Opening Comment — Tuesday, March 10, 2026
DJIA: 47,740.80, up 239.25
S&P 500: 6,795.99, up 55.97
NASDAQ: 22,695.95, up 308.27
Stocks higher ahead of fresh economic data
Stock futures are mostly higher Tuesday morning as small business optimism declined and ahead of today’s February existing home sales data release. Investors are also looking forward to tomorrow’s February Consumer Price Index (CPI) data. As of 7:15 AM ET, the Dow is rising 0.1%, while the S&P 500 is flat. The Nasdaq 100 is increasing 0.1% relative to fair value on the GLOBEX.
U.S. equities were higher on Monday despite intraday volatility as hopes grew for a quick resolution to the Iran War following comments late in the day from President Donald Trump. The Dow was up 0.5%, while the tech-heavy Nasdaq Composite rose 1.4%. The S&P 500 increased 0.8% with nine of 11 sectors finishing in positive territory. The Information Technology sector was the top performer, rising 1.8%, while the Financials sector was the bottom performer, falling 0.5%.
On the data front, the National Federation of Independent Business’s gauge of small business optimism unexpectedly decreased to 98.8 in February from the prior month’s 99.3. Existing home sales are forecasted to have been at an annualized 3.88 million pace in February versus the prior month’s 3.91 million pace, corresponding to a decrease of 0.8% versus the prior month’s decrease of 8.4%.
Across the pond, European stocks are higher in mid-day trading as Germany’s trade surplus unexpectedly widened in January, with exports decreasing more than projected and imports unexpectedly falling. France’s trade deficit narrowed in January, while its current account surplus widened after the previous month’s reading was revised upward from a deficit to a surplus.
Overnight in Asia, stocks were higher as China posted a $90.98 billion trade surplus in February, supported by export growth of 39.6% year over year (YOY), while imports rose 13.8% YOY. South Korea’s preliminary reading of fourth-quarter gross domestic product (GDP) showed a smaller-than-expected contraction of 0.2% quarter-over-quarter and greater-than-expected growth of 1.6% YOY. Meanwhile, Westpac’s Consumer Confidence Index for Australia rose by 1.2% month-over-month (MOM) in March, while National Australia Bank’s Business Confidence Index fell in February. Japan’s finalized fourth-quarter GDP growth was revised upward to an annualized 1.3% pace, while the country’s preliminary February machine tool orders rose 24.2% YOY. Meanwhile, the country’s household spending unexpectedly declined in January, falling by 1.0% YOY.
In FOREX trading, the U.S. dollar is lower ahead of tomorrow’s U.S. CPI data release.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 6.1% lower at $88.99/barrel following easing market concerns for a long-term disruption to oil markets.
In the metals complex, gold is 0.7% higher at $5,172.69/ounce following a weakening U.S. dollar.