From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 3/11/2026
U.S. stocks were mixed Wednesday morning as volatility persisted as investors continued to monitor developments in the conflict with Iran alongside the latest inflation data. Oil prices moved higher, though the IEA provided some relief by announcing a record release of 400 million barrels from its reserves. Trading opened on a choppy note, with the Nasdaq moving higher while both the DJIA and S&P 500 traded lower. On Tuesday, the DJIA and S&P 500 posted modest declines, whereas the Nasdaq ended the session slightly higher.
The Consumer Price Index report released this morning showed that consumer prices rose 0.3% in February, matching expectations of 0.3%. Annual inflation held at 2.4%, matching expectations and unchanged from January. Core CPI increased an estimated 0.3% month-over-month and 2.5% year-over-year, both matching estimates. The annual core reading was also unchanged from the previous month.
MBA mortgage applications increased in the latest weekly report, rising 3.2% for the week ending March 6, 2026. Purchase activity was up 7.8% on a seasonally adjusted basis compared with the previous week, while refinance activity stayed roughly flat. The average 30-year fixed mortgage rate increased to 6.19% from 6.09% amid elevated market volatility.
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