Market Review: March 13, 2026

Closing Recap

Index	Up/Down	% Change	Last
DJ Industrials	-118.02	0.25%	46,559
S&P 500	-40.37	0.61%	6,632
Nasdaq	-206.62	0.93%	22,105
Russell 2000	-8.93	0.36%	2,480

Market Overview

U.S. stocks closed the day and week with losses, primarily driven by escalating tensions between the U.S. and Iran. The situation has led to rising oil prices, which reached $100 per barrel, raising inflation and recessionary concerns. The Pentagon's decision to move additional Marines and warships to the Middle East in response to Iran's increased attacks on the Strait of Hormuz triggered significant selling pressure in the stock market. Defensive sectors such as Staples, REITs, and Utilities performed better within the S&P 500.

President's announcement of impending actions against Iran and a partial waiver for Russian oil purchases added to market volatility. Despite a mostly in-line inflation reading from the January PCE data, it failed to provide any support to the markets. A weaker GDP reading raised expectations for a more active rate-cutting Federal Reserve, but this did not translate into market gains.

Economic Data

The January Personal Consumption Expenditure Price Index (PCE) rose by 0.3% month-over-month, matching consensus expectations. The Core PCE Inflation reached 3.1%, the highest since March 2024. Personal outlays and income both increased by 0.4% month-over-month, slightly above expectations.

However, U.S. GDP growth for Q4 was revised down to 0.7%, reflecting downward revisions in exports, consumer spending, and government spending. New orders for key U.S.-manufactured capital goods remained unchanged in January, indicating weakness in business spending.

Commodities

Gold prices fell by 1.25% to settle at $5,061.70 an ounce, pressured by a stronger dollar and inflation concerns. Oil prices, however, rose, with WTI crude settling at $98.71 per barrel, marking the second consecutive close above $100.

Currencies & Treasuries

The U.S. Dollar Index rose above 100 for the first time since November, driven by its safe-haven appeal. Treasury yields also increased, with the benchmark 10-year yield rising to 4.284%, marking the longest streak of rising yields since July 2025.

Sector News Breakdown

Retail, Consumer Staples & Restaurants

In the food sector, OFRM shares fell after its first earnings report post-IPO. In beauty products, ULTA shares slid despite beating sales estimates due to higher costs. The education sector saw KLC shares tumble after a wider net loss.

Banks, Brokers, Asset Managers

Bank stocks faced pressure due to geopolitical concerns, but executives provided positive updates on loan growth and capital markets.

Biotech & Pharma

CRVS entered an amended sales agreement to sell common stock, while GSK received FDA approval for its RSV vaccine for a broader age range.

Materials, Metals & Mining

Fertilizer stocks surged due to supply disruptions from the Iran conflict, with urea prices spiking significantly. Wells Fargo upgraded several chemical stocks, anticipating pricing upside due to the conflict.

Internet, Media & Telecom

AT&T introduced a new value plan for customers, while META postponed the release of its AI model. AAPL announced a reduction in App Store fees in China.

Conclusion

The market remains under pressure due to geopolitical tensions and economic data that suggest a slowing economy. Investors are closely watching central bank actions in the coming week, which could provide further direction for the markets.