Weekly Market Insights | Markets Weather Volatile Week

"Choppy Markets" The Standard & Poor’s 500 Index declined 1.60%, its third conscutive decline, as oil prices continued to climb amid turmoil the Middle East.  The index ended the week at 6,632.19.  It is down 3.6% in March and has fallen 3.1% this year, but is still within 5% of all-time highs reached on January 27, 2026 despite everything going on in the world.  The Nasdaq Composite Index lost 1.26% closing Friday's session at 22,105.36. The Dow Jones Industrial Average fell 1.99% closing the week at 46,558.47 down from the February 6th closing above 50,000 historically for the first time. The MSCI EAFE Index, which tracks developed overseas stock markets, slid 2.28%.^1,2

Middle East

As the US-Iran war neared the two-week mark, most sectors of the S&P 500 fell. Markets got a volatile start to the week, with stocks falling and oil prices rising as commercial maritime traffic heading out of the Persian Gulf through the Strait of Hormuz remained at a virtual standstill. But stocks rebounded late in the day after the White House said the conflict may end sooner than expected.³

The energy sector bucked the decline as Brent crude, the global benchmark, reached its highest settlement value since August 2022. The climb in crude oil futures came even as the US began allowing countries to buy sanctioned Russian crude already at sea.

Adding to investors' concerns, government data showed Q4 gross domestic product was lower than previously estimated amid weaker consumer spending and a larger downturn in exports. The report showed US real gross domestic product came in at a 0.7% annualized growth rate in the December quarter; Wall Street expected growth to match the initial 1.4% estimate, according to a survey compiled by Bloomberg. 

With all the updates on the Middle East conflict, it was easy to miss other news last week.  Wednesday’s report that the CPI remained unchanged in February over the prior 12 months was good news. But it was the last bit of inflation data before the conflict in the Middle East began. Friday’s Personal Consumption & Expenditures Index, the Fed’s preferred inflation measure, showed that consumer prices remained sticky in January. Investors largely took this report in stride because delayed reports tend to lose their impact with time.^8,9

The financial sector had the largest percentage drop of the week, falling 3.4%, followed by a 3.2% loss in industrials and a 3% decline in consumer discretionary. Health care, materials, real estate, communication services, technology and consumer staples also fell.

Fiserv (FISV) and Global Payments (GPN) were hit hardest in the financial sector, sliding 10% each. FactSet Research Systems (FDS) shares fell 9% as Deutsche Bank cut its price target on the stock to $275 per share from $335.

Top decliners in industrials included Axon Enterprise (AXON), down 14%, and Equifax (EFX), down 11%.

Ulta Beauty (ULTA) was the worst performer in consumer discretionary, tumbling 17%. The beauty products retailer reported fiscal Q4 earnings per share below analysts' mean estimate and forecast fiscal 2026 EPS below Street views.

Just two sectors managed to post weekly gains: Energy climbed 2.1% while utilities eked out a 0.4% increase.

Occidental Petroleum (OXY) had the largest percentage increase in energy, rising 6.8%, followed by a 5.5% gain in APA (APA). Both stocks received price target increases from Barclays.

Next week, Dollar Tree (DLTR), Micron Technology (MU), FedEx (FDX) and Carnival (CCL) are among the companies releasing quarterly results.

Economic data will include the February producer price index as well as February industrial production and pending home sales. Also, the Federal Open Market Committee will hold a two-day meeting concluding with a decision on interest rates.

^{Source: YCharts.com, March 14, 2026. Weekly performance is measured from Monday, March 9 to Friday, March 13. TR = total return for the index, which includes any dividends as well as any other cash distributions during the period. Treasury note yield is expressed in basis points.}

This Week: Key Economic Data

Monday: Industrial Production. Capacity Utilization.

Tuesday: Federal Open Market Committee (FOMC) Meeting—Day 1. Pending Home Sales. Homebuilder Confidence.

Wednesday: FOMC Meeting—Day 2. Producer Price Index (PPI). Factory Orders* (Jan.). FOMC Interest Rate Decision. Fed Chair Press Conference.

Thursday: Weekly Jobless Claims. Wholesale Inventories* (Jan.) New Home Sales* (Jan.).

Friday: Employment Cost Index (Q4).

^{*Indicates federal data release delayed by the government shutdown} 

^{Source: Investors Business Daily - Econoday economic calendar: March 13, 2026. The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to provide accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts are also subject to revision.}

This Week: Companies Reporting Earnings

Wednesday: Micron Technology, Inc. (MU).

Thursday: FedEx Corporation (FDX).

^{Source: Zacks, March 13, 2026. Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your goals, time horizon, and risk tolerance. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule their earnings reports without notice.}

"There is no better compass than compassion."

 - Amanda Gorman

Couples Who Work Together, Tax Together

When a household starts a business, couples learn about the tax responsibilities associated with it. There are some things to consider when working together.

Here are a few items to consider: 

• You should first establish whether you have a partnership business (where both spouses have an equal say in the affairs, services, and capital of the business) or an employee/employer relationship (where one spouse substantially controls management decisions); these relationships have different tax situations.
• If there is an employer-employee relationship, the second spouse (the employee) may be subject to income, Social Security, and Medicare taxes.
• You may need to file the U.S. Return of Partnership Income form if there is a partnership relationship.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS.gov¹⁰

Easy Food Swaps Anyone Can Do

Eating healthier doesn’t have to be hard! You might not have to make any significant changes to your current diet! You can cut the bad stuff by swapping unhealthy options for healthier picks and still enjoy your meal. Here are some of our favorite food swaps:

• Mustard instead of mayonnaise (0 calories vs. 90 calories)
• Scrambled eggs with green onions instead of cheese (170 calories vs. 275 calories)
• Sparkling water instead of soda (0 calories vs. 140 calories)
• Fresh fruit instead of dried fruit (69 calories vs. 325 calories)
• Greek yogurt instead of sour cream (28 calories vs. 60 calories)
• Olive oil spray instead of a tablespoon of olive oil (5 calories vs. 120 calories)
• Corn tortillas instead of flour tortillas (100 calories vs. 280 calories)
• All-bran cereal instead of granola (80 calories vs. 200 calories)
• Goat cheese instead of Brie cheese (70 calories vs. 100 calories)

Many healthy swaps, like these, can help you reduce your caloric intake, consume less sugar, and easily create a more balanced meal. 

Tip adapted from EatThis.com¹¹

As I age, my height changes, but not my importance. Your hand guides me, and I help articulate what you want to say. When we part, I am not important or useful to you. What am I?

Last Week's Riddle: It can be measured despite lacking length, width, or height. What is it?

Answer: Temperature.

Sakriskoy Island, Lofoten Islands, Moskenes municipality, Norway

Footnotes And Sources

<sup>1. WSJ.com, March 13, 2026
2. Investing.com, March 13, 2026
3. CNBC.com, March 9, 2026
4. CNBC.com, March 10, 2026
5. CNBC.com, March 11, 2026
6. WSJ.com, March 12, 2026
7. WSJ.com, March 13, 2026
8. CNBC.com, March 11, 2026
9. WSJ.com, March 13, 2026
10. IRS.gov, June 10, 2025
11. EatThis.com, August 27, 2025</sup>

^{12. MT Newswires, YCharts.com, March 9 - 13, 2026}