Stocks fell for a fourth week as the Middle East conflict and volatile oil prices pushed investors toward safety. Energy and financials held up while utilities, materials and consumer staples lagged, and the market is wrestling with uncertainty about energy supplies and inflation.

The Fed paused on rates while inflation remains stubbornly above targets. Crossmark recommends a cautious asset mix — neutral equities, overweight cash, and underweight bonds — expecting further near-term weakness but a likely rebound once clarity on oil and supply risks emerges.

For a copy of this week's Doll's Deliberations click on the following link March 23 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Bob Doll reviews markets as Middle East conflict drives oil prices and investor concern. While the S&P 500 held roughly flat, the NASDAQ has softened, and energy-led price shocks raise the risk of higher headline inflation amid otherwise solid global growth.

Despite volatile moves across equities, bonds, gold and crypto, Doll concludes the recent energy shock has not yet derailed the expansion or market trends, though prolonged disruption could tip the outlook toward stagflation and weaker corporate profits.

For a copy of this week's Doll's Deliberations click on the following link March 16 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Markets fell after the Iran attack, with the S&P down about 2% as investors rotated to cash amid geopolitical risk, stretched AI-related valuations, private credit concerns, and elevated earnings expectations.

Sectors diverged: energy held up while materials, staples, healthcare and industrials led losses. Short-term volatility and oil sensitivity are elevated, but broad macro momentum, accommodative policy, and supply potential make a severe global slowdown unlikely unless the conflict escalates dramatically.

Conclusion: It is premature to overhaul a 6–12 month investment strategy. Stay cautious on U.S. equity valuations and bonds over the next year, favor geographic diversification including international and emerging markets, monitor oil and inflation, and separate short-term noise from fundamentals.

For a copy of this week's Doll's Deliberations click on the following link March 9 or go to www.crossmarkglobal.com for additional insight and investment solutions.