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February PCE Inflation Eases to 2.3% — Core Holds at 2.6%, Fed Stays Patient

The Bureau of Economic Analysis released February's Personal Consumption Expenditures price index Friday, showing headline PCE inflation eased to 2.3% year-over-year from 2.5% in January while core PCE held steady at 2.6%. Both readings landed in line with consensus, reinforcing a Federal Reserve on hold through mid-year as incoming auto tariff risks threaten to stall the final mile of disinflation.

S&P 500 Posts Slim Q1 2026 Gain as Tariff Uncertainty and Fed Patience Cap Upside

The S&P 500 closed out Q1 2026 with a modest gain of approximately 2.1%, masking a turbulent quarter defined by persistent tariff escalation, a hawkish-leaning Federal Reserve, and wide sector-level dispersion. Technology and financials led, while consumer discretionary and materials lagged on trade policy headwinds. The quarter ends with investors cautiously positioned ahead of what promises to be a pivotal Q1 earnings season.

Consumer Confidence Hits Lowest Since 2020 as Inflation Expectations Surge; Recession Watch Intensifies

The Conference Board's Consumer Confidence Index fell sharply to 88.3 in March, its lowest reading since the pandemic lows of 2020, as one-year inflation expectations jumped to 5.8% — the highest since 2022 — in a combination that is forcing economists to sharply revise their recession probability models and raising fresh questions about the durability of U.S. consumer spending.

U.S. Economy Entered 2026 at Weakest Pace Since Pandemic as Q4 GDP Revised Down to 0.7%, Raising Stagflation Fears

The U.S. Bureau of Economic Analysis revised Q4 2025 GDP growth sharply lower to a 0.7% annualized rate — half the government's initial estimate and well below economists' 1.4% forecast — painting a troubling portrait of an economy that was already weakening before the Iran war erupted and sent oil prices soaring. The data, combined with a January job market that shed 92,000 positions and lingering above-3% inflation, has amplified stagflation fears ahead of a critical Federal Reserve meeting.

FDA's Vinay Prasad to Exit Biologics Post in April, Sending Biotech Stocks Sharply Higher

The announced departure of Dr. Vinay Prasad, director of the FDA's Center for Biologics Evaluation and Research, triggered a significant rally in biotech equities Monday, with uniQure surging more than 31% in premarket trading. Investors interpreted the news as a signal that the agency may adopt a more predictable and industry-friendly regulatory posture for vaccines, gene therapies, and rare disease treatments.

Wall Street Volatility Spikes as Stagflation Fears Grip Investors

Markets are grappling with a potentially dangerous combination of slowing economic growth and rising energy costs. Investors are increasingly worried that the U.S. economy could face stagflation, a scenario where inflation remains elevated even as growth weakens. The outlook has triggered sharp moves across equities, commodities and bond markets as traders reposition portfolios to navigate an uncertain macroeconomic environment.

Gilead Sciences to Acquire Arcellx for $7.8 Billion in Major CAR-T Cell Therapy Bet

Gilead Sciences announced Monday it will acquire Arcellx for $115 per share in cash plus a contingent value right of $5 per share, representing an implied equity value of $7.8 billion and an 87% premium to Arcellx's Friday closing price. The deal centers on anito-cel, an investigational BCMA-directed CAR-T therapy for relapsed or refractory multiple myeloma that has already received FDA acceptance of its Biologics License Application, with a regulatory decision expected by December 23, 2026.

U.S. Stocks Rally Led by Tech as Major Indexes Close Higher

U.S. stock markets closed higher Wednesday with the S&P 500, Dow Jones Industrial Average, and Nasdaq all posting gains as Nvidia surged following news of a major AI chip partnership. Investors balanced optimism over tech leadership against stronger economic data and rising Treasury yields in a session that reflected both risk appetite and macro caution.

Stocks Slip Before the Open as Geopolitical and Economic Concerns Surface

U.S. equity futures softened in early trading as investors weigh geopolitical risks, including tensions in the Middle East, alongside incoming economic data and corporate earnings risks. The cautious tone ahead of the open reflects investor sensitivity to global volatility and macroeconomic indicators as markets try to gauge the near-term direction for stocks.