Author: Zac Martin, Investment Associate
Week Ending March 22nd
- The major event of the week was the FOMC Meeting. The Fed left rates unchanged for March. Members still see potentially three rate cuts this year, according to the Dot Plot.
- Both Housing Permits and Starts were higher than analyst expectations. Housing permits came in 28K higher than expected to 1.518M. Housing Starts grew 10.7% M/M, 0.3% higher than expectations.
- Nvidia held their 2024 Ai conference, unveiling their newest Ai chip the Blackwell 200.
- Earnings from last week - consumer cyclical companies (NKE & DRI) reported less consumer spending; tech consulting (ACN) forecasted lower revenue; semiconductors (MU) continue to show strong demand.
The week ahead:
- New Home Sales (3/25).
- Consumer Confidence (3/26).
- PCE & Core PCE (3/29).
- Upcoming Earnings – MKC (3/26), CCL, CTAS, PAYX (3/27), WBA (3/28).
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