CNBC Business News Update Market Midday: Stocks Higher, Warren Buffett On Iran War, Consumer Confidence Ticks Higher 3/31/26
Mar 31, 2026
Warren Buffett, legendary investor and Berkshire Hathaway CEO, speaks at length about geopolitical risk and nuclear concerns tied to Iran. Markets jump on ceasefire headlines and oil hits new highs, with talk on gasoline costs biting consumers. Corporate moves discussed include Hershey’s patient pricing and Mercedes’ push for U.S. volume growth.
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Markets Rally On Iran De‑Escalation Headline
- Stocks jumped sharply midday after an unconfirmed headline that Iran's president is open to ending the war if guarantees are met.
- The Dow gained ~891 points, S&P +150 points (2.3%), and Nasdaq +671 points (3%), showing markets react strongly to peace signals.
Buffett On Longterm Risk Of Enriched Uranium
- Warren Buffett discussed Iran and the long arc of nuclear materials, saying something will eventually cause enriched uranium to be used.
- He framed the risk on a timescale of decades to centuries, implying long‑term geopolitical uncertainty.
Oil Surge Driving Gasoline Prices Above Four Dollars
- Oil prices set new records, with Brent on track for its largest monthly surge and U.S. crude above $100 a barrel.
- Higher oil pushed U.S. pump prices to about $4.02 per gallon, up roughly $1 from a month ago.