Advisors on This Week’s Show

(with Max Hoelzl, Joel Dresang, engineered by Jason Scuglik)

Week in Review (March 23-27, 2026)

Significant Economic Indicators & Reports

Monday

A drop in residential building in January led a slight decline in U.S. construction spending. The Commerce Department reported a 0.3% drop in overall building expenditures. Housing, which accounts for more than 40% of all construction spending, fell nearly 1%, while manufacturing — about 9% of expenditures — declined 2%. Compared to January 2025, overall construction spending rose 1%, with housing up 2% and manufacturing down 15%.

Tuesday

The Bureau of Labor Statistics revised fourth quarter worker productivity growth to a 1.8% annual rate from a previous estimate of 2.8%. Output weakened to a 1.5% pace from an earlier estimate of 2.6%. In both estimates, the number of hours worked dropped 0.2%. Year to year, productivity rose 2.1% from 2024 to 2025. That was on pace with the current business cycle, which started at the end of 2019. The all-time average since 1947 is 2.2%. Productivity in the previous cycle, which included the Great Recession, averaged 1.5%.

Wednesday

No major announcements

Thursday

The four-week moving average for initial unemployment claims fell for the fourth week in a row and the fifth time in six weeks. Data from the Labor Department shows the moving average down 42% from its historic average since 1967. The lack of layoffs suggests continued employer reluctance to let workers go in a tight job market. Total jobless claims dropped 1.9% from the week before to 2.1 million, which was 0.8% behind the same time in 2025.

Friday

Consumer sentiment declined nearly 6% in March as the U.S.-Israel war in Iran lowered outlooks while raising expectations for inflation. Sentiment was 6.5% lower than in March 2025. Consumer forecasts for inflation rose the most since the announcement of tariff increases last April. Economists see sentiment as an indication of consumer spending, which drives about 70% of U.S. economic activity. According to the University of Michigan survey, consumers expect effects from the war to be worse in the short run, but that’s subject to how long the war lasts and the impact of higher oil prices. About one-third of the survey came before the war began.

Market Closings for the Week

Nasdaq – 20948, down 699 points or 3.2%
S&P 500 – 6369, down 138 points or 2.1%
Dow Jones Industrial Average – 45167, down 410 points or 0.9%
10-year U.S. Treasury Note – 4.44%, up 0.05 point

Money Talk Podcast, Friday March 27, 2026