It’s a holiday-shortened trading week, with the spotlight on jobs data and the continuing economic turmoil due to the ongoing war between the U.S., Israel, and Iran. Here’s what’s happening …
- Just a handful of notable companies report earnings this week. This morning, numbers are due from Nike, McCormick & Company, and RH (Restoration Hardware), followed Wednesday by ICON, ConAgra, and Lamb Weston. Thursday earnings are expected from Acuity and Terns Pharmaceuticals, followed by a quiet Wall Street holiday Friday. *
- A busy week of labor data will set the tone heading into Friday’s March jobs report. JOLTs openings arrive this morning, followed by the ADP private‑sector hiring read on Wednesday, all of which should help clarify whether the labor market is stabilizing or slipping further after February’s 92,000 job loss. Fed Chairman Jerome Powell has downplayed the recent softness, pointing instead to longer‑running supply issues like weaker immigration and At the same time, continuing claims just hit their lowest level since May 2024, suggesting layoffs remain limited. Overall, it’s still a “slow hire, slow fire” environment, but any sharper deterioration this week would complicate the Fed’s balancing act, especially with inflation risks tied to Middle East tensions still in the mix. **
- Americans are feeling the squeeze at the pump again. The national average for gasoline reached $4.00 a gallon on Monday, the highest level since 2022, after jumping more than a dollar in a month as shipping through the Strait of Hormuz remains Diesel has climbed even faster, rising 44 percent in a month to $5.41, which is hitting truckers and supply chains especially hard. The West Coast is seeing the sharpest pain. Diesel just set a new record at $7.36, and gasoline is only twelve cents away from $6 per gallon. Energy costs are moving higher in a hurry, and the regional gap is widening. ***
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