Market Pulse

Index	Last Week	1-Month (Trailing)	YTD
DJIA	−2.21%	−8.25%	−5.27%
S&P 500	−1.92%	−5.86%	−4.98%
Nasdaq	−2.17%	−5.51%	−6.96%
Russell 2000	−1.95%	−8.71%	−2.02%
MSCI EAFE	−2.96%	−10.92%	−2.69%
MSCI EM	−2.10%	−10.80%	+1.64%
Bloomberg U.S. Agg	+0.28%	−1.07%	+0.12%
Bloomberg U.S. Corp HY	+0.08%	−1.34%	−0.43%

Data as of: Friday, March 20, 2026, 3:23 p.m. ET

See important disclosures below.

Weekly Recap

03/16/2026 - 03/20/2026

U.S. Economy

• Fed held rates; hawkish stance

• Data mixed; inflation elevated

Equity Market

• Stocks fell fourth straight week

• Energy, banks outperformed

Bond Market

• Treasuries sold off; curve flattened

• Cuts pushed further out

Around the Globe

• Israel-Iran tensions escalate

• Metals plunge; oil volatile

The Week Ahead…

03/23/2026 - 03/27/2026

• Mon

  • Construction Spending (Jan)

• Tue

  • KB Home earnings

  • Productivity, Labor Costs (Q4)

  • Manufacturing, Services PMI (Mar)

• Wed

  • Chewy, Paychex, Cintas, Winnebago earnings

  • Mortgage Applications, Current Account

  • Import, Export Prices (Feb)

• Thu

  • Lovesac, Oxford Industries earnings

  • Jobless Claims

• Fri

  • Carnival earnings

  • Wholesale Inventories (Feb)

  • Consumer Sentiment (Mar)

The week ahead is relatively quiet on the earnings front, sitting in the typical lull before first-quarter reporting begins in mid-April. That said, a handful of notable companies will report, including KB Home on Tuesday, followed by Chewy, Paychex, Cintas, and Winnebago on Wednesday. Additional updates from Lovesac, Oxford Industries, and Carnival later in the week should provide incremental reads on consumer demand trends, particularly across housing, discretionary spending, and travel.

On the macro side, the focus shifts to a steady cadence of economic data. Tuesday brings revised productivity and labor cost figures alongside preliminary March PMIs, offering insight into business activity and cost pressures. Wednesday’s updates on mortgage applications, the current account balance, and trade prices will help frame housing demand and inflation trends.

The week wraps with jobless claims on Thursday and wholesale inventories and consumer sentiment on Friday, key indicators for labor market resilience and consumer health.

-Matt Shaw, CFA

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