Weekly Commentary: Mega forces - why they matter now

Geopolitical risk has escalated in the Middle East. The flare-up of tensions in the region and brief market fallout underscore that mega forces affect returns now. U.S. stocks rose last week on mostly strong Q1 earnings for mega cap tech. The Federal Reserve’s preferred inflation metric rose more than expected in March. This week, we watch U.S. payroll data for signs that immigration is still offsetting adverse demographics. The Federal Reserve is expected to hold rates steady.