M Notes: Mon, 3-6

	Week Close: 3-3-23	+ (-)	%
Dow	33,391	+734	+2.2%
S&P	4,046	+76	+1.9%
Nasdaq	11,689	+233	+2.0%
10-year	3.96	+0.01	+1.3%
Oil	79.85	+3.53	+3.6%

LAST WEEK:

Markets:  A strong Friday brings in a solid week.

S&P roller coaster last week:  Up, down, down, up, and up a lot.  

Fed Balance Sheet:   $8.34 trillion (down $42 billion).   

Durable goods orders:   They went down -4.5% in January and are up 3% YOY.

ISM:  While their manufacturing index missed expectations, it did rise from 47.4 up to 47.7 in February.  Their services index beat expectations, only falling a touch from 55.2 down to 55.1.

Jobless claims:  The weekly number came in at 190,000.  The four-week average remains at 193,000.

Radio:  Last week Bill was out of town.  You can normally hear Bill and I discuss Markets most Friday mornings at 6:38am, 7:38am, and 8:38am 1100 AM, WTAM. 

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THIS WEEK:

Focus of the week:  It will come on Friday morning when we get the new jobs and unemployment data.  Coming off a huge 517,000 number from January, expectations are for 215,000 new jobs in February.  The unemployment rate is expected to remain at 3.4%.  It will be interesting to see if there is any adjustment to last month’s huge jobs number.  

Earnings:  Some of the companies reporting this week:   Adidas, Campbell Soup, Oracle, and Prudential.

Economic calendar:  Factory orders (Mon); the ADP employment report. The Beige Book, the trade deficit (Wed); jobless claims (Thu); and the new jobs and unemployment data (Fri).