Wednesday - March 11, 2026

On Wednesday the market opened with the Dow slipping 289 points while the S&P stayed flat and the Nasdaq edged higher, reflecting heightened volatility tied to geopolitical tension in Iran and the Strait of Hormuz. Energy commodities surged—WTI rose roughly 20% and Brent 15%—pressuring headline inflation. The February CPI report showed a 0.3% monthly increase, translating to 2.4% year‑over‑year, and core inflation at 2.5%, just shy of the Fed’s 2% goal. These figures illustrate how rising oil prices are being partially neutralized by other price components.

The shelter component, which makes up 35% of CPI, is now lagging; Zillow’s rent index has flattened and even slipped in some markets, marking the lowest rise since early 2021. With shelter inflation at just 0.1% month‑over‑month, its downward pressure offsets the energy surge that only accounts for 7% of the index. Meanwhile, a new Fed chair slated for May is expected to pursue rate cuts while simultaneously reducing the balance sheet, a dual approach that could steepen the yield curve and support equity valuations despite ongoing geopolitical risks.

Investors asking about alternative‑fund costs received a clear answer: the advisory fee covers the expense, and there is no additional charge for holding private‑equity, private‑credit or other alternative structures within the firm’s institutional share class. Scale from a $9 billion platform and Hightower’s $300 billion assets delivers low expense ratios, while direct ownership of private loans remains impractical for most clients. The host also highlighted AI‑driven productivity gains as a nascent deflationary force, suggesting that technology could further ease inflation pressures and give the Fed more room to lower rates.