- Sara Eisen cited Brent crude surging and Wolf Research modeling a $20 oil rise raising headline CPI ~0.4% and shaving GDP by ~7 basis points.
Dollar And Israeli Stocks Act As Safe Havens
- The U.S. dollar and Israeli equities can act as safe havens during Middle East conflict while global markets sell off.
- Sara Eisen noted dollar strength, Israel's stock surge led by defense names, plus gains in gold and shippers amid supply concerns.
Drones Will Extend The Campaign Longer Than Missiles
- Iran's missile inventory and drone capability shape the conflict's duration and tactics.
- Ian Bremmer estimated under ~1,000 medium/long-range missiles left but thousands of drones remain, meaning sustained drone attacks are likelier longer-term.