CNBC Business News Update Market Open: Stocks Higher, Oil Higher, Delta Airlines Is Raising Airfares 3/17/26
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Mar 17, 2026 
Kevin Hassett, White House economic adviser, offers a brisk take on U.S. economic resilience. Seth Carpenter, Morgan Stanley chief U.S. economist, breaks down how $100 oil pressures inflation and growth. Ed Bastian, Delta Air Lines CEO, explains rising jet fuel costs, strong travel demand, and why fares are increasing.
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Markets Rally Despite Oil Spike
- Stocks rallied strongly despite higher oil, with the Dow up 447 points and Nvidia modestly higher.
- Investors shrugged off crude rising ~3% after Iran's attack, signaling risk-on sentiment at the open.
$100 Oil Is Painful But Not Catastrophic
- Crude jumped about 3% after Iran attacked a UAE gas field, pushing oil toward $100 per barrel.
- Morgan Stanley's Seth Carpenter warned $100 oil is painful for consumers but livable because the U.S. is less oil dependent and now a net energy exporter.
Budget for Higher Gas Costs
- Expect gasoline costs to rise; AAA reported an eight cent overnight increase, with the national average at $3.79 per gallon.
- That equates to roughly $14 more to fill an 18-gallon SUV since U.S. attacks on Iran began.