Squawk on the Street Market Sell-Off: Oil Spikes, Jobs Go Negative, NEC Director Hassett, Robinhood CEO 3/6/26
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Mar 6, 2026 
Vlad Tenev, Robinhood CEO, on a new platinum credit card and a fund giving retail access to late-stage private deals. Kevin Hassett, White House NEC director, on the surprise jobs drop, productivity trends, and energy policy amid oil spikes. They discuss market moves, AI’s hiring effects, geopolitics and policy responses in short, punchy conversations.
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Oil Spike Is Rapid And Consumer Facing
- Oil surged toward $88 per barrel and retail gasoline reached $3.32, the largest four-day jump since Katrina.
- Carl Quintanilla notes oil is up ~50% year-to-date, amplifying consumer cost risks.
Buy Retailers That Profit From Higher Fuel Prices
- Consider consumer-facing hedges to rising fuel costs like investing in retailers that benefit from fuel sales.
- Jim Cramer highlights Costco as a beneficiary when gasoline spikes due to their gas stations driving traffic.
Energy Shock Can Feed Into Food Prices
- Fertilizer and crop input prices are sensitive to Middle East shipping risks, with ammonia and polyethylene exposure noted.
- Peter Bakvar referenced planting season timing that could transmit energy shock into food prices.