|Week Close: |
Markets: The S&P breaks the 4,000 mark.
The S&P roller coaster last week: down slightly, down, up, and up a lot. Markets were closed on Friday in observance of Good Friday.
ISM: Their manufacturing index, for March, was expected to come in at 61.5. The number beat expectations coming in at 64.7. Over 50 signals expansion. This is the highest ISM monthly manufacturing number since 1983.
Jobless claims: Consensus was for 680,000. The number came in higher than expected at 719,000.
Jobs: The prior read (February) came in at 379,000 new jobs. The consensus was for 625,000 jobs, with the actual number coming in at 916,000. That’s a great number. Some analysts have said we need another nine months of that just to get back to where we were in Feb 2020.
Motor Vehicle Sales: The February number was 15.7 million. Expectations for March were for 16.4 million. The actual number came in at
Unemployment: The prior read (February) came in at 6.2%. And the U3 to dropped down to 6.0% as expected.
Focus of the week: Markets are up today as a result of the strong jobs number we got last Friday. This week’s focus will take place on Wednesday afternoon when Markets will digest the Minutes from the latest FOMC meeting that took place three weeks ago.
Indicator focus: ISM services index, factory orders (Mon); Fed minutes (Wed); jobless claims (Thu), and the wholesale inflation index (Fri).