TLDR
- Major U.S. indexes—the S&P 500, Dow Jones, and Nasdaq—recorded their third consecutive weekly decline as crude oil prices surpassed $100 per barrel, reigniting inflation concerns.
- Oil prices jumped approximately 9% following Middle East conflicts that disrupted critical shipping routes through the Strait of Hormuz.
- Oracle exceeded earnings projections with revenue growth exceeding 20%, driven primarily by artificial intelligence and cloud computing demand.
- Gold prices declined roughly 1% for the week despite heightened geopolitical tensions, as dollar strength curtailed safe-haven purchases.
- Energy sector stocks emerged as the week’s top performers, while consumer staples and healthcare sectors dropped 4–5%.
American equity markets extended their losing streak to three consecutive weeks as crude oil prices surged beyond $100 per barrel and escalating Middle East conflicts unnerved market participants. The three major stock indices all closed in negative territory for the week concluding March 13, 2026.
The S&P 500 declined approximately 1.6%, while the Dow Jones Industrial Average shed around 2%, and the Nasdaq Composite dropped roughly 1.3%. Small-capitalization stocks also retreated, with the Russell 2000 index falling about 1.8%.
Oil dominated market headlines. Crude prices jumped approximately 9% after military tensions involving the United States, Israel, and Iran interfered with maritime traffic through the Strait of Hormuz. Market analysts characterized this as one of the most dramatic weekly increases in oil futures since the 1980s.
Just 2 hours after markets closed:
President Trump is now threatening to strike oil infrastructure on Iran’s Kharg Island, which accounts for 2% of global supply, if Iran doesn’t open the Strait of Hormuz.
In fact, last month, production coming from Kharg Island hit 3 million… https://t.co/pzI2GuoCoz
— The Kobeissi Letter (@KobeissiLetter) March 14, 2026
The oil price surge rekindled inflationary pressures across markets. Producer price index figures registered slightly above forecasts, fueling concerns that elevated costs might pass through to retail consumers in coming weeks.
This development created a challenging environment for the Federal Reserve. While markets continue anticipating interest rate reductions later this year, the timeline has become increasingly uncertain as energy-driven inflation muddles the economic outlook.
Oracle Delivers Impressive Earnings Performance
Oracle emerged as the week’s most notable earnings story. The technology giant released fiscal third-quarter results that exceeded analyst expectations, with overall revenue expanding by more than 20% and artificial intelligence infrastructure sales demonstrating triple-digit percentage gains.
Company leadership also provided optimistic forward guidance, forecasting high-teens revenue expansion continuing through fiscal 2027. Shares climbed during after-hours trading but concluded the week essentially unchanged as market participants balanced the positive outlook against a stock price still trading roughly 50% beneath last year’s peak levels.
Campbell Soup presented a contrasting narrative. The food manufacturer marginally surpassed adjusted earnings estimates but provided conservative 2026 guidance that disappointed Wall Street expectations, pushing shares downward.
Energy and industrial companies defied broader market weakness, with multiple mid-capitalization firms delivering robust results linked to improving demand and expanding export opportunities.
Gold Retreats While Energy Stocks Advance
Gold temporarily recovered above $5,100 per ounce during Friday’s session but nevertheless concluded the week down approximately 1%. Dollar appreciation and diminishing expectations for rate cuts counterbalanced demand for traditional safe-haven assets.
Energy sector equities were unmistakable winners. Leading U.S. energy-focused funds advanced 2–3% across the week. Marathon Petroleum and comparable refining companies climbed in the high single-digit percentage range as market participants anticipated enhanced profit margins stemming from elevated oil prices.
Consumer staples and healthcare ranked among the poorest-performing sectors, each surrendering 4–5%. Market participants shifted capital away from these defensive categories as input cost pressures mounted and earnings uncertainty intensified.
Financial stocks also underperformed, weighed down by emerging stories regarding private-credit exposure at prominent financial institutions. Technology stocks registered modest losses overall, though large-capitalization technology names demonstrated greater resilience than smaller software companies.
The Cboe Volatility Index climbed from late February readings as market participants increased spending on downside protection options, signaling a more defensive posture entering the upcoming week.
