Layoff announcements in the US rose in March, led by the technology sector as AI investment pushes leaner staffing. Tech firms announced 18,720 cuts, up over 24% year on year, bringing first-quarter layoffs to more than 52,000, the highest since 2023

White House officials say President Trump is expected to reiterate his timeline for ending the war on Iran within two to three weeks in his speech on Wednesday.

Iran Conflict & Geopolitics: Trump Signals War End: Donald Trump announced the Iran war is "winding down" and set a 2-3 week timeline to end operations, claiming objectives are "meeting or exceeding benchmarks." Strait of Hormuz & Ceasefire: Trump stated he would consider a ceasefire only if the Strait of Hormuz is "open, free, and clear"; however, Iran’s Foreign Ministry dismissed these claims as "baseless," insisting on a full end to aggression and security guarantees. Trade Policy: Major Tariff Overhaul: Trump is preparing to revise steel and aluminum tariffs, applying a 25% duty to the full value of finished imports (replacing the current 50% levy on just metal content). Markets & Equities: Relief Rally: U.S. stocks extended gains for a second day as Iran de-escalation hopes lifted sentiment; S&P 500 (+0.72%) and Nasdaq 100 (+1.16%) closed higher. Oil Volatility: Brent crude settled at $101.16/bbl (-2.7%) on ceasefire talks, though traders remain sharply divided, with leveraged oil shorts drawing a record $977M in March. Gold Rebound: Spot gold broke above $4,800/oz in early Asia trading, marking its fifth consecutive day of gains amid ongoing geopolitical uncertainty. Corporate & Technology: SpaceX IPO Move: SpaceX has confidentially filed for an IPO with the SEC, targeting a valuation above $1.75 trillion and a potential listing as early as June 2026. OpenAI Capital Shift: SoftBank executed its first $10B tranche of investment in OpenAI. Intel Buyback: Intel agreed to pay $14.2B to repurchase Apollo’s 49% stake in its Ireland fabrication joint venture. U.S. Economy & Policy: Manufacturing Surge: March ISM Manufacturing PMI hit 52.7 (highest since 2022), but input costs surged to 78.3 due to Strait of Hormuz disruptions, signaling potential inflationary pressure. Labor Market: ADP private payrolls rose by 62,000 in March, exceeding expectations (40,000). DHS Funding: Republican leaders reached a deal to fully fund the Department of Homeland Security (DHS) for the next three years.