Wall St ends higher as hopes of Iran war resolution offset inflation fears
By Stephen Culp and Johann M Cherian
Mon March 9, 2026
Early in the day, another surge in oil prices combined with Iran’s selection of the slain supreme leader’s son to succeed him brought all three indexes crashing way down, which is where they stayed all day. The Dow was down nearly 900 in the morning, remained that way until 3:15 when it very suddenly spurted way up again. Same with the Nasdaq, down about 330 in the morning, then shot straight up right at about 3:15, the S&P following a very similar pattern, down over 100 in the morning. It must have been right around 3 pm that Trump made the dual announcements that the war plans were way ahead of the previously stated five week schedule and could be over very soon.
Then he mentioned an easing of oil sanctions against Russia, which sent optimism spiraling upwards very suddenly, not only erasing all the day’s big losses but with all three closing with impressive 3-digit gains. Today’s expert pointed out the huge amount of uncertainty that has been roiling the markets and that “relative reversal in price movements indicates that investors are looking for any opportunity to jump back into the equity markets.” Even though uncertainty remains high, the VIX did drop five points below the 30 “panic” threshold today, indicating calmer nerves. Coming later this week is CPI, GDP, and PCE, all data that will be watched closely. Volume again came in well above the 19.99 billion average, closing today at 22.41 billion.
DJ: 47,501.55 -453.19 NAS: 22,387.68
-361.31 S&P: 6,740.02
-90.69 3/6
DJ: 47,740.80 +239.25 NAS: 22,695.95
+308.27 S&P: 6,795.99
+55.97 3/9
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