Markets in a Minute - POWell

Insights | Markets in a Minute - POWell

Author: Zac Martin, Investment Associate

Week Ending March 22nd

Market Returns 3.25.24


  • 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).

HORAN Capital Advisors, LLC is an SEC registered investment advisor. The information herein has been obtained from sources believed to be reliable but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results. Market conditions can vary widely over time and there is always the potential of losing money when investing in securities. HCA and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only and is not intended to provide and should not be relied on for tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.