What will drive the markets this week?
The S&P 500 ended the week with modest gains on Thursday, capping off its strongest first quarter in five years as investors analyzed the latest economic data and awaited the next inflation report. During the week, the Dow rose by 0.84%, the S&P 500 edged up by 0.39%, and the Nasdaq dipped by 0.3%. March saw the Dow climbing by 2.08%, the S&P gaining 3.1%, and the Nasdaq adding 1.79%. For the quarter, the Dow gained 5.62%, the S&P 500 surged by 10.16%, and the Nasdaq rallied by 9.11%.
In Europe, the STOXX 600 closed at a record high on Thursday, wrapping up its second consecutive quarter of gains. Retailer JD Sports saw its strongest day in over four years after reaffirming its annual profit forecast. The pan-European STOXX 600 closed 0.2% higher, concluding a week marked by four range-bound sessions ahead of an extended holiday weekend.
In the Asia-Pacific region, markets were mixed on Wednesday as investors assessed economic data from China and Australia. The Japanese yen fell to 151.97 against the greenback, its weakest level in 34 years. Japan’s Nikkei 225 rebounded by 0.9% to close at 40,762.73, while the broad-based Topix rose by 0.66% to 2,799.28.
As the markets are back for the full week of trading, investors will closely monitor labor market data, particularly the U.S. payroll report scheduled for release on Friday.
The upcoming week features several notable Federal Reserve speakers, such as Mary Daly, President of the San Francisco Fed, and Austan Goolsbee, President of the Chicago Fed. Additionally, several companies are set to announce their earnings, including Paychex (PAYX), Dave & Buster’s Entertainment (PLAY), Levi Strauss (LEVI), and BlackBerry Limited (BB).
Furthermore, key data to be released this week includes purchasing managers index (PMI) reports for both the manufacturing and service sectors.
Events expected to move the markets this week
Monday, April 1
- S&P U.S. Manufacturing PMI (March final)
- Construction spending (February)
- ISM manufacturing (March)
Tuesday, April 2
- Factory orders (February)
- Job openings (February)
- San Francisco Fed President Mary Daly is scheduled to deliver remarks and New York Fed President John Williams moderates a panel discussion
- Paychex (PAYX), Cal-Maine Foods (CALM) and Dave & Buster’s Entertainment (PLAY) report earnings
Wednesday, April 3
- ADP employment (March)
- S&P U.S. Services PMI (March final)
- ISM services (March)
- Chicago Fed President Austan Goolsbee delivers remarks and Fed Chairman Jerome Powell Participates in a Forum at Standford
- Acuity Brands (AYI), Levi Strauss (LEVI) and BlackBerry Limited (BB) report earnings
- Disney (DIS) Annual Shareholder Meeting
Thursday, April 4
- U.S. trade balance (February)
- Cleveland Fed President Loretta Mester and Chicago Fed President Austan Goolsbee are scheduled to deliver remarks
- RPM International (RPM) and Conagra Brands (CAG) are scheduled to deliver earnings
Friday, April 5
- U.S. employment report (March)
- Consumer credit (February)