Stock market investors entering the holiday-truncated week ahead will primarily focus on a dense sequence of economic data releases amid persisting geopolitical tensions in West Asia. While domestic stock exchanges will be closed on Friday for the Good Friday observance, the pivotal March employment report is still scheduled for release.
Key economic indicators under investor scrutiny include the latest consumer confidence data, retail sales performance, JOLTS job vacancy figures, and the final S&P manufacturing and services reports.
Furthermore, Federal Reserve Chair Jerome Powell’s scheduled Monday speech will be analyzed for potential shifts in monetary policy.
Energy sectors are expected to remain volatile, as Brent crude contracts expire on Tuesday against a backdrop of global instability. Crude oil prices surged again with no clear end in sight for the conflict.
Investors fear that the war will disrupt the Persian Gulf’s energy industry for a long time, setting off a punishing wave of global inflation by keeping large amounts of oil and natural gas out of global markets.
Finally, sector-specific attention turns toward Tesla and rival automakers as they publish their monthly vehicle delivery statistics.
US Economic Calendar
March 30 (Monday), Federal Reserve Chair Jerome Powell’s speech is scheduled.
March 31 (Tuesday), separate data on S&P Case-Shiller home price index (20 cities) for January, Chicago Business Barometer (PMI) for March, job openings for February, and consumer confidence for March will be declared.
April 1 (Wednesday), separate reports on US retail sales (delayed report) for February, ADP jobs for March, S&P final US manufacturing PMI for March, and ISM manufacturing for March will be released.
April 2 (Thursday), separate data on initial jobless claims for the week ended March 28 and US trade deficit for February will be issued.
April 3 (Friday), separate reports on US employment for March and S&P final US services PMI for March will be released.
Earnings
The following companies are due to report quarter results in the week ahead — Nike, Beyond Meat, ConAgra, Lamb Weston, and Cal-Maine Foods.
US Stock Market Last Week
US stock indices on Friday closed out their worst week since the Iran war began.
On Friday, the S&P 500 fell 108.31 points, or 1.7%, to 6,368.85. The Dow Jones Industrial Average fell 793.47 points, or 1.7%, to 45,166.64. The Nasdaq Composite fell 459.72 points, or 2.1%, to 20,948.36.
For the week, the S&P 500 is down 137.63 points, or 2.1%. The Dow is down 410.83 points, or 1.7%. The Nasdaq is down 699.25 points, or 3.2%.
