M Notes: Mon, 3-31
| Weekly Close: 3-28-25 | + (-) | % | |
|---|---|---|---|
| Dow30 | 41,584 | -401 | -1.0% |
| S&P500 | 5,581 | -86 | -1.5% |
| Nasdaq | 17,323 | -461 | -2.6% |
| 10-year | 4.25 | -0.00 | -0.0% |
| Oil | 69.12 | +0.86 | +1.3% |
LAST WEEK:
Markets: Tariffs, and what they could possibly mean, continue to impact US Markets.
S&P roller coaster last week: Up significantly, Up, Down a lot, Down, and Down significantly.
Durable goods: Orders were up +0.9% in February, and were up +3.4% Y/Y.
Fed Balance Sheet: $6.740 Trillion.
GDP: The final read on Q4 2024 rose a tick from +2.3%, up to +2.4%.
Housing: New home sales were up +1.8% in February, and were up +5.1% Y/Y. Two weeks ago: Starts were up +11.2% in February, but were down -2.9% Y/Y. Existing home sales were up +4.2% in February, but were down -1.2% Y/Y. And they raised their Inflation forecast from 2.6% up a touch to 2.7%.
Inflation: The Personal Consumption & Expenditures index, the Inflation metric the Federal Reserve watches the most, came in as expected. In February, the PCE rose +0.3%. And it remained at +2.5% Y/Y.
Jobless claims: The weekly number came in at 224,000. The four-week average came in at 224,000.
National Debt: $36.665 Trillion.
Trade deficit: In the first read on February’s Trade Deficit, it came in worse than expected at -148 Billion (consensus was for -$136 Billion).
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THIS WEEK:
Focus of the week: All attention is on Wednesday, April 2nd (when Reciprocal Tariffs take effect).
Calendar: ISM manufacturing index (Tue); factory orders, ADP employment report (Wed); ISM services index, the final Feb trade deficit read, jobless claims (Thu); and the March jobs and unemployment numbers (Fri).