Market Report, 2026-03-16

This week started off on a good note, with all major stock indices and sectors ending Monday in the green. Energy shock concerns eased as reports suggested that the United States is allowing Iranian oil tankers through the Strait of Hormuz. Light sweet crude oil prices plunged nearly 7% from today’s high after the news. Stocks and bonds received a boost from the move.

The Dow Jones Industrial Average rose 388 points to 46,946. The NASDAQ rose 1.13% to 24,655. The S&P 500 rose 1.01% to 6,699. Looking at sectors, technology and consumer discretionary led today’s gains, with returns of more than 1% for the day. Most other sectors also posted meaningful gains of more than half a percentage point.

The bond market also jumped after the announcement. The U.S. 5-year Treasury yield declined by 7 basis points to 3.8%, and the 10-year yield declined by 6 basis points to 4.22%. Gold prices continued to drift slowly toward the $5,000 mark as hopes for an immediate rate cut remained low.

Economic data showed that February was generally better than expected. U.S. industrial production and capacity utilization came in slightly above economists’ median forecasts. Homebuilder confidence inched higher, but affordability concerns persist. According to the chairman of the National Association of Home Builders, many buyers remain on the fence, waiting for lower interest rates and responding to economic uncertainty. Builders are facing elevated land, labor, and construction costs.

Tomorrow, pending home sales data will be released. This is Adams Wealth Advisors, and thank you for listening.