Another volatile week ended with a surprise from the labor market. The February jobs report showed the U.S. economy lost 92,000 jobs, well below expectations for modest job growth and marking the first notable monthly decline in some time. The unemployment rate edged up to 4.4%, while average hourly earnings rose 0.4% for the month and 3.8% over the past year. Some of the weaknesses were tied to strike activity in the healthcare sector along with declines in federal government and information-related jobs. The report follows other signals from the ADP employment report earlier in the week, which showed private companies added just 63,000 jobs in February, while January’s figure was revised sharply lower to only 11,000 jobs. These metrics continue to reinforce the idea that the labor market looks to be gradually cooling after several years of strong hiring.
Trade policy was also front and center this week as Treasury Secretary Scott Bessent confirmed that the administration plans to move forward with a 15% global tariff rate. This is up from the temporary 10% level that had been in place after earlier tariffs were challenged in court. Officials indicated the move is intended to be temporary while broader trade investigations continue. Secretary Bessent continues to suggest that tariff rates could return to previous levels within roughly five months. While markets generally expect trade policy to remain fluid, the announcement added another layer of uncertainty for global commerce and corporate supply chains.
Energy markets also saw increased volatility as geopolitical tensions in the Middle East continue to develop. Concerns surrounding potential disruptions tied to Iran, pushed crude oil prices higher early in the week (and through Friday) as traders assess the possible impacts on global supply. At the same time, U.S. officials signaled that several announcements may be coming soon aimed at strengthening energy trade and stability across the Gulf region. Developments in energy markets remain important for investors, as swings in oil prices can influence inflation expectations and in turn, the broader market sentiment.
Taken together, the week highlighted several crosscurrents for investors: signs of a cooling labor market, evolving trade policy, and geopolitical developments affecting energy markets. While headlines like these can create short-term volatility, the broader story remains one of an economy that appears to be moderating rather than contracting. It is clear that these types of newsworthy events will continue to remain front and center in the near-term.
Interesting to Note
This weekend marks the return of Daylight-Saving Time in the United States. At 2:00 a.m. on Sunday, March 8, clocks move forward one hour as we “spring ahead.” The practice was first adopted nationally during World War I to conserve energy and make better use of daylight hours. Whether you enjoy the extra evening sunlight or not, it’s a reminder that longer days—and hopefully warmer weather—are on the way.
Looking Ahead
- Inflation Watch: Next week’s Consumer Price Index (CPI) report will offer the next important look at whether inflation continues trending toward the Federal Reserve’s target.
- Federal Reserve Commentary: Markets will continue listening closely to remarks from Fed officials for clues about how policymakers are interpreting the latest labor and inflation data.
- Trade Policy Developments: Investors will watch for additional announcements surrounding tariffs and trade negotiations.
- Energy Markets: Oil prices may remain sensitive to geopolitical developments in the Middle East and any policy updates related to global energy supply.
During periods of uncertainty, it’s important to remember that time in the market has historically mattered more than timing the market. Our focus remains on the long-term strategy and keeping your financial plan moving in the right direction.
Have a nice weekend!
https://www.cnbc.com/2026/03/04/bessent-says-global-15percent-tariff-starts-this-week-move-back-to-prior-rates-within-5-months.html
https://www.cnbc.com/2026/03/04/private-companies-added-63000-jobs-in-february-january-revised-to-just-11000-additions-adp-says.htm
https://www.cnbc.com/2026/03/04/treasury-secretary-bessent-says-us-will-make-series-of-announcements-to-support-oil-trade-in-the-gulf.html
https://www.cnbc.com/2026/03/05/crude-oil-prices-today-iran-war.html
https://www.cnbc.com/2026/03/06/february-2026-jobs-report.html?__source=iosappshare%7Ccom.apple.UIKit.activity.Mail
Christopher E. Wasson, CFP®
President
Mosaic Asset Partners, LLC
1122 Kenilworth Drive, Suite 310
Towson, MD 21204
410.821.0089 fax 410.821.5993
MosaicAssetPartners.com
Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. Mosaic Asset Partners, LLC is not affiliated with Kestra IS or Kestra AS. Investor Disclosures: https://www.kestrafinancial.com/disclosures
The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra IS or Kestra AS. The material is for informational purposes only. It represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results. It is not guaranteed by Kestra IS or Kestra AS for accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions. It should also not be construed as advice meeting the particular investment needs of any investor. Neither the information presented nor any opinion expressed constitutes a solicitation for the purchase or sale of any security.
