Iran-Oman Hormuz protocol calms stocks after early selloff
Markets swung as traders weighed Iran war risks and shipping signals in the Strait of Hormuz, with oil holding above $110 a barrel.
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Ben Carter
Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
FAO food-price index rises on higher energy and freight costs
FAO’s food index averaged 128.5 in March, up 2.4%, as higher energy and "freight costs" pushed vegetable oil up 5% and sugar up 7%.
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Wall Street prices the Iran war headline by headline, NYT says
Jeff Sommer says the range of outcomes stays "staggeringly broad" as Wall Street prices the Iran war headline by headline amid Trump signals on escalation and talks.
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March jobs report pushes Fed rate cuts out on 178,000 payroll gain
Economists called it “too early” to show the Iran war’s oil shock, with crude up more than 50% since the conflict began.
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Trump administration sues Illinois over prediction-market oversight
The Trump administration and the CFTC sued Illinois, Connecticut and Arizona to block state gambling oversight of prediction markets like Kalshi and Polymarket.
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Economy Watch
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Mortgage rates jump to 6.38% as Iran conflict lifts Treasury yields
Mortgage applications fell 10.5% last week as the average 30-year fixed rate rose to 6.38% and the 10-year Treasury yield surged.
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Consumer sentiment drops to 53.3 as gas prices surge
Retail gas jumped about $1 in a month to roughly $3.98 a gallon, and consumers lifted 1-year inflation expectations to 3.8%.
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