Opening Comment — Wednesday, March 11, 2026
DJIA: 47,706.51, down 34.29
S&P 500: 6,781.48, down 14.51
NASDAQ: 22,697.10, up 1.15
Stocks higher ahead of inflation data
Stock futures are higher Wednesday morning as markets continue to assess developments in the Iran War and the effects on the supply of oil. Investors are also awaiting today’s release of February Consumer Price Index (CPI) data. As of 7:18 AM ET, the Dow and the S&P 500 Index are both rising 0.2%. The Nasdaq 100 is also increasing 0.2% relative to fair value on the GLOBEX.
U.S. equities were mostly lower on Tuesday as small business optimism fell and existing home sales unexpectedly increased in February, rising to an annualized pace of 4.09 million units. The Dow was down 0.1%, while the tech-heavy Nasdaq Composite was little changed. The S&P 500 decreased 0.2% with nine of 11 sectors finishing in negative territory. The Communication Services sector was the top performer, rising 0.3%, while the Energy sector was the bottom performer, falling 1.3%.
On the data front, the Mortgage Banker Association’s gauge of mortgage applications increased by 3.2% for the week ending March 6 versus the prior week’s increase of 11.0%. The headline CPI for February is expected to show price increases of 0.3% month-over-month (MOM) and 2.4% year-over-year (YOY), versus the prior month’s increases of 0.2% and 2.4%, respectively. Meanwhile, core CPI is expected to show price increases of 0.2% MOM and 2.5% YOY, versus the prior month’s increases of 0.3% and 2.5%, respectively. The Department of Energy’s measure of crude oil inventories is expected to have increased by 2.5 million barrels for the week ending March 6 versus the prior week’s increase of 3.5 million barrels. Meanwhile, the U.S. deficit for February is expected to widen to $310.0 billion from the prior month’s $94.6 billion. Data on February’s average hourly and weekly earnings is also scheduled for release.
Across the pond, European stocks are lower in mid-day trading as Germany’s finalized February CPI remained unchanged from the prior reading, coming in at 0.2% MOM and 1.9% YOY.
Overnight in Asia, stocks were mostly higher as Japan’s Producer Price Index (PPI) for February decreased 0.1% MOM, compared to a 0.2% increase in the prior month, while the YOY gain eased to 2.0% from the previous month’s increase of 2.3%.
In FOREX trading, the U.S. dollar is slightly higher ahead of today’s U.S. CPI data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 2.2% higher at $85.29/barrel despite an expected increase in crude oil inventories.
In the metals complex, gold is 0.1% lower at $5,189.42/ounce following a strengthening U.S. dollar.