What will drive the markets this week?
Global stocks closed mixed last week on rising oil prices, news that the US Federal Reserve will take more aggressive action to tame rising inflation, and the continued effects of the Russia-Ukraine conflict.
This week investors will get key updates on inflation, housing and labor market data, and personal consumption expenditures.
After record price in 2021, spurred fairly by low mortgage rates and migration trends driven by the pandemic, growth is already experiencing a slowdown as rising mortgage rates, and higher prices constrain demand in the housing market. Meanwhile, Personal Consumption Expenditures (PCE) Price Index, the Fed’s preferred inflation gauge, will be released on Wednesday for February. The reading is likely to show that costs of consumer goods and services continued to rise last month, as commodities and raw materials prices soared following Russia’s invasion of Ukraine. Micron, Lululemon, Chewy, BioNTech, Walgreens, BlackBerry, and more will report earnings.
Monday, March 28:
- Dallas Fed Manufacturing Index (March)
Tuesday, March 29:
- Earnings from Micron, Lululemon, and Chewy.
- S&P Case-Shiller National Home Price Index (January)
- JOLTs Job Openings and Job Quits (February)
Wednesday, March 30:
- Earnings report from Paychex, and BioNTech.
- U.S. GDP Growth Rate Final Estimate (Q4 2021)
- Personal Consumption Expenditures (PCE) Prices (February)
Thursday, March 31:
- Eurozone Unemployment Rate (February)
- Earnings from Walgreens, and BlackBerry.
Friday, April 1:
- Nonfarm Payrolls (March)