Weekly Market Recap
Week ended March 6
Market-moving news
Negative catalysts
Middle Eastern conflict, rising oil prices, and a disappointing monthly jobs report weighed on stocks, and U.S. indexes fell for the second week in a row. The Dow finished down 2.9% on a total return basis, the S&P 500 retreated 2.0%, and the NASDAQ ended 1.2% lower.
Oil price spike
Escalating military conflict rippled throughout the Middle East, pushing oil prices to the highest levels since September 2023. With oil shipments in the Persian Gulf’s Strait of Hormuz sharply curtailed, U.S. crude was trading around $91 per barrel late Friday afternoon, up from $67 a week earlier.
Jobs setback
February’s net loss of 92,000 jobs came as a surprise, as most economists had forecast that Friday’s report would show a gain of around 50,000. The setback marked the third monthly jobs decline over the past five months, and initial figures for December and January were revised downward by a combined 69,000 jobs.
International sell-off
Ex-U.S. stock indexes sustained far bigger weekly declines than their U.S. counterparts. An ex-U.S. developed-market benchmark, the MSCI EAFE Index, and an emerging-markets counterpart, the MSCI Emerging Markets Index, were both down nearly 7% for the week.
Yield reversal
Prices of U.S. government bonds fell, sending yields higher, as rising oil prices added to recent inflationary pressures. On Friday, the yield of the 10-year Treasury closed at 4.15%, up from 3.96% the previous week, when yields had tumbled to the lowest level in more than four months.
VIX jumps
An index that tracks investors’ expectations of short-term U.S. stock market volatility climbed on Friday to the highest level since last spring’s tariff-related surge in volatility. On Friday afternoon, the Cboe Volatility Index closed at 29.5, up 48% from its closing level of the previous week.
Inside Q4 earnings
Companies in the S&P 500 posted an average earnings gain of 14.0% over the same quarter a year earlier, according to FactSet data from the recently concluded fourth-quarter earnings season. That result marked the fifth consecutive quarter of double-digit growth. Information technology posted a 33.0% earnings gain, the highest among all 11 sectors.
Inflation readings ahead
A Consumer Price Index report scheduled for release on Wednesday and a Personal Consumption Expenditures Price Index reading due on Friday could offer some clarity about inflation trends after recently divergent results. The most recent monthly CPI report showed that inflation eased to a 2.4% annual rate, while the PCE report showed a 2.9% rate, with prices rising at the fastest pace in nearly a year.
The week ahead: March 9-13
| Monday | Tuesday | Wednesday | Thursday | Friday | ||||
|
|
|
|
|
Capital Market Performance Report
Detailed weekly data on equities and fixed income—factors, fundamentals, styles/sizes, sectors/industries/stocks
Market Intelligence weekly
For financial professionals who want to stay up to date on the latest economic indicators and market news, get our latest analysis on Fed and central bank monetary policy moves, PMI data, corporate earnings, and more.
Investment returns
Equities
U.S. equity size and style total returns as of 3/6/26 (%)
1 week
| -3.4 | -2.1 | -0.7 | Large | |
| -4.0 | -3.6 | -2.3 | Medium | |
| -3.6 | -4.0 | -4.5 | Small | |
| Value | Core | Growth | ||
YTD
| 3.6 | -1.2 | -5.5 | Large | |
| 4.8 | 3.1 | -2.4 | Medium | |
| 5.0 | 1.9 | -0.9 | Small | |
| Value | Core | Growth | ||
Index/market total returns as of 3/6/26 (%)
| Close | 1 week | YTD | |
|---|---|---|---|
| Dow Jones Industrial Average | 47,501.6 | -2.9 | -0.9 |
| NASDAQ Composite Index | 22,387.7 | -1.2 | -3.6 |
| S&P 500 Index | 6,740.0 | -2.0 | -1.3 |
| MSCI EAFE Index | 2,964.3 | -6.7 | 2.7 |
| Cboe Volatility Index | 29.5 | 48.2 | 96.7 |
International/developed (%)
| 1 week | YTD | |
|---|---|---|
| EAFE | -6.7 | 2.7 |
| Europe | -7.3 | 0.0 |
| France | -8.6 | -2.8 |
| Germany | -8.7 | -4.5 |
| Italy | -8.4 | -3.1 |
| Japan | -6.5 | 8.2 |
| Spain | -8.5 | -2.9 |
| Switzerland | -7.5 | 0.5 |
| U.K. | -6.1 | 3.8 |
Emerging markets (%)
| 1 week | YTD | |
|---|---|---|
| EM | -6.9 | 7.0 |
| Brazil | -7.1 | 12.8 |
| China | -3.0 | -4.3 |
| India | -3.6 | -7.2 |
| Indonesia | -8.2 | -13.5 |
| Korea | -13.4 | 35.4 |
| Mexico | -9.0 | 7.0 |
| Russia | #N/A | #N/A |
| Taiwan | -6.8 | 16.8 |
S&P 500 sectors (%)
| 1 week | YTD | |
|---|---|---|
| S&P 500 Index | -2.0 | -1.3 |
| Communication services | -2.1 | -1.7 |
| Consumer discretionary | -1.4 | -5.1 |
| Consumer staples | -4.8 | 10.7 |
| Energy | 1.0 | 26.5 |
| Financials | -1.7 | -7.6 |
| Healthcare | -4.6 | -1.3 |
| Industrials | -4.1 | 9.6 |
| Information tech | -0.4 | -5.8 |
| Materials | -7.1 | 9.5 |
| Real estate | -2.3 | 8.9 |
| Utilities | -2.1 | 9.5 |
Fixed income, currencies, and commodities
U.S. fixed-income style total returns as of 3/6/26 (%)
1 week
| -0.1 | -0.6 | -2.1 | High | Credit quality |
| -0.3 | -0.8 | -1.5 | Medium | |
| -0.2 | -0.4 | -1.7 | Low | |
| Limited | Moderate | Extensive | ||
| Interest-rate sensitivity | ||||
YTD
| 0.5 | 0.5 | 1.5 | High | Credit quality |
| 0.5 | 0.7 | 0.5 | Medium | |
| 0.3 | 0.2 | 0.5 | Low | |
| Limited | Moderate | Extensive | ||
| Interest-rate sensitivity | ||||
U.S. Treasury bond yields as of 3/6/26 (%)
| END OF WEEK | PRIOR YEAR END | YTD CHANGE (BPS) | |
|---|---|---|---|
| 2 Yr | 3.56 | 3.48 | 8 |
| 10 Yr | 4.15 | 4.16 | -1 |
| 30 Yr | 4.77 | 4.84 | -7 |
| 2-10 spread | 58 | 68 | -10 |
| 10-30 spread | 62 | 68 | -6 |
U.S. bond sector total returns (%)
| 1 week | YTD | |
|---|---|---|
| Aggregate | -1.0 | 0.8 |
| Bank loans | 0.5 | -1.4 |
| Convertible | -2.9 | 3.1 |
| Corporate | -1.0 | 0.4 |
| High yield | -0.4 | 0.2 |
| MBS | -1.0 | 1.0 |
| Municipal | -0.8 | 1.4 |
| Preferreds | -0.4 | 1.7 |
| TIPS | -0.4 | 1.2 |
| Treasury | -1.0 | 0.7 |
Global bond total returns (%)
| 1 week | YTD | |
|---|---|---|
| EM Local | -4.4 | 0.3 |
| EMD USD | -1.2 | 0.9 |
| Global Agg | -1.8 | 0.3 |
| Global Agg Ex-U.S. | -2.2 | 0.0 |
| Multiverse | -1.7 | 0.3 |
Commodities (%)
| 1 week | YTD | |
|---|---|---|
| BBG Com Ind | 8.1 | 20.7 |
| Oil (WTI) | 30.9 | 54.8 |
| Gold | -1.6 | 18.7 |
Currencies (USD) (%)
| 1 week | YTD | |
|---|---|---|
| EM FX | #N/A | #N/A |
| AUD | -1.7 | 5.0 |
| CAD | 0.1 | 0.6 |
| CHF | -1.4 | 1.6 |
| EUR | -1.9 | -1.4 |
| GBP | -0.6 | -0.7 |
| JPY | -0.9 | -0.5 |
GDP
Jobs
Inflation
Ex-U.S.
Regions/countries
| GDP Growth (%) annualized | Inflation Rate (%) CPI | Unemployment Rate (%) | 10-Year Government Bond (%) | Sovereign Credit Rating | |
|---|---|---|---|---|---|
| Eurozone | 1.2 | 1.9 | 6.1 | _ | _ |
| China | 4.5 | 0.2 | 5.1 | 1.80 | A+ |
| Germany | 0.4 | 1.9 | 6.3 | 2.86 | AAA |
| Japan | 0.1 | 1.5 | 2.7 | 2.17 | A+ |
| U.K. | 1.0 | 3.0 | 5.2 | 4.57 | AA |
Fund industry overview
Total net flows: open-end funds and ETFs as of 1/31/26 ($B)
| MONTH | 12 Month | ASSETS | |
|---|---|---|---|
| U.S. Equity | -33.5 | -69.9 | 18,248.6 |
| Sector Equity | 29.5 | 31.4 | 1,767.0 |
| Allocation | -3.5 | -60.2 | 1,581.9 |
| International Equity | 35.9 | 87.3 | 5,585.3 |
| Alternative | 4.2 | 16.2 | 132.6 |
| Commodities | 7.8 | 63.2 | 433.6 |
| Taxable Bond | 90.0 | 584.7 | 6,634.0 |
| Municipal Bond | 14.6 | 70.2 | 1,023.5 |
| Total all long-term funds | 145.3 | 760.2 | 36,093.1 |
Leading Morningstar fund categories by monthly net flows as of 1/31/26 ($B)
| MONTH | 12 Month | ASSETS | |
|---|---|---|---|
| Intermediate Core Bond | 27.2 | 129.8 | 1,637.7 |
| Diversified Emerging Mkts | 16.3 | 19.4 | 916.5 |
| Multisector Bond | 10.9 | 82.7 | 451.1 |
| Foreign Large Blend | 9.0 | 87.1 | 2,347.1 |
| Intermediate Core-Plus Bond | 8.6 | 46.7 | 921.4 |
Lagging Morningstar fund categories by monthly net flows as of 1/31/26 ($B)
| MONTH | 12 Month | ASSETS | |
|---|---|---|---|
| Large Growth | -12.6 | -70.0 | 3,577.6 |
| Large Value | -9.4 | -28.1 | 2,343.3 |
| Trading--Leveraged Equity | -8.3 | -21.2 | 131.4 |
| Small Blend | -6.9 | -35.2 | 681.9 |
| Moderate Allocation | -4.8 | -40.7 | 850.5 |
Important disclosures
Important disclosures
Unless otherwise noted, all data is from FactSet.
The data provided is for informational purposes only and is not an endorsement of any security, mutual fund, sector, or index. This does not illustrate the performance of any John Hancock fund. The information contained here is not guaranteed as to accuracy or completeness. All economic and performance information is historical and does not guarantee future results.
The Dow Jones Industrial Average is a price-weighted index comprising 30 widely traded blue chip U.S. common stocks. The NASDAQ Composite Index is a market-value-weighted index of all common stocks listed on the NASDAQ stock exchange. The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States. The MSCI Europe, Australasia, and Far East (EAFE) Index tracks the performance of publicly traded large- and mid-cap stocks of companies in those regions. The MSCI Emerging Markets Index tracks the performance of large- and mid-cap stocks in emerging markets. The Cboe Volatility Index (VIX) shows the market’s expectation of 30-day volatility and is constructed using the implied volatilities of a wide range of S&P 500 Index options. Weekly and year-to-date figures for the VIX show percentage changes, not investment returns. The Russell 1000 Growth Index tracks the performance of large-cap companies in the United States with higher price-to-book ratios and higher forecasted growth values. The Russell 1000 Value Index tracks the performance of large-cap companies in the United States with lower price-to-book ratios and lower forecasted growth values. It is not possible to invest directly in an index. Total returns are calculated gross of foreign withholding tax on dividends.
The Treasury yield curve is derived from available U.S. Treasury securities trading in the market and is provided directly by the U.S. Federal Reserve. The spread measures the difference in yield between two government securities. A normal (positive) yield curve occurs when longer-term rates are higher than shorter-term rates. The opposite holds true for an inverted yield curve. Year-to-date changes in U.S. Treasury bond yields are shown in basis points (BPS). One hundred basis points equals one percent.
Oil prices are represented by West Texas Intermediate (WTI) crude oil.
The G20 countries comprise a mix of the world’s largest advanced and emerging economies, representing about two-thirds of the world’s population, 85% of global gross domestic product, and over 75% of global trade.
Get Weekly Market Recap delivered to your inbox every Monday morning
Financial professionals: Sign up to receive an email each Monday morning with top market news, data, and a calendar of the new week’s economic reports. Set your notifications preferences from the settings tab of your dashboard.
