This Weekly Financial Markets Update reviews the top market headlines: Steady Consumer Inflation in February, Existing Home Sales Stabilize, Oil Volatility Spikes Amid Iran Conflict
  • CPI rose at a 2.4% annual pace in February
  • Existing home sales rose 1.7% in February
  • Futures contract prices for Brent crude oil have risen 72% year-to-date

Top Three Market Headlines

Steady Consumer Inflation in February: The U.S. Bureau of Labor Statistics reported last week that the Consumer Price Index (CPI) rose 0.3% in February, slightly faster than January's 0.2% pace, while the year-over-year rate held steady at 2.4%. Inflationary pressures were driven primarily by energy and food, which rose by 0.6% and 0.4%, respectively, over the month. Core CPI, which excludes food and energy, increased 0.2%, down modestly from 0.3% in January, though the annual rate also remained unchanged from the prior month at 2.5%.

Existing Home Sales Stabilize: Sales of previously owned homes in the U.S. rose to a seasonally adjusted annualized rate (SAAR) of 4.09 million units in February, according to the National Association of Realtors (NAR). This was a 1.7% increase from January, when sales had declined by 8.4% from the strongest pace in nearly three years in December. Overall, the rate of sales over the trailing six months through January averaged 4.11 million, the highest since April of last year. The NAR's Chief Economist stated that housing affordability is improving, citing the decline in mortgage rates over the past year.

Oil Volatility Spikes Amid Iran Conflict: Global oil prices experienced extreme volatility last week amid the on-going joint U.S.-Israel military operations against Iran. On Monday, front-month futures contract prices for Brent crude exploded higher by 29% intraday, nearly touching $120 per barrel, before plummeting by day's end to settle at $98.96, up 7% on the day. Prices then dropped more than 11% on Tuesday before rising through the end of the week, settling at $103.14, on growing fears about the closure of the Strait of Hormuz, through which approximately 25% of the world's seaborne oil trade transits. Since the start of the year, Brent crude prices have risen 72%.

As of March 13, 2025 Week Quarter-To-Date Year-To-Date One-Year
MSCI All Country World -1.74% -1.31% -1.31% 23.35%
S&P 500 -1.56% -2.86% -2.86% 21.65%
Russell 2000 -1.75% 0.14% 0.14% 26.08%
MSCI EAFE -2.02% 0.61% 0.61% 21.79%
MSCI Emerging Markets -1.96% 4.84% 4.84% 35.71%
FTSE NAREIT Equity -1.18% 7.44% 7.44% 12.88%
Bloomberg Commodity 2.70% 23.91% 23.91% 33.87%
Bloomberg U.S. Aggregate -0.92% -0.16% -0.16% 4.71%

U.S. Bureau of Labor Statistics 3/11/26, Nat'l Assoc. of Realtors 3/10/26, Int'l Energy Agency, FactSet. Data from Morningstar Direct and FactSet. Returns for periods greater than one year are annualized. Investment advisory services are offered by Gallagher Fiduciary Advisors, LLC ("GFA"), an SEC registered investment advisor that provides retirement, investment advisory, discretionary and independent fiduciary services. Registration as an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the SEC. GFA is a limited liability company with Gallagher Benefit Services, Inc. as its single member. GFA may pay referral fees or other remuneration to employees of Arthur J. Gallagher & Co. or its affiliates or to independent contractors; such payments do not change our fee. Neither Arthur J. Gallagher & Co., GFA, their affiliates nor representatives provide accounting, legal or tax advice. GFA does not express an investment opinion regarding any specific commodity, sector or individual security. Unless otherwise expressly noted, the contents of this communication do not constitute securities or investment advice, nor should this communication be construed as an opinion regarding the appropriateness of any investment. The information provided cannot take into account all the various factors that may affect your particular situation, therefore you should consult your GFA consultant before acting upon any information or recommendation contained herein to discuss the suitability of the information/recommendation for your specific situation.