Company / Analytics

Analytics, 11 March 2024

What will drive the markets this week?

On Friday, the S&P 500 and Nasdaq saw a downturn after hitting record highs earlier in the session. Chip stocks, previously soaring, reversed course, compounded by a mixed labor market report revealing more new jobs than expected alongside a rising unemployment rate. The S&P 500 ended the week with a 0.26% loss, the Nasdaq fell by 1.17%, and the Dow dropped 0.93%.

Europe’s primary stock indices held steady on Friday, but experienced robust gains throughout the week, buoyed by record highs in German and French shares. Investor attention also turned to the U.S. jobs report for insights into global monetary policy outlooks.

Asia-Pacific markets rallied following remarks from U.S. Federal Reserve Chair Jerome Powell, hinting that interest rate cuts might be imminent if inflation signals support policy easing.

Investors and Federal Reserve officials, observing a quiet period ahead of the Fed’s upcoming meeting, are closely monitoring this week’s Consumer Price Index (CPI) inflation reading, as it takes precedence amidst a limited number of economic releases. Additionally, attention is on retail sales and the federal budget for further insights.

Noteworthy earnings reports are expected this week, including financial updates from retailers such as Dollar Tree Inc. (DLTR), Dollar General Corp. (DG), and Kohl’s Corp. (KSS). Real estate and lending firms are also poised to disclose their financial results. Of particular interest is Adobe Inc.’s earnings, as they will illuminate whether the software provider can maintain its success in leveraging artificial intelligence (AI) trends.

Events expected to move the markets this week

Monday, March 11

Tuesday, March 12

Wednesday, March 13

Thursday, March 14

Friday, March 15

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