Market Musings 3/9/2026
Quick thoughts on the markets and major portfolio news. Not on Ursa yet? Download Ursa from the App Store!
Oil surged 30+% after Israeli strikes, but quickly recover…
Israeli strikes on Iranian oil sent crude oil soaring over 30% Monday morning, but #GlobalTension panic quickly faded.
Over the weekend, Israel struck about 30 Iranian fuel depots. The move took global markets by surprise—even Israel’s war partners in the US.
Oil prices surged as much as +31% on fears for long-lasting disruption to global energy supply. Stock futures tumbled and the market fell as much as -1.5% early Monday, but sentiment quickly reversed.
The White House signaled the war could be nearing an end.
Oil sharply reversed and actually finished the day down about -7%. Stocks recovered as well with the S&P 500 ending the day nearly 1% higher.
So, what now?
Markets probably know better than to rely too heavily on off-hand comments from the White House. After the close, they were already walking those comments back saying the strikes so far are not enough.
#GlobalTension (and oil) remain a risk. The most obvious impact is gas and jet fuel, but the bigger issue is #Inflation. Fuel costs feed directly into logistics and transportation and those costs eventually show up in the price of almost everything.
Speaking of #Inflation, that’s a focus for markets this week.
February CPI arrives Wednesday. It’s likely too early to see any Iran impact, but investors are still hoping #Inflation continues to cool. Core CPI is expected to decelerate slightly from last month.
Then on Friday we’ll get January PCE. That data is more backward-looking, but it matters because it’s the Fed’s preferred #Inflation measure.
We’ll see if the #Inflation data can help calm investors this week … or fan more flame.
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The statements, opinions and analyses presented here are provided as general information. This article is the opinion of the author. Anything within this article should NOT be considered an investment recommendation or advice. See Ursa’s full disclosures here.
Original Photo by Pixabay.