Weekly Market Snapshot

News Last Week

  • Sunday Federal Reserve Chairman Powell said in an interview on 60 Minutes that he is in no hurry to change interest rate policy, and that the committee would “be patient”.
  • Monday Boeing dragged the Dow down by around 200 points after the stock fell 12% in early trading. Sunday a 737 MAX 8 jet crashed, killing all on board, the second such crash in 6 months. Several countries including China grounded all flights involving the aircraft.
  • Wednesday the New York Times reported that Facebook is the subject of a grand jury criminal investigation into the company’s data-sharing practices.
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  • Thursday Snap Inc. rose 9.7% after BTIG analyst Richard Greenfield turned bullish on the stock. Mortgage rates fell to the lowest level in a year last week as reported Thursday. Freddie Mac said the 30-year benchmark rate fell to 4.31% for the week ending March 14.
  • Thursday Facebook announced product Chief Chris Cox, who had been with the company 10 years is leaving.
  • Thursday night British MP’s voted to postpone Brexit, meaning the UK would not leave the EU on March 29, and Prime Minister May would bring her deal back to Parliament for a third time next week. Friday Tesla shares opened down 5% after unveiling their “underwhelming “Model Y.
  • Monday: Retail Sales for January (new release date) were 0.2%.
  • Tuesday: NFIB Small-business index for February was 101.7.
  • Tuesday: Consumer Price Index for February came in at 0.2%.
  • Wednesday: Durable Goods Orders (new release date) for January were 0.4%.
  • Wednesday: Producer Price Index for February came in at 0.1%.
  • Thursday: Retail Sales for February – delayed.
  • Thursday: New Home Sales (new release date) for January were 607,000.
  • Friday: Empire State Manufacturing Index for March was 3.7.
  • Friday: Industrial Production for February came in at 0.1%.
  • Friday: Consumer Sentiment for March rose to 97.8.
  • Friday: Job Openings for January rose to 7.6 million.

News Next Week

  • Monday: Home Builders’ Index for March at 10.00am.
  • Tuesday: Housing Starts for February - delayed.
  • Tuesday: Factory Orders (new release date) for January at 10.00am.
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  • Wednesday: Federal Reserve announcement at 2.00pm.
  • Thursday: Philly Fed Index for March at 8.30am.
  • Friday: Existing Home Sales for February at 10.00am

Featured Chart

Market Chart A Second Chance at Downside Protection

03/18/2019

A second chance at downside protection

Investors that lacked downside protection during the 4th quarter are getting a second chance as the S&P 500 and expected volatility recover to pre-4th...

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