Markets in a Minute - Eclipsed

Insights | Markets in a Minute - Eclipsed

Author: Zac Martin, Investment Associate

Week Ending April 5th – Eclipsed

  • Fed Governor Kashkari sees a possibility where no rate cuts occur; markets sold off on this news. CME Fed Watch sees a 53% chance of a cut in June v. 60% chance a week ago.
  • ISM PMIs both services and manufacturing reported above 50, with manufacturing posting a positive surprise and services missing expectations.
  • JOLTS for February reported little change in the number of open jobs and quit rate. Strongest increase in job openings; Finance, State/ Local Government & Recreation. Strongest decrease in quits: Transportation, Warehousing & Utilities.
  • Non-Farm Payrolls & Unemployment rate for March reported strong results. Jobs added were 98K above analyst expectations, totaling 303K. Unemployment rate dropped down to 3.8%

The week ahead: 

  • CPI for March (4/10)
  • FOMC minutes for March meeting (4/10 @2pm EST)
  • PPI for March (4/11)
  • Start of Q1 Earnings Season – BLK, JPM, WFC & STT (4/12)

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