March 4, 2026

Key points Reports of possible contacts between Iran and the United States lift financial markets after two days of sharp declines. President Trump offers insurance and military escort for ships transiting the Strait of Hormuz. U.S. private job creation showed improvement in February. China’s manufacturing and services sectors remain in contraction territory for a second consecutive month. The private sector raises Mexico’s 2026 growth forecast to 1.46%. Later today, the U.S. February ISM services index will be released (9 a.m.), followed by the Federal Reserve’s Beige Book (1 p.m.).