By Stephen Rohrer (Wealth Manager) at Life Financial Group
Originally shared on the Life in the Markets podcast — 3/9/2026
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Market Update for March 9, 2026
Markets hate uncertainty, and we have lots of uncertainty right now. Most of the uncertainty surrounds how long, how extensive will the Iran conflict last. Will there be US boots on the ground? How long with the Strait of Hormuz remain closed and how will this impact the flow of resources and shipping around the world. How will the sharp price increase of oil impact prices for gas, energy, food, and other products.
And yet, given all the uncertainty, the markets have been relatively resilient. The S&P is only off 2% YTD which is actually pretty astounding.
I expect that if oil remains elevated for an extended period of time (several months), the global economy will slow and inflation for everyday items will start to creep higher. For this reason, I don’t expect that the Trump administration will want to keep the Iran conflict going longer than necessary to accomplish their aims.
War in Iran
Of course, the conflict in Iran has taken its toll – particularly on the increasing cost of oil. Between Iran using tiny, remote controlled boats to sink oil tankers, intelligence agents sabotaging refineries in Kuwait and constriction of sea going shipping lanes, it is no surprise that world oil prices are going up. The US is still currently a net-exporter of oil.
February Jobs Report
Apart from the stock market fluctuations this week, the biggest piece of news is the BLS Jobs Report for February. It was expected that the US economy would add jobs, but instead U.S. non-farm payroll numbers dropped by 92,000 jobs. This brings the US unemployment rate back to 4.4% – which is the same that it was in December. (January had improved to 4.3%). (https://www.bls.gov/news.release/empsit.t01.htm)
Is it less than ideal? Certainly. We’ll take all the jobs we can get of course. Is it a sign of the end of days? It is not.
So what does (or could) it mean? It does indicate that employers are wanting to trim expenses and not add employees. Each company may have different motivations but there may be continued uncertainty about the impact of tariffs and AI.
There is some good news buried in the report. This comes in the significant Year-Over-Year decrease of “discouraged” unemployed workers – particularly among working age men. In Feb. of 2025, about 329k unemployed men were “discouraged” – this is defined as “those who did not actively look for work in the prior 4 weeks for reasons such as thinks no work available, could not find work, lacks schooling or training, employer thinks too young or old, and other types of discrimination.” In Feb. of 2026, this number dropped to only 231k. That is a 30% drop-despite the overall number of men not in the work force increasing by 452k year-over-year – and the number of men currently wanting a job increasing by almost 300k year-over-year! This drop in discouraged workers is an excellent sign because it means men have hope and a vision. (https://www.bls.gov/news.release/empsit.t16.htm)
A Return to Christianity
Proverbs 29:18 tells us that “Where there is no vision, the people perish” (KJV).
And who is the source of true hope? Romans 15:13 “May the God of hope fill you with all joy and peace in believing, so that by the power of the Holy Spirit you may abound in hope.”
Did you catch that? Our God is the God of Hope.
Because of that, I do not think it is a coincidence that church attendance and bible reading among young men in America has also surged the past year. The Barna Group found that Gen Z and Millennials now attend church more faithfully than any other age group. (https://www.barna.com/research/young-adults-lead-resurgence-in-church-attendance/)
Young men, in particular, are driving the return to Christianity. (https://www.barna.com/trends/bible-reading-trends/)
Not only is there more interest in the Bible, but also conviction – Gen Z and Millenials are the most likely age groups to strongly agree that “The Bible is totally accurate in all of the principles it teaches”.
Is it any wonder, then, that as American men have turned their face to the God of Hope, their feelings of discouragement have waned?
The “market” or “economy” is so much more than numbers on a spreadsheet or stock prices on a report.
Our beliefs – our theology – our vision directly affects our feet , our tongues, and our hands. This is true whether we acknowledge it or not.
What To Look for This Week
So what can you anticipate this week? The Conflict with Iran will continue to unfold. We pray for a swift end and that better and more righteous rulers will emerge in Iran. The market may fluctuate a bit as it digests the jobs report and the conflict with Iran. Oil prices are likely to continue to rise as the production and delivery of oil from the Middle East is disrupted.
Weekly Bible Verse
1 Timothy 4:10: “For to this end we toil and strive, because we have our hope set on the living God, who is the Savior of all people, especially of those who believe.”
This week turn your face to Christ, our Living Hope. Let that truth inspire your hands to work with energy and excellence on the tasks that God has put before you.
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Disclaimer: The topics discussed here are for informational purposes only and do not constitute specific investment advice. Investing involves risks, including potential loss of principal. Past performance does not guarantee future results. Securities and advisory services offered through Geneos Wealth Management, member FINRA/SIPC.
