Market Close: Stocks Lower, U.S. Crude Tops $93, Baseball Card Sells for $11M • 9/8/26

Watch on YouTube ↗  |  September 08, 2026 at 20:43  |  3:59  |  CNBC
Speakers
Jessica Ettinger — Anchor, CNBC
Patrick De Haan — Head of Petroleum Analysis, GasBuddy
Jeff Currie — CSO Energy Pathways, Carlyle Group
Mackenzie Sigalos — Crypto Reporter/Analyst, CNBC
Kevin O'Leary — TV Personality, Shark Tank

Summary

CNBC Business News Update recaps Tuesday's stock selloff and rising oil/refined fuel prices, with guest commentary warning on tight diesel supply from refinery capacity, Russian drone attacks, and Strait of Hormuz bottlenecks. It also previews Apple's iPhone event and covers a record $11 million Shohei Ohtani baseball card sale.

  • Major US averages fell Tuesday: Dow -626 points, S&P 500 -44, Nasdaq -85.
  • WTI rose toward $94 and Brent hit $98 after Middle East attacks.
  • Speakers warned diesel/gasoline supply is tight due global refining limits, Ukraine drone attacks, cold weather risk, and Hormuz product bottlenecks.
  • Apple is expected to announce new iPhones, including a folding iPhone Ultra priced near $2,400, with Pro price hikes.
  • Wednesday's earnings include Chewy, Signet Jewelers, and American Eagle Outfitters.
  • A rare Shohei Ohtani Topps card was bought by Kevin O'Leary's company for $11 million.
Ideas
Jessica Ettinger Anchor, CNBC 0:41
Global refining shortage supports diesel, gasoline.
Tankers are avoiding moving gasoline and diesel through the Strait of Hormuz because refined product cargoes are sitting time bombs, while crude can still get out, so Iranian refined products are not reaching the market and product supply remains tight.
UGA DIESEL MED
Mackenzie Sigalos Crypto Reporter/Analyst, CNBC 1:59
Apple iPhone event may be catalyst.
Apple's Wednesday iPhone event is expected to deliver its most consequential lineup in nearly a decade, including the first folding iPhone Ultra at around $2,400 and price hikes to Pro models, a potential catalyst for Apple.
AAPL LOW
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This CNBC video, published September 08, 2026, features Jessica Ettinger, Mackenzie Sigalos discussing UGA, DIESEL, AAPL. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Jessica Ettinger, Mackenzie Sigalos  · Tickers: UGA, DIESEL, AAPL