Latest Finance-Economy News
Oil Prices Surge Past $110 Per Barrel Amid Iran Conflict
Iranian attacks on oil facilities in the Middle East have halted tanker traffic through the Strait of Hormuz, driving Brent crude above $110/barrel, the biggest spike since 2022. Analysts warn prices could hit $150 soon, with Bahrain's Batco Energies declaring force majeure after refinery fire.
Wall Street Journal calls it the most severe energy shock since the 1970s.
US Stock Markets Sink as S&P Futures Drop 1%
S&P futures down 1%, Dow 1.1%, Nasdaq 1.06% amid global tensions and energy cost surge. Stocks fell 5% this month following 14.9% Brent crude spike to $106.50.
Energy and staples rose Friday, but discretionary, materials, tech declined sharply.
US Economy Loses 92,000 Jobs in February, Unemployment at 4.4%
Bureau of Labor Statistics reports 92K job losses vs. expected 50K gains, unemployment rises to 4.4%. Losses hit U.S.-born workers hardest, complicating Trump's economic promises.
Productivity up 2.8% Q4 but labor share of income at record low.
Gas Prices Jump 19% to $3.45 After Iran Strikes
Strikes on Iran since Feb. 28 pushed national average gas to $3.45/gallon per AAA. Goldman Sachs warns persistent high oil could lift inflation from 2.4% to 3% by year-end.
Trump calls it temporary, bets on quick conflict end or more Strait tankers.
Recession Odds Spike to 33% for US in 2026
Kalshi prediction market shows 33% US recession chance in 2026, up from 22% last week amid Iran war. Bettors see 11% chance recession starts Q1 2026; economists cite energy 'perfect storm'.
White House urges calm, cites long-term positive outlook despite disruptions.
Iran Attacks Disrupt Gulf Oil, Hit US Firm Compounds
Iranian strikes destroyed radar in Qatar, UAE, Jordan, Bahrain, Kuwait, Saudi; fires at Halliburton, KBR in Iraq Basra. Bahrain refinery fire forces force majeure; Norway probes US embassy explosion.
Iranian strikes killed 2 in Israel, wounded 1.
Trump's 'Roaring Economy' Faces Rough 2026 Start
President Trump promised bumper growth, but job losses, gas hikes undermine narrative post-State of the Union. Biden's 2024 economy grew faster than Trump's 2025, hurting midterm messaging.
Administration banks on containing energy shocks.
ConstructConnect Index Shows 14% Construction Growth
March 2026 Expansion Index at 1.14, eighth straight month up, led by industrial (2.00) and commercial (1.48) sectors. 16 states grew 10%+ in planned projects; Arizona tops with Phoenix industrial boom.
Residential, medical sectors contract >10%.
Treasury Yields Steady, No Fed Cut Expected in March
10-year Treasury at 4.19%, 2-year at 3.63%; CME tool shows 97%+ no March rate cut. Markets reassess paths amid oil surge beyond $100.
Upcoming CPI, core CPI at 8:30AM; jobless claims Thursday.
Middle East Tensions Fuel Highest Inflation Fears Since 1970s
Energy shock from Iran offensive could dampen growth, push inflation higher per analysts. JPY weakens as oil jumps; global markets under pressure.
Vector Bank forecasts moderate 2026 growth via consumer spending, jobs.
Biden-Era Growth Outpaces Trump's 2025 Amid Current Slump
Stock market down 5% this month; 2024 under Biden grew faster than 2025 under Trump. Labor data miss highlights systemic fragility realization.
Productivity gains not reaching workers' pay.
Upcoming Economic Data: CPI, Budget, Trade Deficit
Today: CPI/core CPI 8:30AM, Feb federal budget 2PM. Thursday: jobless claims week ending Mar7, Jan trade deficit.
Global calendar includes CN data 3AM, US trade 6PM.