The Week Ahead For March 22nd to 26th

by Geoff Garbacz | 03/21/2021 6:06 PM
The Week Ahead For March 22nd to 26th

The S&P 500, Dow Jones Industrial Average, NASDAQ 100 and Russell 2000 were all lower last week.

The NASDAQ 100, S&P 500, Russell 2000 and the Dow Jones Industrial Average are all above their 200 Day Moving Averages.

Geopolitical and Fiscal Events. This week will not be a quiet one. The Federal Reserve Chairman speak on Monday and then begins two days of testimony before the House and Senate.Treasury Secretary Yellen will also speak though we do not have a specific time yet.

Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Existing Home Sales, New Home Sales, Durable Goods, Q4 GDP (final), Personal Income and University of Michigan Consumer Sentiment.

Earnings Releases.  Notable releases this upcoming week include TME SNX ADBE INFO GME GIS RH CCL DRI CALM.

Monday, March 22

  • March Existing Home Sales are due out at 10:00 a.m. EDT and is expected to fall to 6,500,000 from 6,669,000.
  • Federal Reserve Chairman Powell speaks at the BIS Conference. We do not have a time yet.

Tuesday, March 23

  • February New Home Sales are due out at 10:00 a.m. EDT and expected to fall to 867,000 from 923,000.
  • Federal Reserve Chairman Powell begins two days of testimony on the Hill. Today before the House Financial Services.
  • Coca Cola (KO) holds their analyst meeting.

 

Wednesday, March 24

  • February Durable Orders are due out at 8:30 a.m. EDT and are expected to fall to 0.9% from 3.4%.
  • Federal Reserve Chairman Powell concludes two days of testimony before the Senate Banking Committee.
  • Alcon (ALC) and Docusign (DOCU) hold their analyst meetings. .
  • Masonite International (DOOR) holds its analyst meeting. 
  • The latest NYSE and NASDAQ Short Interest Data for the period ended settlement of March 15th and trade date March 11th is due out after the close. In this latest period, which covers from February 24th through March 11th , the S&P 500 rose 3.36%.

Thursday, March 25

  • Q4 GDP (final) is due out at 8:30 a.m. EDT and is expected to stay at 4.1%.

Friday, March 26

  • February Personal Income is due out at 8:30 a.m. EDT and is expected to fall to -7% from 10%.
  • University of Michigan Consumer Sentiment (final) is due out at 10:00 a.m. EDT and is expected to rise to 83.6 from 83.

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