9-3-2026: Oil Surges on Iran Tensions, Yields Swing + Tech Holds Up
Market Storylines
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7m 48s
Eric Criscuolo, Market Strategist at the NYSE, reviews a volatile week that opened with renewed US-Iran hostilities and a sharp rally in crude oil, pushing yields higher and pressuring equities early on. Sentiment shifted mid-week as oil kept climbing but yields reversed on dovish Fed commentary and a soft ADP report, cutting September rate-hike odds from over 60% to a coinflip. Mega cap tech shook off early weakness to drive a broad market recovery, with Snowflake joining Salesforce as the latest software name to surge on earnings. The S&P 500 tested and held the lower bound of its 7,600-7,800 range before climbing back into the upper half, while energy led sector performance on oil's roughly 10% weekly gain.
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