Public Markets 8-Hour Briefing
×Market Performance
Wall Street's safety net is giving way as Iran war hits markets, with stocks experiencing their worst week since April. The Dow industrials fell 3% this week as investors grappled with shrinking labor force and surging oil prices. Wall Street was rattled by a weak jobs report showing US employers unexpectedly cut 92,000 jobs in February.
Federal Reserve Outlook
Cleveland Fed President Beth Hammack warned of potential "tighter" policy as oil shock lingers. She also expects interest rates to be on hold for some time, seeing two-sided risks to rates with the latest disappointing jobs numbers adding uncertainty to the economic outlook.
Index Changes
Vertiv, Lumentum, Coherent, and Echo Star will join the S&P 500 in the latest quarterly rebalance, with tech companies leading the surge in the index reshuffle. The reshuffling comes as Wall Street faces increasing volatility from geopolitical tensions and economic uncertainty.
Global Markets
China's central bank extended its gold buying streak to 16 months in February, accumulating bullion as Middle East tensions push prices higher. Meanwhile, Tokyo urged the U.S. to honor trade terms as a 15% blanket levy looms, adding to trade tensions in the region.
Energy Markets
Energy markets continue to be impacted by the Middle East conflict, with oil prices potentially reaching triple-digit levels if the Iran war extends. Asian energy buyers are facing queues, price hikes, and shortages across import-dependent regions. The Trump administration announced a $20 billion reinsurance plan to ease Gulf oil trade as shipping in the Strait of Hormuz has nearly stopped.