Thoughts from Bob (the new guy) on this week:
“Concentrate your energy and hoard your strength.” Sun Tzu, The Art of War
This quote seems apropos given current market conditions with the war in Ukraine and corresponding sanctions, the Federal Reserve preparing to lean into higher short-term interest rates “as needed” to mitigate fast-rising price levels and the S&P 500 trading roughly in a range between 4170 and 4600 it seems unlikely the market will have a catalyst to break above that 4600 level without some resolution in Ukraine. We believe now is not the time to be aggressive but be willing to add to “Best of Class” positions near the lower range of the S&P 500. Hope everyone has enjoyed their spring break, returns refreshed and is ready to seize opportunity!
What’s coming up next week?
Monday March 28th
Economic Calendar:
- 8:30 AM ET Advance Goods Trade Balance, for February
- 10:30 AM ET Dallas Fed Manufacturing Index for March
Earnings Calendar:
Earnings Before the Open: CASI, ITRM, SAIC, TPG, VERO
Earnings After the Close: CYCC, EYEN, JEF, LIDR, MBII, PLAY, PROG, WYY, ZEV
Tuesday March 29th
Economic Calendar:
- 7:45 AM ET ICSC Weekly Retail Sales
- 8:55 AM ET Johnson/Redbook Weekly Sales
- 9:00 AM ET CaseShiller 20 City for January
- 9:00 AM ET Monthly Home Price Index for January
- 10:00 AM ET JOLTs Job Openings for February
- 10:00 AM ET Consumer Confidence for March
- 4:30 PM ET API Weekly Inventory Data
Earnings Calendar:
Earnings Before the Open: ASO, BKYI, CONN, DTC, KALA, LOVE, MKC, SCYX
Earnings After the Close: CALM, CHWY, CNXC, CWBR, HLTH, MLKN, MU, PRGS, PVH, RANI, RH, SLGC, TCDA, UGRO, VRNT, ZVO
Other Key Events:
- Barclay’s Crypto and Blockchain Summit 2022 (virtual), 3/29-3/30
- Maxim 2022 Growth Conference (virtual), 3/28-3/29
- Shoptalk 2022, 3/27-3/30, in Las Vegas
- Truist Gaming Bus Tour, 3/28-3/30
Wednesday March 30th
Economic Calendar:
- 7:00 AM ET MBA Mortgage Applications Data
- 8:15 AM ET ADP Employment Index for March
- 8:30 AM ET Gross Domestic Product (GDP), Q4-Final
- 8:30 AM ET GDP Consumer Spending, Q4-F
- 8:30 AM ET GDP Price Deflator, Q4-F
- 8:30 AM ET PCE Prices, Q4-F
- 8:30 AM ET Core PCE Prices, Q4-F
- 10:30 AM ET Weekly DOE Inventory Data
Earnings Calendar:
Earnings Before the Open: AXLA, CNM, FIVE, MSM, PAYX, PTE, UNF
Earnings After the Close: AFIB, AGRX, FC, IZEA, KMPH, MSGM, PATH, PHR, RKDA, SMTI
Other Key Events:
- Barclay’s Crypto and Blockchain Summit 2022 (virtual), 3/29-3/30
- Shoptalk 2022, 3/27-3/30, in Las Vegas
- Truist Gaming Bus Tour, 3/28-3/30
- China NBS Non-Manufacturing Index for March
- China NBS Manufacturing PMI for March
Thursday March 31st
Economic Calendar:
- 7:30 AM ET Challenger Layoffs for March
- 8:30 AM ET Weekly Jobless Claims
- 8:30 AM EST Continuing Claims
- 8:30 AM ET Personal Income for February
- 8:30 AM ET Personal Spending for February
- 8:30 AM ET PCE Price Index m/m for February
- 8:30 AM ET PCE Price Index y/y for February
- 8:30 AM ET Core PCE Price Index m/m for Feb
- 8:30 AM ET Core PCE Price Index y/y for Feb
- 9:45 AM ET Chicago PMI for March
- 10:30 AM ET Weekly EIA Natural Gas Inventory Data
Earnings Calendar:
Earnings Before the Open: LTRY, TSHA, WBA
Earnings After the Close: ADMP, AEHR, BIOC, BLND, CALA, DCT, GBOX, HIL, MARK, NCNO, PL, PLSE, REED, VERB
Other Key Events:
- China Caixin Manufacturing PMI for March
Friday April 1st
Economic Calendar:
- 8:30 AM ET Nonfarm Payrolls for March
- 8:30 AM ET Private Payrolls for March
- 8:30 AM ET Manufacturing Payrolls for March
- 8:30 AM ET Unemployment Rate for March
- 8:30 AM ET Average Hourly Earnings m/m for March
- 8:30 AM ET Average Weekly Hours worked for March
- 9:45 AM ET Markit Manufacturing PMI, Mar-F
- 10:00 AM ET ISM Manufacturing Index for March
- 10:00 AM ET Construction Spending for February
- 10:00 AM ET Factory Orders m/m for February
- 10:00 AM ET Durable Goods Orders m/m for February
- 1:00 PM EST Baker Hughes Weekly rig count data
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