Weekly Chartstopper: March 27, 2026

This Week

Once again, developments in the Iran conflict drove markets, and economic data started to capture the impact of the conflict.

In positive news, this week saw negotiations for a ceasefire begin:

• Monday: President Trump posted that the U.S. and Iran “”have had… very good and productive conversations regarding a… resolution of hostilities,” which Iran later denied.
• Tuesday: The U.S. sent a 15-point plan to Iran for a ceasefire, which Iran rejected.
• Wednesday: Iran counters with a five-point plan for a ceasefire, including reparations and Iranian control of the Strait of Hormuz.
• Thursday: President Trump posts that he’s pausing attacks on Iranian power plants for another 10 days to April 6 as “talks are ongoing and… going very well.”

While the sides appear far apart, these early-stage negotiations were seen as something of a positive, helping push Brent oil prices off their high of $119 per barrel to under $115 now.

Those higher oil prices are starting to show up in economic data, with the preliminary March S&P PMIs seeing input and output prices rising for Manufacturing and Services, and companies noting “a hit to demand from the additional uncertainty and cost-of-living impact generated by the conflict.”

Despite these initial negotiations, there’s no end in sight for the conflict, contributing to a 3% drop in the Nasdaq-100® this week, pushing it into correction (at least 10% off its high), and a 5 basis point increase in 10-year Treasury yields to over 4.4%.

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Next Week

Here are the top events I’m watching next week:

• Tuesday: JOLTS Job Openings (Feb.)
• Wednesday: Retail Sales (Feb.), ISM and S&P Manufacturing PMIs (Mar.)
• Thursday: Jobless Claims
• Friday: Nonfarm Jobs Report (Mar.), ISM and S&P Services PMIs (Mar.)