NEW YORK, March 28, 2026 — Markets enter a pivotal but shortened week — just four trading sessions before a Good Friday closure — carrying the weight of a five-week losing streak, a geopolitical energy shock that has driven Brent crude above $110 per barrel, and a labour market whose March verdict will land on a day when Wall Street’s exchanges are dark. The earnings calendar is thin but surgically important, led by Nike’s fiscal third-quarter report on Tuesday evening, while the macro calendar delivers ADP private payrolls, ISM Manufacturing PMI, and the Bureau of Labor Statistics’ Nonfarm Payrolls release — all in a four-day window that closes on a holiday.
Earnings to watch
The headline earnings event of the week is Nike (NKE), which will report its 2026 fiscal third-quarter earnings results after the market closes on March 31. Analysts’ consensus estimates suggest Nike will report earnings per share of $0.29 on revenue of $11.22 billion. EPS is expected to come in roughly 45% below the same quarter last year. The print will be closely scrutinised for signs of traction in CEO Elliott Hill’s turnaround plan amid compounding headwinds: channel checks show soft global sales momentum through March, and tariffs are estimated to have a potential impact of roughly $1.5 billion on Nike’s cost structure. The stock is down 60% over the past five years and 14% over the past decade. For a more detailed look at the Nike setup ahead of Tuesday’s close, see the full Nike earnings preview at PreMarket Daily.
Tuesday, March 31 — Before the open
TD Synnex (SNX) is among the most significant technology-sector reports of the week. TD Synnex will report its financial results for its first fiscal quarter 2026, ended February 28, 2026, before market open on Tuesday, March 31, 2026. Analysts expect the company to announce earnings of $3.24 per share and revenue of $15.59 billion for the quarter. The IT distributor beat consensus in its prior quarter by $0.15, reporting $3.83 EPS against estimates of $3.68. The company connects more than 1,500 vendors such as Microsoft, Cisco Systems, and Palo Alto Networks, with analysts citing strong positioning in cloud, cybersecurity, and AI computing, as well as tailwinds from the Windows refresh cycle.
McCormick & Company (MKC) also reports before the Tuesday open. McCormick is expected to release its Q1 2026 results before the market opens on Tuesday, March 31, with analysts expecting earnings of $0.63 per share and revenue of $1.79 billion for the quarter. The Zacks consensus estimate for revenues implies an 11.3% increase from the prior-year quarter’s figure. The spice and flavour maker has set its full-year 2026 guidance at $3.05–$3.13 EPS.
Tuesday, March 31 — After the close
Nike (NKE) — Consensus EPS: $0.29 | Revenue estimate: $11.22 billion
Full confirmed earnings list: March 30 – April 2
- Monday, March 30: Limited major US corporate reports scheduled.
- Tuesday, March 31 (BMO): TD Synnex (SNX) — Consensus EPS: $3.24; McCormick & Company (MKC) — Consensus EPS: $0.63
- Tuesday, March 31 (AMC): Nike (NKE) — Consensus EPS: $0.29, Revenue: $11.22B
- Wednesday–Thursday, April 1–2: Lighter reporting schedule ahead of the Good Friday closure.
Markets will be closed Friday, April 3 in observance of Good Friday. U.S. stock markets will be closed on Friday, April 3, 2026, in observance of Good Friday. The New York Stock Exchange and Nasdaq will resume normal trading hours on Monday, April 6, 2026.
Economic calendar highlights
Tuesday, March 31 — Consumer confidence
The Conference Board’s Consumer Confidence Index for March will provide another timely read on household sentiment. Context from the prior week is stark: consumer views on the economy dipped in March while inflation expectations crept higher on concerns over the impact from the war with Iran, with the University of Michigan’s survey headline reading falling to 53.3, down 5.8% from February. The one-year inflation outlook rose to 3.8%.
Wednesday, April 1 — ADP private payrolls & ISM Manufacturing PMI
The March 2026 ADP National Employment Report will be released on April 1, 2026 at 8:15 a.m. ET. The February ADP reading showed private sector employment increased by 63,000 jobs in February. The ADP pulse data for the four weeks ending March 7 showed U.S. private employers added an average of 10,000 jobs per week. The ADP print will serve as the primary directional indicator ahead of Friday’s official government data landing on a closed market.
The ISM Manufacturing PMI for March is due the same morning. The ISM Manufacturing PMI report is released on the first business day of the month at 10:00 a.m. EST. The prior S&P Global flash PMI for March offered an encouraging signal: the S&P Global US Manufacturing PMI climbed to 52.4 in March 2026, up from 51.6 in February and exceeding market expectations of 51.3. Production growth picked up, while new orders saw their strongest rise since October 2025, supported by stabilising export demand; firms reported easing tariff pressures and stockpiling due to fears of prolonged Middle East war disruptions. The ISM’s own February reading came in at 52.4, holding in expansion territory for a second straight month.
Friday, April 3 — March Nonfarm Payrolls (market closed)
The week’s most consequential data point arrives in an extraordinary context. The Employment Situation for March is scheduled to be released on Friday, April 3, 2026, at 8:30 a.m. Economists polled by FactSet expect the economy will have grown by 57,000 in March, far exceeding the loss of 92,000 jobs in the prior month. The unemployment rate is expected to have held at 4.4%.
The institutional complexity surrounding this release is notable. Due to the release of the March U.S. employment data on Friday, April 3, 2026, the Securities Industry and Financial Markets Association (SIFMA) is not recommending a full closure for secondary market trading of U.S. government securities for Good Friday. However, fixed income and repo market participants are broadly expected to observe the holiday. The practical result: a high-impact data release drops into a market vacuum, with full equity price discovery deferred to Monday, April 6. For more on the broader macro backdrop entering this week, see the PreMarket Daily roundup from March 27, 2026.
Federal Reserve: open speaking window
The week of March 30 falls squarely in the open communication window between the March 17–18 FOMC decision and the next meeting. The Federal Reserve has scheduled its next FOMC meeting for April 28–29, 2026. The Philadelphia Fed’s blackout schedule confirms the next blackout period begins April 18, meaning Fed officials may speak freely through the week ahead.
The monetary policy backdrop is well-established. On March 18, 2026, the Jerome Powell-led Federal Reserve kept the federal funds target range unchanged at 3.50%–3.75%, extending the pause in rate cuts that began in January. Governor Miran dissented, advocating for an immediate rate cut, highlighting some divergence within the committee. The median rate forecast remains unchanged, with one cut expected in 2026 and another in 2027; inflation forecasts were revised higher, with core inflation now expected at 2.7% for 2026.
The minutes of regularly scheduled meetings are released three weeks after the date of the policy decision. That would place the release of the March 17–18 FOMC minutes around April 8 — the week after the holiday weekend. No formal Fed minutes release is therefore scheduled during the week of March 30.
Key voices to monitor in public appearances include Governor Christopher Waller, Vice Chair Philip Jefferson, and Vice Chair for Supervision Michelle Bowman, all of whom have been active in the period between meetings. Any commentary touching on the labour market trajectory ahead of Friday’s NFP print — and on the energy-price inflation channel from the Middle East conflict — will be closely parsed by rates traders. For further context on the geopolitical forces shaping the macro backdrop, see the March 25 PreMarket Daily roundup on gold and oil volatility.
Other market events
Market close: Good Friday, April 3
In 2026, the NYSE and Nasdaq are closed on Good Friday, April 3. This produces a four-day trading week (Monday–Thursday) and means market participants will be unable to respond in real-time to the March Nonfarm Payrolls report. The first opportunity for equity markets to price the jobs data will be Monday, April 6, when futures reopen Sunday evening.
Broader market context
Equities enter the week with significant technical and sentiment damage to absorb. The Dow fell 793.47 points, or 1.73%, to close at 45,166.64 on Friday; the S&P 500 lost 1.67% and ended the session at a seven-month low of 6,368.85; the Nasdaq Composite dropped 2.15% and settled at 20,948.36. The broad market index notched its fifth straight weekly decline, dropping 2.1% in the period. The Dow fell into correction territory on Friday, while Brent topped $110 after incidents in the Strait of Hormuz exacerbated investors’ energy supply concerns.
The BlackRock Investment Institute has characterised the macro environment bluntly: the Middle East war has escalated, with attacks on energy infrastructure and a possible prolonged closure of the Strait of Hormuz global shipping channel, triggering a sharp repricing in energy markets implying disruptions could last into next year. The broad supply chain shock has jolted markets out of complacency about inflation pressures.
Options expiration: Standard monthly equity and index options settled on the third Friday of March (March 20), leaving the week of March 30 free of major structured expiry events. The next significant options expiry window falls in April.
For investors tracking the housing and consumer discretionary earnings cycle intersecting with the current macro environment, the KB Home Q1 analysis at PreMarket Daily provides relevant sector context heading into the week.
Conclusion
The week of March 30–April 3, 2026 presents a densely layered set of catalysts compressed into four trading sessions. Nike’s fiscal Q3 earnings on Tuesday evening will be the singular corporate flashpoint, with the market seeking evidence that CEO Elliott Hill’s turnaround plan can survive both a challenging consumer environment and the cost pressures of an escalating Middle East conflict. On the macro side, Tuesday’s ADP private payrolls and Wednesday’s ISM Manufacturing PMI will each function as forward indicators ahead of the March Nonfarm Payrolls release — a consensus of 57,000 jobs, rebounding from February’s 92,000 loss — that drops into an empty market on Good Friday. With the Fed in an open speaking window, Governor commentary on inflation and the labour market will add another layer of interest to the week’s event risk. Markets open Monday, April 6 to the full weight of that Friday data.
This article is published by PreMarket Daily for informational and educational purposes only. Nothing here constitutes financial advice, investment recommendations, or an offer to buy or sell any securities. Always consult a qualified financial professional before making investment decisions.
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