04:47 PM EDT, 03/20/2026 — US equity indexes fell this week as oil prices continued to climb amid attacks on key refineries in the Middle East, while the US government weighs deploying troops on the ground.
* The S&P 500 closed at 6,506.4 on Friday versus 6,632.19 a week ago, the Nasdaq Composite dropped to 21,647.61 from 22,105.36, and the Dow Jones Industrial Average declined to 45,577.47 from 46,558.47.
*The US government is considering plans to occupy Kharg Island, which is vital to Iran’s oil exports, to pressure Tehran to allow tankers to pass through the Strait of Hormuz, Axios reported Friday, citing people with knowledge of the matter.
* US commercial crude oil inventories for the week ended March 13 rose by 6.2 million barrels, compared with 3.8 million increase a week earlier. Crude oil inventories, including the Strategic Petroleum Reserve, stood at 864.7 million barrels, up 3.8% from a year earlier.
* Initial jobless claims last week were 205,000, down from 213,000 a week earlier and below the 215,000 estimated by analysts polled by Bloomberg. The Federal Reserve Bank of Atlanta now expects Q1 real GDP growth of 2.3%, down from a 2.7% forecast on March 13.
*The producer price index for final demand increased 0.7% in February, higher than the 0.5% increase in January, and above the 0.3% gain expected by analysts polled by Bloomberg. Core PPI, which excludes food and energy prices, increased 0.5% in February, slower than the 0.8% in January, but faster than the 0.3% expected in a Bloomberg survey.
*Industrial production rose 0.2% in February, compared with 0.7% in January and higher than 0.1% forecast by analysts surveyed by Bloomberg. Manufacturing output rose 0.2% in February from 0.8% in January and above the 0.1% expected in a Bloomberg survey.
*US new-home sales fell to a 587,000 annual rate in January from a 712,000 rate in December, and lower than the 722,000 expected by analysts surveyed by Bloomberg. The supply of homes available for sale rose by 0.4% to 476,000, but the median sales price fell to $400,500 from $419,200 in December.
US equity indexes dropped on Friday close amid reports that the US may deploy troops to pressure Iran to unblock the Strait of Hormuz, and as expectations of an interest-rate increase lifted government bond yields.
The Nasdaq Composite dropped 2% to 21,647.61, with the S&P 500 down 1.5% to 6,506.48 and the Dow Jones Industrial Average lower by 1% to 45,577.47. Most US sectors were in the red, led by utilities, real estate, and technology.
The US government is considering plans to occupy Kharg Island, which is vital to Iran’s oil exports, in anticipation that the move would pressure Tehran to allow oil tankers to pass through the Strait of Hormuz, Axios reported Friday, citing people with knowledge of the matter.
“We’ve always had boots on the ground in conflicts under every president, including Trump. I know this is a fixation in the media, and I get the politics, but the president is going to do what’s right,” a White House official said, according to Axios.
Meanwhile, the US military is deploying thousands of Marines to the Middle East, officials told Reuters on Friday. President Donald Trump called NATO allies “cowards” for not helping the US secure the Strait of Hormuz, which remains effectively shut as global oil prices rise, CNN reported. US officials are trying to avert a potential months-long closure of the strait, multiple sources told CNN.
This comes as British ministers on Friday agreed to expand the US use of British bases to include “US defensive operations to degrade the missile sites and capabilities being used to attack ships in the Strait of Hormuz,” CNN reported. Previously, the UK had only allowed American forces to use British bases for operations to prevent Iran from firing missiles that directly put UK lives or interests at risk.
West Texas Intermediate crude oil futures jumped 2.8% to $98.81.
Iranian officials have become reluctant even to discuss reopening the Strait of Hormuz as they focus on surviving the US-Israeli onslaught, Bloomberg reported, citing a person involved in direct, high-level contacts with Tehran.
Energy infrastructure attacks and strikes on high-profile Iranian officials, including the recent killing of security chief Ali Larijani, mark an escalation that is slowing attempts to get commercial ships moving again, the person told Bloomberg, speaking anonymously to discuss private talks.
In economic news, the Federal Reserve Bank of St. Louis is now forecasting Q1 US GDP growth of 1.69%, down from an earlier estimate of a 2.05% gain.
According to the CME FedWatch tool, the probability that the Federal Reserve will raise interest rates by 25 basis points to 3.75%-4% more than doubled by late Friday, albeit from a low base, at some point during this year. The likelihood of an increase in the fed funds rate in September, October, or December is currently above 25%, more than tripling from a day ago.
US Treasury yields jumped, with the 10-year up 9.7 basis points to 4.38% and the two-year higher by 5.9 basis points to 3.89%.
In company news, Super Micro Computer (SMCI) said late Thursday it placed two of its employees on administrative leave and terminated a contractor after US prosecutors indicted all three for allegedly conspiring to violate export controls. Super Micro shares sank 33%, the worst performer on the S&P 500.
04:27 PM EDT, 03/17/2026– US equity indexes rose on Tuesday after rising oil prices supported the outlook for US shale producers, and the European Union decided to restart ratification proceedings for its trade deal with the US.
The Nasdaq Composite rose 0.4% to 22,479.5, with the S&P 500 up 0.2% to 6,716.1. The Dow Jones Industrial Average gained 0.1% to 46,993.8. All US sectors were in the green except health, consumer staples, and utilities. Energy led the gainers.
US producers are poised to earn an additional $63.4 billion in cash flow if West Texas Intermediate crude averages $100 per barrel for 2026, Financial Times reported, citing data from Rystad Energy.
“The United States is the largest Oil Producer in the World, by far, so when oil prices go up, we make a lot of money,” President Trump said in a March 12 social media post.
The EU decided to restart ratification for its delayed trade deal with the US despite the US opening new investigations into the bloc’s trade practices. However, lawmakers decided to proceed as long as the US honors the terms of a trade deal struck in July 2025, which includes eliminating tariffs on US industrial products in return for a 15% tariff limit on most EU exports, according to Bloomberg.
Most US Treasury yields fell, with the 10-year yield down 1.8 basis points to 4.202%. The two-year yield slipped 0.6 basis points to 3.674%.
West Texas Intermediate crude oil futures rose 2.7% to $96.08.
In economic news, US Pending home sales rose by 1.8% in February, rebounding from a revised 0.9% decline in January, and more than the 0.6% decrease expected in a survey compiled by Bloomberg. The monthly sales index fell 0.8% from February 2025, according to the National Association of Realtors.
“The slight gain in pending contracts appears to be driven by improved affordability conditions,” NAR Chief Economist Lawrence Yun said. “However, those conditions could reverse if higher oil prices lead to an uptick in mortgage rates.”
For the four weeks ended Feb. 28, US private employers added an average of 9,000 jobs per week, down from 14,750 for the week ended Feb. 21, according to data from ADP employment change data.
Business activity continued to decline in the New York-Northern New Jersey region in March, according to the Federal Reserve Bank of New York’s Business Leaders survey. The business activity index was little changed at -22.6, while the business climate index declined to -46.2, signaling a business climate much worse than normal. Employment fell for a seventh consecutive month, while supply availability deteriorated.
In company news, Uber Technologies (UBER) and Nvidia (NVDA) said late Monday they intend to launch a global fleet of autonomous vehicles powered by L4 software from the chipmaker in H1 2027. The initial deployment will occur in Los Angeles and San Francisco before expanding to 28 cities globally by 2028. Uber shares rose 4.1%, while Nvidia shares fell 0.6%.
Ampco-Pittsburgh (AP) reported a Q4 net loss late Monday of $2.85 per diluted share, widening from a loss of $2.09 a year ago. Shares fell 20.9% on Tuesday.
AEye (LIDR) said late Monday it is joining the Nvidia Halos AI Systems Inspection Lab, which is the first ANSI National Accreditation Board-accredited lab in the world. Shares of AEye gained 18% on Tuesday.
Gold futures were little changed at $5,005.5 per troy ounce, and silver futures declined 1.6% to $79.38 per troy ounce.