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Author Jason Haley

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Oil prices are higher again today after Iran once again closed the Strait of Hormuz, and weekend headlines suggested no deal to end the conflict is imminent.

That said, the response in financial markets is more controlled so far. Treasury yields are up just 1-2 basis points, and S&P 500 futures are down 0.42% an hour before the open. There are no data releases today, but tomorrow we’ll see how consumer spending held up in March via the monthly retail sales report. Beyond that, the calendar is relatively light, and the Fed has entered its communication blackout period ahead of next week’s FOMC meeting. There should still be ample headline noise for financial markets to digest via the Iran conflict.

Jason Haley
President & Chief Investment Officer

DateEventSurveyActualPrior
4/21/2026ADP Weekly Employment Change     —     —39.250k
4/21/2026Philadelphia Fed Non-Manufacturing Activity     —     —-23.9
4/21/2026Retail Sales Advance MoM1.40%     —0.60%
4/21/2026Retail Sales Ex Auto MoM1.40%     —0.50%
4/21/2026Retail Sales Ex Auto and Gas0.20%     —0.40%
4/21/2026Retail Sales Control Group0.20%     —0.50%
4/21/2026Business Inventories0.30%     —-0.10%
4/21/2026Pending Home Sales MoM0.30%     —1.80%
4/21/2026Pending Home Sales NSA YoY     —     —-0.60%
4/22/2026MBA Mortgage Applications     —     —1.80%
4/23/2026Chicago Fed Nat Activity Index     —     —-0.11
4/23/2026Initial Jobless Claims210k     —207k
4/23/2026Initial Claims 4-Wk Moving Avg     —     —209.75k
4/23/2026Continuing Claims1819k     —1818k
4/23/2026S&P Global US Manufacturing PMI52.5     —52.3
4/23/2026S&P Global US Services PMI50.3     —49.8
4/23/2026S&P Global US Composite PMI50.4     —50.3
4/23/2026Kansas City Fed Manf. Activity11     —11
4/24/2026Bloomberg April United States Economic Survey   
4/24/2026U. of Mich. Sentiment48.5     —47.6
4/24/2026U. of Mich. Current Conditions     —     —50.1
4/24/2026U. of Mich. Expectations     —     —46.1
4/24/2026U. of Mich. 1 Yr Inflation     —     —4.80%
4/24/2026U. of Mich. 5-10 Yr Inflation     —     —3.40%
4/24/2026Kansas City Fed Services Activity     —     —15
4/27/2026Dallas Fed Manf. Activity     —     —-0.2

Jason Haley

Chief Investment Officer

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