Monica Ricks

A second U.S.

combat plane also crashed in the Persian Gulf the same day.

It marks a significant blow for Washington as the war enters its sixth week.

Meantime, French President Emmanuel Macron is now calling on medium-sized powers to join forces and stand up to the U.S.

and China.

Among other issues, Macron discussed maritime security in the Strait of Hormuz and pitched closer cooperation with countries like Japan and South Korea, who Macron says are badly suffering from high energy costs.

U.S.

job growth rebounded in March, which is a sign the labor market was stabilizing as the war in Iran started.

Economists expect the war to have more of an impact on future jobs reports if the conflict continues.

But for now, economist Stephanie Roth tells Bloomberg the market's stable.

Stephanie Roth with Wolf Research on Bloomberg Surveillance.

White House National Economic Council Director Kevin Hassett also told Bloomberg he doesn't think companies will have to revise their annual forecasts much.

But airlines may be a different story.

Lufthansa is now warning of possible fuel shortages should the conflict in the Middle East turn into a longer war.

The airline says availability is already difficult at some airports in Asia.

And Europe's biggest aviation group said last week that it's considering plans that include grounding planes if demand drops and fuel prices keep surging.

Brent crude is over $109 a barrel, and a significant portion of jet fuel shipments are still stuck in the Strait of Hormuz.

Many Americans are also rethinking their travel plans now due to this war.

Bloomberg's Nathan Hager explains.

President Trump has asked Congress to enact a $2.2 trillion budget for discretionary programs that includes $1.5 trillion for defense.