Money Per Minute For Week Ending March 6, 2026
Every weekend, I recap the “news you can use” of the week – a few quotes from major (and often expensive) financial news sources – so you can stay up-to-date on news that affects your money without spending a dime and in less than a minute.
Here is a summary of what happened this week.
Trump leaves the door open for an expanded US campaign against Iran. What that would mean for the economy. (March 2, MarketWatch)
“From the beginning, we indicated four to five weeks, but we have the ability to go longer than that,” Trump said Monday at a White House event. He said the project is “ahead of schedule.”
An extended campaign could put pressure on the US economy through inflation due to higher oil prices. Faster performance may have less impact on markets.
US Production Grows, Input Costs Rise Ahead of Iran Attack (March 2, Bloomberg)
The Institute for Supply Management’s index of prices paid for manufacturing jumped 11.5 points to 70.5, the highest level since overall inflation has increased in nearly four years.
Figures released on Monday showed responses before US and Israeli airstrikes in Iran this past weekend. The war has stopped everything but halting the movement of oil tankers in the Strait of Hormuz and pushed crude prices up sharply.
Oil Rally Builds as ‘Shock’ of Middle East War Jolts Power (March 3, Bloomberg)
Traffic in the Strait of Hormuz has come to a standstill, and traders are now assessing how long the region’s oil supply can continue to operate as normal without ships entering the vital waterway.
Rising energy prices are already hurting economic growth prospects and central banks’ ability to control inflation.
Global economy faces untold damage even if Iran conflict ends tomorrow, warns energy expert (March 3, MarketWatch)
The war that ends tomorrow will not prevent the problems that will last for several days from the ships that avoid the Strait of Hormuz. Oil-producing countries that cut production will take time to come back online, he said.
“We have never had those problems before. The Strait of Hormuz has never been closed before,” he said.
Oil prices fall as fears about energy supply shocks (March 4, MarketWatch)
Reports that Iranian intelligence had indirect access to the CIA through negotiations helped ease concerns about permanent supply disruptions. Also, Treasury Secretary Scott Bessent said Wednesday during an interview with CNBC that the US government will soon issue a number of measures aimed at stabilizing the oil trade in the Gulf.
The private sector added 63,000 jobs in February, January was revised down to just 11,000, ADP said. (March 4, CNBC)
The majority of employment came from only two sectors: health and construction. Job growth in other sectors was flat or flat.
Pay grew 4.5% for those who stayed in their jobs while wage gains for job changers fell to 6.3%, the smallest gap since ADP began tracking the metric.
Weekly loan demand rose 11% more than last week, as rates hit 4-year low (March 4, CNBC)
The average interest rate on a 30-year fixed rate loan that conforms to the loan balance was unchanged at 6.09%. Home loan refinancing applications increased by 14.3%. Home mortgage applications rose 6.1%.
Claims are futile and Challenger, Gray points to a reduction in layoffs. What about hiring plans? (March 5, MarketWatch)
Initial jobless claims were unchanged at 213,000 in the seven days ended February 28, the government said on Thursday.
A separate report from Challenger, Gray & Christmas found that layoffs announced by American companies fell sharply in February. However, recruitment programs were weak.
Main image: The labor market seems stable, but it’s not something Americans are used to. Layoffs are down – and so is hiring.
US crude hits highest level since June 2025 after Iran says it attacked tanker (March 5, CNBC)
US crude briefly broke $78 per barrel at the start of the session, the highest level since the US and Israel attacked Iran’s nuclear facilities last June. Oil prices are up about 15% this week.
Tanker traffic in the Strait of Hormuz has stalled since the start of the US-Israeli war against Iran, as shipowners worry about the fragile security situation. About 20% of the world’s oil consumption is exported through the Strait.
The US loses 92,000 jobs and the unemployment rate rises to 4.4%. Nurses’ strikes and winter storm Fern hurt the labor market. (March 6, MarketWatch)
Employment in the health care industry, the main source of most new jobs over the past year, fell by 28,000 in February. The decline stemmed from major nurses’ strikes in New York and California, the Bureau of Labor Statistics noted.
Winter storm Fern also disrupted work in some industries, particularly construction. Builders shed 11,000 jobs last month.
Global oil benchmark Brent crude breaks above $90 a barrel amid Iran war, US crude tops $89 (March 6, CNBC)
“There will be no deal with Iran without COMPLETE SURRENDER!,” Trump said on social media.
Qatar’s energy minister Saad al-Kaabi told the Financial Times on Friday that crude prices could reach $150 per barrel in the coming weeks if oil tankers cannot get through the Strait. This “could slow down the global economy,” Kaabi said.
