At the end of each week, I recap the week’s “news you can use” – a few quotes from major (and often expensive) financial news sources – so you can stay up to date on the news that impacts your money without spending a dime and in less than a minute.
Here’s an overview of what happened this week.
Trump has left the door open to an expanded US campaign against Iran. What could this mean for the economy? (March 2, MarketWatch)
“From the beginning, we anticipated four to five weeks, but we have the ability to go much longer than that,” Trump said at a White House ceremony on Monday. He said the operation was “ahead of schedule”.
An extended campaign could put pressure on the US economy through inflation as a result of higher oil prices. Quicker action may have less impact on markets.
US manufacturing increased before Iran attack, input costs increased (March 2, Bloomberg)
The Institute for Supply Management’s gauge of prices paid for manufacturing inputs rose 11.5 points to 70.5, the highest level since overall inflation peaked nearly four years ago.
The figures released on Monday reflect earlier reactions to US and Israeli air strikes on Iran last weekend. The war has brought oil tanker traffic through the Strait of Hormuz to a near halt and crude oil prices have risen sharply.
Oil rally jolts energy of ‘shocking’ Middle East war (March 3, Bloomberg)
Traffic through the Strait of Hormuz is almost completely halted, and traders are now assessing how long the region’s oil assets can continue operating normally without ships entering the vital waterway.
Rising energy prices are already hurting economic growth prospects and the ability of central banks to keep inflation under control.
This energy-industry expert warns that the global economy faces unprecedented damage even if the Iran conflict ends tomorrow (March 3, MarketWatch)
The war ending tomorrow will not prevent obstacles that will take days to remove from ships passing through the Strait of Hormuz. He said oil producing countries that have cut production will take time to get back online.
“We have never had a problem like this before. The Strait of Hormuz has never been closed before,” he said.
Oil prices fell as concerns over energy supply eased (March 4, MarketWatch)
Reports that Iranian intelligence has indirectly reached out to the CIA for negotiations have helped ease concerns about permanent supply disruptions. Additionally, Treasury Secretary Scott Besant said during an interview with CNBC on Wednesday that the US government will soon take a number of measures aimed at stabilizing oil trade in the Gulf.
ADP said private companies added 63,000 jobs in February, revising this to just 11,000 in January. (March 4, CNBC)
Most of the hiring took place in just two sectors: health services and construction. Job growth in other sectors was either flat or lower.
Wages for those who stayed in their jobs increased by 4.5%, while the wage gain for those who changed jobs shrank to 6.3%, the smallest difference since ADP began tracking the metric.
Weekly mortgage demand surged 11% higher last week as rates near 4-year low (March 4, CNBC)
The average contract interest rate for a 30-year fixed rate mortgage with a conforming loan balance was unchanged at 6.09%. Applications for home loan refinance increased by 14.3%. Applications for mortgages to buy a home increased by 6.1%.
Jobless claims and Challenger, Gray point to declining layoffs. What about placement plans? (March 5, MarketWatch)
The government said Thursday that initial jobless claims were unchanged at 213,000 in the seven days ended Feb. 28.
A separate report from Challenger, Gray & Christmas found that layoffs announced by US companies declined sharply in February. However, recruitment plans were also weak.
Big picture: The labor market appears to be stable, but Americans are not used to it. Layoffs are down – and hiring is down, too.
US crude oil hits highest level since June 2025 after Iran attacks tanker (March 5, CNBC)
At the beginning of the session, US crude oil prices briefly dropped below $78 a barrel, the highest level since the US and Israel attacked Iran’s nuclear facilities last June. Oil prices have increased by about 15% this week.
Tanker traffic through the Strait of Hormuz has ground to a halt since the start of the US-Israeli war against Iran, as shipowners are concerned about the unstable security situation. About 20% of global oil consumption is exported through the strait.
The US lost 92,000 jobs and the unemployment rate rose to 4.4%. The nurses’ strike and winter storm Fern harmed the labor market. (March 6, MarketWatch)
Employment in the health care industry, the main source of most new jobs over the past year, fell by 28,000 in February. The Bureau of Labor Statistics noted that this decline was due to large nurses’ strikes in New York and California.
Winter Storm Fern also affected employment in some industries, particularly construction. Builders shed 11,000 jobs last month.
Global oil benchmark Brent crude rises above $90 per barrel amid Iran war, US crude above $89 (March 6, CNBC)
Trump said in a social media post, “There will be no deal with Iran except unconditional surrender!”
Qatar’s Energy Minister Saad al-Kaabi told The Financial Times on Friday that crude oil prices could reach $150 a barrel in the coming weeks if oil tankers are unable to pass through the strait. “This could bring down world economies,” Kabi said.