Opening Comment — Thursday, March 26, 2026
DJIA: 46,429.49, up 305.43
S&P 500: 6,591.90, up 35.53
NASDAQ: 21,929.83, up 167.94
Stocks lower before jobless claims data
Stock futures are lower Thursday morning as markets continue to assess developments in the Iran War. Meanwhile, investors are awaiting today’s jobless claims data and a slew of Federal Reserve (Fed) speakers. As of 7:17 AM ET, the Dow is decreasing 0.6%, while the S&P 500 is down 0.7%. The Nasdaq 100 is falling 0.8% relative to fair value on the GLOBEX.
U.S. equities were higher on Wednesday following hopes for a peace deal. Meanwhile, import prices rose more than expected, increasing 1.3% month-over-month (MOM) and 1.3% year-over-year (YOY), while export prices posted a larger than expected gain of 1.5% MOM and increased 3.5% YOY. The Dow was up 0.7%, while the tech-heavy Nasdaq Composite rose 0.8%. The S&P 500 increased 0.5% with nine of 11 sectors finishing in positive territory. The Materials sector was the top performer, rising 2.0%, while the Energy sector was the bottom performer, falling 0.5%.
On the data front, initial jobless claims for the week ending March 21 are expected to come in at 210,000, slightly higher than the prior week’s 205,000, while continuing claims are expected to come in at 1.85 million for the week ending March 14, down from the prior week’s 1.86 million. The Kansas City Fed will release their Manufacturing Survey for March, with the composite index expected to come in at 3, down from the prior month’s 5.
Across the pond, European stocks are lower in mid-day trading as Germany’s consumer confidence declined more than projected. Meanwhile, France’s consumer confidence fell as expected in March, and its manufacturing confidence declined more than forecasted.
Overnight in Asia, stocks were lower as Japan’s Services Producer Price Index accelerated to 2.7% YOY in February, up from 2.6% in the prior month.
In FOREX trading, the U.S. dollar is slightly higher as investors await next week’s U.S. March labor market data.
Over in the commodity pits, West Texas Intermediate (WTI) crude oil is 3.3% higher at $93.29/barrel.
In the metals complex, gold is 1.4% lower at $4,444.75/ounce following a strengthening U.S. dollar.