CNBC Business News Update Market Midday: Stocks Mixed, US Crude Oil Falls Back Below $100 Per Barrel, Live Nation May Settle With DOJ 3/9/26
Mar 9, 2026
Midday market action with indexes swinging and tech stocks leading a turnaround. Crude oil slips back below $100 and traders weigh supply risks tied to Middle East transit. Discussion of a potential settlement that would reshape concert ticketing and platform access. Rising bond yields push mortgage rates higher, affecting homebuyers' costs.
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Crude Oil Drives Market Direction
- Stocks turned mixed midday as crude oil's pullback steered market direction.
- The Dow fell as Cisco dragged it down while NVIDIA and the Nasdaq climbed, showing sector divergence tied to oil moves.
Oil Rally Reverses On Supply And Transit Fears
- U.S. crude fell from above $100 to about $94, trimming earlier double-digit gains to around 6% midday.
- Concerns over Strait of Hormuz transits and Gulf producers running out of storage amplified volatility and price swings.
Watch G7 And Flow Signals For Oil Risk
- Monitor policy responses like the G7 energy ministers' meeting as potential sources of supply relief.
- A delayed restoration of flows could trigger panic in the crude market, so watch official signals closely.