Market Wrap US Stock Market Summary – March 11, 2026
Today at a Glance
Market Summary
On March 11, the US stock market ended mixed amid a surge in oil prices triggered by the Iran conflict. The S&P 500 slipped 0.08%, while the Dow Jones ($INDU) fell 0.61% to mark its lowest level of the year. The Nasdaq ($CCMP) gained 0.08%, highlighting relative strength in tech shares. The Fear & Greed Index stood at 27 (Fear), signaling risk-off sentiment, while the VIX declined 2.81%, suggesting some easing in volatility.
Sector & Asset Trends
Leading sectors: Energy stood out as the strongest performer. The Energy ETF ($XLE) rose 2.48%, even as the International Energy Agency (IEA) announced its largest-ever release of emergency oil stockpiles. The move reflected concerns over Iran's attacks on ships near the Strait of Hormuz, which continued to buoy crude prices. Tech stocks also edged higher, with the Technology ETF ($XLK) gaining 0.48%.
Lagging sectors: Financials (-0.84%), Consumer Staples (-1.32%), Communications (-0.32%), and Industrials (-0.31%) posted losses. Notably, credit-market concerns intensified after redemptions from Cliffwater's private credit fund reportedly climbed to 14%.
Bond market: Long-dated Treasuries posted steep declines. Bonds with maturities of 20 years and above ($TLT) fell 1.29%, while 7–10 year notes ($IEF) dropped 0.46%. The selloff was attributed to inflation worries stemming from the oil price spike and the possibility of further rate hikes by the Federal Reserve.
Key Stock Movers
Top gainers: Oracle ($ORCL) led the upside with a 9.18% jump. The rally appeared to be driven by relief from OpenAI-related concerns, even after strong earnings. Micron ($MU) climbed 3.86%, Uber ($UBER) added 3.61%, and energy names extended their advance. Chevron ($CVX) rose 2.95%, Shell ($SHEL) gained 2.69%, and ExxonMobil ($XOM) added 2.33%, all benefiting from the surge in crude prices.
Top losers: Novartis ($NVS) dropped 3.58%, Philip Morris ($PM) fell 3.49%, and AppLovin ($APP) slid 3.34%. Netflix ($NFLX) declined 2.11%, though it drew attention on news that a Ben Leporcel-owned AI company was acquired. Telecom name T-Mobile ($TMUS) lost 2.44%, and software stock SAP $SAP (SAP) fell 2.35%.
Technical Signals & Outlook
Technical signals are evenly split between bullish and bearish readings (120 each), reflecting the market's uncertainty. See the detailed technical signals report for more.
The market is currently caught between the oil price surge driven by the Iran conflict and renewed inflation concerns, leaving direction unclear. Morgan Stanley has warned that the oil shock could delay the Federal Reserve's next rate cut, so incoming inflation data and any easing of geopolitical tensions are expected to be the key factors shaping market direction going forward.
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