The Markets (as of market close March 27, 2026)
Stocks continued their downward trend last week as geopolitical tensions, volatile energy markets, and shifting stock traders’ sentiment weighed on performance. The Dow, S&P 500, and NASDAQ all declined, with the S&P 500 marking its fifth consecutive weekly loss—the longest streak since early 2022. The NASDAQ moved deeper into correction territory as technology and communication services lagged. Traders closely monitored developments surrounding U.S.-Iran negotiations and the temporary halt in U.S. strikes on Iranian energy infrastructure. Energy and materials outperformed, while oil prices remained highly volatile and climbed above $100 per barrel. Treasury yields continued to rise, and the U.S. dollar strengthened amid ongoing uncertainty.
Last Week’s Economic News
- Import prices rose in February, marking the largest monthly increase since March 2022, driven by higher fuel and nonfuel costs.
- Export prices increased in February, with a 3.5% year-over-year gain, reflecting broad-based price pressures.
- Weekly jobless claims rose to 210,000, while continuing claims declined to their lowest level since May 2024, indicating a still-resilient labor market.
- Gasoline prices rose, higher than both the prior week and a year ago, and mirroring elevated crude oil prices.
Eye on the Week Ahead
March employment data will be released this week, with expectations for modest job growth following several months of relatively stagnant labor market gains. Stock traders, and speculators alike, will be watching closely for signals on labor market strength and its impact on future Federal Reserve policy.
Have a nice week!
Sincerely,
Robert G. Carpenter