CNBC Business News Update Market Open: Stocks Higher, President Trump Tells CNBC He's Pausing Strikes On Iran, Oil Tumbles 3/23/26
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Mar 23, 2026 
Austin Goolsbee, economist and Chicago Fed president, offers concise takes on inflation and monetary policy. Mike Santoli and David Faber, market correspondents, break down stock rallies, NVIDIA-led tech strength, tumbling oil, sector reactions, and the president's pause on strikes with related social posts and international responses.
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Market Rally Driven By Falling Oil
- Stocks rallied as oil prices fell, signaling risk-on sentiment in markets.
- The Dow jumped 631 points with Home Depot up nearly 3% while NVIDIA added about 2.5%, showing breadth from cyclical and tech names.
Rally Needs Proof Not Just Momentum
- Recent market gains retraced some of last Thursday and Friday's losses but require confirmation to be durable.
- Mike Santoli notes the rally reflects a shift away from extreme negativity rather than an outright all-clear on risks.
Trump Says He Paused Strikes To Allow Talks
- President Trump told CNBC he is pausing strikes on Iran for five days while talks continue and expects something tangible by Friday.
- He spoke with Joe Kernen and described talks as "very good and productive" about resolving hostilities.