US Equity Indexes Rise After US Proposal to Form Coalition to Address Energy Crisis

04:38 PM EDT, 03/16/2026 (MT Newswires) -- US equity indexes closed higher on Monday as oil prices and Treasury yields fell amid reports of easing shipment disruption in the Strait of Hormuz and the US government urging allies to join its efforts to address the Middle East energy crisis.

Several tankers passed through the Strait successfully over the weekend, according to Bloomberg. The Trump administration is seeking help from countries to escort ships through the Strait, but a deal is yet to be finalized, according to The Wall Street Journal.

West Texas Intermediate crude oil futures slipped 5.2% to $93.51.

The Nasdaq Composite rose 1.2% to 22,374.1, with the S&P 500 up 1% to 6,699.3. The Dow Jones Industrial Average gained 0.8% to 46,946.4. All sectors were in the green, led by technology and consumer discretionary.

US Treasury yields fell, with the 10-year yield down 6.3 basis points to 4.22%. The two-year yield slipped 6.1 basis points to 3.675%.

In economic news, industrial production rose 0.2% in February, compared with 0.7% in January and higher than the 0.1% forecast by analysts surveyed by Bloomberg. Manufacturing output rose 0.2% in February from 0.8% in the month earlier and above the 0.1% expected in a Bloomberg-compiled survey.

Utilities output declined by 0.6% due to a drop in natural gas production, while mining production rose by 0.8%. Capacity utilization for February stood at 76.3%, unchanged from a month earlier and higher than the 76.2% expected by analysts polled by Bloomberg.

The National Association of Home Builders' monthly housing market index rose to 38 in March from 37 in the month earlier, and higher than the 37 expected in a Bloomberg-compiled survey.

"While the Freddie Mac 30-year fixed rate mortgage averaged 6.05% in February, the lowest since August 2022, downpayment hurdles and uncertainty from the conflict with Iran and the price of oil will be headwinds going forward," said NAHB Chief Economist Robert Dietz said.

The Empire State Manufacturing Index in March declined to minus 0.2 from 7.1 in February, and below the 3.9 expected by analysts surveyed by Bloomberg, primarily due to a decline in shipments, longer delivery times, and pressures on supply availability.

In company news, Nebius (NBIS) entered a five-year AI infrastructure supply deal with Meta Platforms (META) worth around $27 billion. Under the terms, Nebius (NBIS) will supply $12 billion in dedicated capacity utilizing the Nvidia (NVDA) Vera Rubin platform in multiple locations starting in early 2027, according to a statement. Nebius (NBIS) shares rose 14.9%, while Meta shares gained 2.3%.

Micron Technology (MU) said Sunday it closed the acquisition of Powerchip Semiconductor Manufacturing's P5 semiconductor site in Miaoli County, Taiwan, which will operate as an extension of its campus in Taichung, the company said. Micron shares were up 3.6%.

Microsoft (MSFT)-backed (MSFT) OpenAI is engaging with TPG (TPG), Brookfield Asset Management (BAM) , Advent International, and Bain Capital on establishing a joint venture to distribute its products across the private-equity firms' portfolios of companies, Reuters reported Monday, citing sources.

Gold futures fell 0.9% to $5,015.9 per troy ounce, and silver futures declined 0.4% to $80.99 per troy ounce.

MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.