−10%−5%0+5%−3.7%−1×+3.7%+1×Jobless claims for the week to Mar 22, 2025: 224,000 (+1k)Q1 2025 quarterly options expiryTrump announces reciprocal tariffs and a 10% baseline tariffJobless claims for the week to Mar 29, 2025: 219,000 (-5k)Trump announces a 90-day pause on reciprocal tariffsCPI release for March 2025: -0.1% on the month, core +0.1%Retail sales for March 2025: +1.7% on the month