The April 2026 preliminary consumer sentiment report "is a hard one to spin as a positive," says Alex Coffey. The report showed a plunge month-over-month. Factory orders for February also came in flat. He explains how the latest economic data shapes the inflation picture as talks between the U.S. and Iran to reopen the Strait of Hormuz kick into a new gear. Alex then outlines expectations for volatility heading into the weekend as the talks commence.