Market Pulse

Market Pulse

April 1, 2024

Market views heading into the week highlight what we're watching and important news ahead.

A look back

  • Stocks had another positive week as the S&P 500 finished at a record close. The index gained over 10% in the first quarter, which historically has been a positive sign for the rest of the year.
  • Yields were largely unchanged as bond markets closed before the week’s most anticipated economic data was released. The 10-year yield dropped slightly, ending the week at 4.20%.
  • The Federal Reserve’s (Fed) preferred inflation gauge, Core Personal Consumption Expenditures (PCE), was mostly in-line with expectations and likely doesn’t change the Fed’s timeline for rate cuts.

A look ahead

  • Investors will focus on the March jobs report set to be released on Friday. In February, the economy added more jobs than most economists expected despite the unemployment rate ticking up to 3.9% and wage growth slowing.
  • Fedspeak will be highlighted by a speech from Chair Powell in California on Wednesday.
  • Economic Releases: ISM Manufacturing & Services, S&P Global U.S. Services, JOLTS Job Openings, ADP Employment, Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings. 

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