Daily Rundown

April 1, 2026

Chart of the Day

Number of the Day

21.5 - Share of consumer confidence survey respondents characterizing jobs as "hard to get" in March, the highest in more than five years

Quote of the Day

"With inflation already running hot, now is not the time to assume that the inflation from higher oil prices will be transitory." - Kansas City Fed President Jeffrey Schmid

Tuesday's Highlights

Consumer confidence (March) improved to 91.8 from a prior 91.0 despite a drop in expectations.

Job openings (February) fell by 358,000 to 6.9 million. The hire and quit rates were both lower.

The Case-Shiller home price index (January) rose by 0.2 percent on the month and 1.2 percent year-over-year.

Quick Commentary

The labor market continues to show signs of softening despite an economy that remains resilient more broadly. Even after the exogenous shock of the conflict in the Middle East runs its course, the expansion will still be at risk from a longstanding endogenous decline.

Today's Highlights

ISM manufacturing survey

ADP employment

Retail sales

Business inventories

Mortgage applications

Daily Trivia

What state's schoolchildren are taught the "5 C's" (copper, cattle, cotton, citrus, and climate) as the historical drivers of the state economy?

(Tuesday's Question: Which state is known as the "Silicon Prairie" for its legacy telecommunications firms as well as its newer digital marketplace companies? Answer: Illinois)