Market Pulse

Index	Last Week	1-Month (Trailing)	YTD
DJIA	−1.29%	−0.08%	+1.89%
S&P 500	−0.50%	−1.37%	+0.60%
Nasdaq	−0.25%	−3.78%	−1.14%
Russell 2000	−1.21%	−1.25%	+6.20%
MSCI EAFE	+0.46%	+3.22%	+9.74%
MSCI EM	+0.38%	+3.71%	+14.38%
Bloomberg U.S. Agg	+0.50%	+1.21%	+1.52%
Bloomberg U.S. Corp HY	−0.35%	−0.55%	+0.11%

Data as of: Friday, February 27, 2026, 4:00 p.m. ET

See important disclosures below.

Weekly Recap

02/23/2026 - 02/27/2026

U.S. Economy

• January core PPI rose 0.8%, reinforcing sticky inflation concerns

• Supreme Court ruling shifts tariff policy to new 15% global rate

Equity Market

• Major indices fell; Equal-Weight S&P outperformed

• AI fears sparked $220B software selloff; Nvidia slid

Bond Market

• Treasuries firmed with modest curve steepening

• Private credit stress resurfaced amid AI disruption fears

Around the Globe

• US-Iran tensions elevated as diplomacy continues

• Dollar up 0.6%; gold, silver, crude gained

The Week Ahead…

03/02/2026 - 03/06/2026

• Mon

  • ISM Manufacturing Index (Feb)

  • PMI Manufacturing Final (Feb)

  • NCLH, MongoDB, Asana

• Tue

  • Consumer Confidence (Feb)

  • Wholesale Inventories (Jan Final)

  • AutoZone, Best Buy, CrowdStrike, Ross Stores

• Wed

  • ADP Employment Report (Feb)

  • ISM Non-Manufacturing Index (Feb)

  • Abercrombie & Fitch, Broadcom, Okta, Veeva

• Thu

  • Unit Labor Costs (Q4 Prelim)

  • Productivity (Q4 Prelim)

  • Costco, Kroger, JD.com, Marvell

• Fri

  • Nonfarm Payrolls (Feb)

  • Unemployment Rate (Feb)

  • Retail Sales (Feb)

The week ahead brings a lighter earnings calendar as fourth-quarter reporting season winds down, but several notable names remain. Early in the week, a handful of mid-cap and select consumer and technology companies report, while attention builds into midweek for larger-cap updates including Abercrombie & Fitch, Broadcom, Okta, and Veeva. Later in the week, Costco, Kroger, JD.com, and Marvell headline, offering read-throughs on consumer spending, enterprise demand, and AI-related semiconductor trends.

On the economic front, manufacturing data kicks things off Monday with final PMI and the ISM Manufacturing Index, both key gauges of industrial momentum. Midweek focus shifts to the ADP Employment Report and ISM Services, which will help frame expectations ahead of Friday’s official labor market data.

Friday is the clear macro highlight, featuring Nonfarm Payrolls, the unemployment rate, and retail sales. With inflation still sticky and the Fed in pause mode, labor and consumer data will be critical for rate expectations and near-term market direction.

-Matt Shaw, CFA

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