From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 4/7/2026
U.S. equities opened lower and extended losses as investors grew less optimistic that a last minute diplomatic agreement with Iran would be reached ahead of today’s deadline. U.S. officials reiterated that failure to secure a deal could lead to military action, increasing near term geopolitical uncertainty and weighing on risk sentiment. While an agreement is broadly viewed as unlikely, negotiations remain ongoing, and market participants generally expect that immediate strikes on civilian infrastructure will be avoided, limiting the risk of near term escalation.
February durable goods orders fell 1.4% m/m, coming in slightly weaker than consensus expectations for a 1.1% decline, with the headline figure dragged down by a sharp pullback in volatile transportation equipment, particularly aircraft orders. Stripping out transportation, however, orders were far more resilient, increasing 0.8%. Core capital goods orders, the key control group used in GDP calculations, were up 0.4% for the month.
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