Markets delivered a strong rebound this week, navigating through sharp swings driven by shifting developments surrounding the Iran conflict. Despite the uncertainty, major indices closed higher, with the Nasdaq 100 leading the way after recent weakness.
Although markets were closed in observance of Good Friday, economic data released during the week provided additional insight into the underlying strength of the economy. The March jobs report came in better than expected, reflecting resilience in the labor market—even as some rebound was anticipated following February’s disruptions from severe winter weather and a large healthcare strike.
At the same time, the latest JOLTS report painted a more cautious picture beneath the surface. Layoffs and voluntary quits remain low, signaling job stability, but hiring activity is also subdued. This combination suggests both employers and workers may be taking a “wait-and-see” approach as they assess the potential economic impact of ongoing geopolitical tensions.
Taken together, while markets demonstrated resilience last week, both economic data and geopolitical risks suggest that uncertainty remains elevated. Investors may continue to experience volatility as conditions evolve.
Treasury Yields
- 30-year Treasury: 4.908% (lower)
- 10-year Treasury: 4.347% (lower)
Mortgage Rates
- Average 30-year fixed (Freddie Mac): 6.46% (higher)
Commodities & Currency
- Crude oil: $112.06 per barrel (much higher)
- Natural gas: $2.807 (lower)
- U.S. dollar index: 100.13 (higher)
- Gold: $4,702.70 per ounce (higher)
- Silver $73.17 per ounce (higher)
S&P Cotality Case-Shiller U.S. National Home Price Index
- January -0.11%
- 12 Months +0.91%
S&P Global PMI Releases (March) Keep in mind that anything over 50 represents expansion and anything under 50 represents contraction.
- U.S. Manufacturing rose from 51.6 to 52.3
- U.S. Services fell from 51.7 to 49.8
- Canada Manufacturing fell from 51.0 to 50.0
- Canada Services rose from 45.8 to 46.5
- Mexico Manufacturing rose from 47.1 to 48.9
- China Manufacturing fell from 51.1 to 50.8
- China Services rose from 52.1 to 56.7
- Japan Manufacturing fell from 53.0 to 51.6
- Japan Services rose from 53.4 to 53.8
- Eurozone Manufacturing rose from 50.8 to 51.6
Commerce Department
- February Retail Sales +0.6%
Trade Deficit (February) +4.9%
Labor Department
JOLTS Report (February)
- Openings 6.88MM, lowest since 2020
- Hiring 4.8MM, lowest since April 2020
- Quits rate 1.9%, lowest since 2020
- Layoffs 1.7MM
- Ratio of vacancies per unemployed worker 0.9%
Jobless Claims (prior week)
- New Claims 202,000 (lower)
- 4-week Moving Average 207,750 (lower)
- Total Claims 1,841,000 (higher)
March Jobs Report
- +178,000
- Unemployment 4.3% (lower)
Energy & Industry Data
Energy Information Administration
- Weekly Oil Production 13.657 million barrels (unchanged)
- Natural Gas Storage +36 billion CuFt, above average for this time of year over the past 5 years.
Baker Hughes Rig Count
- Oil rigs: +2 at 411
- Gas rigs: -3 at 130
(All data was released the week of 03/30/2026)
If you have questions about the markets or your financial plan, we’re always here to help.
Loren Rex – Emeritus
Erik A Smith, AIF® – President & C.E.O.
Nicholas Acri, CFP® – Partner & Wealth Advisor
Dylan Thomas, CFP® – Partner & Wealth Advisor
Jack Zeeb – Wealth Advisor
These are the opinions of Loren Rex and Erik Smith and are not necessarily those of Cambridge, are for informational purposes only, and should not be construed or acted upon as individualized investment advice. The Indices mentioned are unmanaged and cannot be invested into directly. The Dow Jones Industrial Average, Dow Jones, or simply the Dow, is a stock market index of 30 prominent companies listed on stock exchanges in the United States. The DJIA is one of the oldest and most commonly followed equity indexes. The Nasdaq Composite is a stock market index that includes almost all stocks listed on the Nasdaq stock exchange (more than 2500 stocks).
Sources:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCRFPUS2&f=W
https://ir.eia.gov/ngs/ngs.html
https://www.freddiemac.com/pmms
https://www.wsj.com/market-data?mod=nav_top_subsection
https://bakerhughesrigcount.gcs-web.com/na-rig-count
