Post by Dave on Mar 8, 2021 3:05:30 GMT -8
Good morning. The pre-market is red again at -$2.15 at the moment. I would hate to think where Apple’s share price would be if it had had a bad quarter. This steady drop is insane and frightening.
What to Expect in the Markets This Week
What to Expect in the Markets This Week
Monday, March 8:
German Industrial Production (January).
Japanese Gross Domestic Product (GDP) (Q4).
Japanese Household Spending (January).
U.K. British Retail Consortium (BRC) Retail Sales Monitor (February).
Tuesday, March 9:
German Trade Balance (January).
French Nonfarm Payrolls (Q4).
U.S. Energy Information Administration Short-Term Energy Outlook.
Chinese Consumer Price Index (CPI) and Producer Price Index (PPI) (February).
Wednesday, March 10:
U.S. CPI (February).
Bank of Canada Interest Rate Decision.
Thursday, March 11:
Market Holiday in India for Maha Shivaratri.
Brazilian CPI (February).
European Central Bank (ECB) Interest Rate Decision and Press Conference.
U.S. Job Openings and Labor Turnover Survey (JOLTS) Job Openings (January).
Japanese Large Manufacturing Business Sentiment Index (BSI) (Q1).
Friday, March 12:
U.K. Trade Balance (January).
U.K. Manufacturing Production (January).
Germany CPI (February).
French CPI (February).
Indian CPI (February).
U.S. PPI (February).
Brazilian Retail Sales (January).
Canadian Unemployment Rate (February).
U.S. Preliminary Michigan Consumer Expectations and Sentiment Indexes (March).
JOLTS
The unemployment rate dipped to 6.2% in February from the 6.3% in January. While that 0.1% is an important change, especially as it was very highly concentrated in the hospitality sector, the Job Openings and Labor Turnover Survey (JOLTS) results from January, which are released this upcoming Friday, can still be very valuable to understanding the current labor market. The JOLTS measures the number of job vacancies, which can be a useful indicator of the demand for labor in different sectors, and can help show which sectors are experiencing a recovery in customer demand.
European Central Bank Policy
The European Central Bank (ECB), which makes monetary policy for the Eurozone, announces interest rates and other monetary policy decisions this upcoming Thursday. There's little expectation that interest rates will be lowered further into the negatives. However, just as Treasury yields in the U.S. have climbed sharply over the past month, so too have bond yields in the Eurozone. The yield on the 10-year German Bund rose from -0.513% at the beginning of February to -0.303% in early March, an increase of over 40%. Rising yields, both here in the U.S. and in the EU are driven by increased expectations of growth and inflation due to optimism about current vaccination programs restoring economic normalcy. However, as the ECB has committed to keeping rates low, as a sustained rise in rates could harm a recovery, keep watch to see if the ECB expands its bond-buying program to help offset rising yields.
U.K. Manufacturing and Trade Balance Post-Brexit
This upcoming Friday the U.K. reports manufacturing production and trade balance numbers for January, the first month after the Brexit deal reached at the end of 2020. While the deal ensured that tariffs would not spring up between the U.K. and EU, the split has still resulted in a number of administrative and regulatory difficulties complicating trade. It's worth seeing how these new complications impact the U.K.'s trade balance, as well as U.K. manufacturing production.
German Industrial Production (January).
Japanese Gross Domestic Product (GDP) (Q4).
Japanese Household Spending (January).
U.K. British Retail Consortium (BRC) Retail Sales Monitor (February).
Tuesday, March 9:
German Trade Balance (January).
French Nonfarm Payrolls (Q4).
U.S. Energy Information Administration Short-Term Energy Outlook.
Chinese Consumer Price Index (CPI) and Producer Price Index (PPI) (February).
Wednesday, March 10:
U.S. CPI (February).
Bank of Canada Interest Rate Decision.
Thursday, March 11:
Market Holiday in India for Maha Shivaratri.
Brazilian CPI (February).
European Central Bank (ECB) Interest Rate Decision and Press Conference.
U.S. Job Openings and Labor Turnover Survey (JOLTS) Job Openings (January).
Japanese Large Manufacturing Business Sentiment Index (BSI) (Q1).
Friday, March 12:
U.K. Trade Balance (January).
U.K. Manufacturing Production (January).
Germany CPI (February).
French CPI (February).
Indian CPI (February).
U.S. PPI (February).
Brazilian Retail Sales (January).
Canadian Unemployment Rate (February).
U.S. Preliminary Michigan Consumer Expectations and Sentiment Indexes (March).
JOLTS
The unemployment rate dipped to 6.2% in February from the 6.3% in January. While that 0.1% is an important change, especially as it was very highly concentrated in the hospitality sector, the Job Openings and Labor Turnover Survey (JOLTS) results from January, which are released this upcoming Friday, can still be very valuable to understanding the current labor market. The JOLTS measures the number of job vacancies, which can be a useful indicator of the demand for labor in different sectors, and can help show which sectors are experiencing a recovery in customer demand.
European Central Bank Policy
The European Central Bank (ECB), which makes monetary policy for the Eurozone, announces interest rates and other monetary policy decisions this upcoming Thursday. There's little expectation that interest rates will be lowered further into the negatives. However, just as Treasury yields in the U.S. have climbed sharply over the past month, so too have bond yields in the Eurozone. The yield on the 10-year German Bund rose from -0.513% at the beginning of February to -0.303% in early March, an increase of over 40%. Rising yields, both here in the U.S. and in the EU are driven by increased expectations of growth and inflation due to optimism about current vaccination programs restoring economic normalcy. However, as the ECB has committed to keeping rates low, as a sustained rise in rates could harm a recovery, keep watch to see if the ECB expands its bond-buying program to help offset rising yields.
U.K. Manufacturing and Trade Balance Post-Brexit
This upcoming Friday the U.K. reports manufacturing production and trade balance numbers for January, the first month after the Brexit deal reached at the end of 2020. While the deal ensured that tariffs would not spring up between the U.K. and EU, the split has still resulted in a number of administrative and regulatory difficulties complicating trade. It's worth seeing how these new complications impact the U.K.'s trade balance, as well as U.K. manufacturing production.