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Top things to watch this week
The Economic Calendar:
MONDAY: S&P Global Manufacturing PMI Final (8:45a CT), Construction Spending (9:00a CT), ISM Manufacturing Index (9:00a CT), Lisa Cook Speaks (5:50p CT)
TUESDAY: Redbook (7:55a CST), Factory Orders (9:00a CT), JOLTS (9:00a CT), Vehicle Sales (9:00a CT), Michelle Bowman (9:10a CT), John Williams Speaks (11:00a CT), Loretta Mester Speaks (11:05a CT), Mary Daly Speaks (12:30p CT)
WEDNESDAY: MBA Morgage Applications (6:00a CST), ADP Employment Report (7:15a CT), Michelle Bowman Speaks (8:45a CT), PMI Composite Final (8:45a CT), ISM Services Index (9:00a CT), EIA Petroleum Stats Report (9:30a CST), Austan Goolsbee Speaks (11:00a CT), Jerome Powell Speech (11:10a CT), Michael Barr Speaks (12:10p CT), Adriana Kugler Speaks (3:30p CT)
THURSDAY: Challenger Job Cuts (6:30a CT), Balance of Trade (7:30a CT), Import & Export Prices (7:30a CT), Jobless Claims (7:30a CT), EIA Natural Gas Report (9:30a CT), Austan Goolsbee Speaks (11:45a CT), Loretta Mester Speaks (1:00p CT), Alberto Musalem Speaks (6:20p CT), Adriana Kugler Speaks (6:30p CT)
FRIDAY: US Unemployment Rate (7:30a CT), Susan Collins Speaks (7:30a CT), Thomas Barkin Speaks (8:15a CT), Michelle Bowman Speaks (11:15a CT), Baker Hughes Rig Count (12:00p CT), Consumer Credit Change (2:00p CT)
Key Events:
- Traders focus on jobs data this week.
- ADP's private employment report for March on Wednesday.
- Friday's U.S. non-farm payrolls data, with economists expecting +200K jobs report.
- OPEC+'s monitoring committee (JMMC) announcement on Wednesday.
- Very active Fed speaker schedule (see below in Interest Rates)
- Fed chair Jerome Powell will speak at a Stanford forum on Wednesday.
- The earnings calendar is light, but we are watching BlackBerry (BB).
- Highly anticipated car delivery report from Tesla (TSLA).
STOCK INDEX FUTURES
The S&P 500 finished its best first quarter since 2019. The S&P 500 Q1 returns were +10.05%, and the Nasdaq-100 was up a solid +8.42%
Gains were largely steady across the board, but tech companies were the ones to watch, especially the biggest beneficiary of AI hype, Nvidia (NASDAQ: