The Daily Briefing For March 30th: Stocks drifted lower Tuesday

by Geoff Garbacz | 03/30/2021 9:42 AM

Rebel Yell Morning Market Report

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The Daily Briefing For March 30th: Stocks drifted lower Tuesday

March 30, 2021

The S&P 500, Dow Jones Industrial Average and the NASDAQ 100 were all higher last week. The Big Picture [monthly bias] for the NASDAQ 100, S&P 500, Russell 2000 and the Dow Jones Industrial Average are all above their monthly Displaced Moving Average (DMA) Channel.

1.Geopolitical and Fiscal Events. This week will be a quiet one as many are on Spring Break this week.

2.Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as Consumer Confidence, ADP Employment Index, Chicago PMI, Pending Home Sales, ISM Manufacturing Index and Construction Spending.

3.Earnings Releases. Notable releases this upcoming week include CALM LULU CHWY MU WBA KMX JKS.

Monday, March 29

None of note.

Tuesday, March 30

March Consumer Confidence are due out at 10:00 a.m. EDT and expected to rise to 97 from 91.30.

Wednesday, March 31

March ADP Employment Index is due out at 8:15 a.m. EDT and is expected to rise to 525,000 from 117,000.

March Chicago PMI is due out at 9:45 a.m. EDT and is expected to rise to 60 from 59.50.

February Pending Home Sales are due out at 10:00 a.m. EDT and is expected to improve to -2.6% from -2.8%.

Thursday, April 1

March ISM Manufacturing Index is due out at 10:00 a.m. EDT and is expected to improve to 61.20% from 60.8%.

February Construction Spending is due out 10:00 a.m. EDT and is expected to fall to -0.9% from 1.7%.

Friday, April 2

Markets are closed for Good Friday.

The latest nonfarm payroll will be released at 8:30 a.m. EDT even though markets are closed.

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