| Another volatile week unfolded as rapid developments in the Middle East and public comments from leaders on the conflict see-sawed markets, leaving investors struggling to keep up with updates. The Standard & Poor’s 500 Index lost 1.89 percent, while the Nasdaq Composite Index fell 2.07 percent. The Dow Jones Industrial Average declined 2.11 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, dropped 2.01 percent. Under Pressure Stocks rebounded to start the week while oil prices eased. Investors kept one eye on potential bargains and the other on the Middle East conflict. Reports of a coalition of countries possibly joining to escort tankers out of the Persian Gulf also gave investors something to cheer. Stocks dropped at Tuesday’s opening bell, but mostly recovered after word spread that a group of countries, including the U.S., were considering a coordinated release of strategic oil reserves to counter supply disruptions. Markets generally went sideways midweek as news that the Consumer Price Index (CPI) held steady last month buoyed spirits. Stocks continued their rebound as investors cautiously awaited more developments in the conflict. Markets largely looked past attacks on tanker ships in and around the Strait of Hormuz, through which one out of every five barrels of the world’s oil exports pass. An unexpectedly warm wholesale inflation reading and the Fed’s decision to hold interest rates steady contributed to pressure on stock prices. Stocks continued their slide on Thursday, albeit at a slower pace, as optimism that the Strait of Hormuz would reopen soon began to wane. However, markets managed to curb losses in a late-day relief rally. Stocks opened lower on the final trading day of the week but stabilized midday. However, after Iraq declared force majeure on all foreign-owned oilfields later in the session, stocks came under pressure again as the week closed out. |
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| Source: YCharts.com, March 21, 2026. Weekly performance is measured from Monday, March 16, to Friday, March 20. 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. |
Fed's Dot Plot The Federal Reserve held the Fed funds rate steady at the current 3.5 to 3.75 percent target range. In his press conference, Fed Chair Powell said inflation wasn’t declining as much as policymakers had hoped or projected. The Fed’s “dot plot” (voting members’ medium- to long-term projections on GDP, inflation, and employment) suggests that an adjustment to rates before year-end may still be on the table. |
This Week: Key Economic Data Monday: Construction Spending* (Jan). Tuesday: Productivity* (Q4, revised). PMI—Services. PMI— Manufacturing. Wednesday: Import Prices. Thursday: Weekly Jobless Claims. Friday: Consumer Sentiment (final). *Indicates federal data release delayed by the government shutdown Source: Investors Business Daily - Econoday economic calendar: March 20, 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: Cintas Corporation (CTAS). Thursday: Carnival Corporation (CCL) Source: Zacks, March 20, 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. |
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Errors to Avoid When Filing Your Extended Tax Return If you file an extension of your tax return, it’s essential to avoid the common errors described below to submit a complete and accurate tax return: 1. Missing or inaccurate Social Security number (SSN): Make sure your return has your correct SSN, matching what is on your Social Security card. 2. Misspelled names: This may be a simple matter to look for, but mistakes happen. If you use a name other than the one on your Social Security card, make sure you use the name on the card. 3. Filing status: Claiming the wrong filing status can invalidate your return. Choose the correct option (electronic filing software can prevent mistakes). The interactive tax assistant tool can also help to determine your filing status and any relevant credits you should (or should not) claim. 4. Math errors: Simple addition and subtraction mistakes can delay your return. Consider using electronic filing software that does the math automatically to avoid mistakes. 5. Incorrect bank account information: If you opt to receive your refund via direct deposit, provide the correct bank account information. Giving an incorrect account number can delay your refund even further. 6. Unsigned forms: Lastly, you should double-check that all sections of your forms are signed. Missing signatures can delay your return. 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.gov |
| Footnotes and Sources 1. WSJ.com, March 20, 2026 2. Investing.com, March 20, 2026 3. CNBC.com, March 16, 2026 4. CNBC.com, March 17, 2026 5. WSJ.com, March 18, 2026 6. CNBC.com, March 19, 2026 7. CNBC.com, March 19, 2026 8. WSJ.com, March 18, 2026 9. IRS.gov, September 24, 2025 10. SilverSneakers.com, August 27, 202 |
| Dave Fischesser dave@fischfinancial.com 630-346-3302 Fisch Financial http://www.fischfinancial.com/ |