From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 4/3/2026
U.S. equity markets are closed today in observance of Good Friday. Domestic stocks rebounded solidly yesterday after a steep decline at the open, with both the Nasdaq Composite and the S&P 500 finishing the session higher. The DJIA ended the day modestly lower. Overnight, Iran continued strikes against energy infrastructure in the Arab Gulf, despite renewed warnings from the United States, keeping geopolitical risks elevated.
The March employment report showed a notable rebound in hiring, with nonfarm payrolls increasing by 178,000, well above expectations of 60,000 and reversing a downwardly revised decline of 133,000 in February. The unemployment rate edged down to 4.3% from 4.4%, though the improvement was driven in part by a decline in labor force participation, which fell to 61.9%, its lowest level since late 2021. Wage pressures continued to ease, with average hourly earnings rising 0.2% during the month and 3.5% year-over-year, the slowest annual pace since mid-2021.
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