Stock Market Begins the Week With a Strong Rally



DOW 17,977.42  +228.11 points or  +1.29%
S&P 500  2,081.19  +27.79 points  +1.35%

NASDAQ  4,929.51  +57.75 points or  +1.19%

Russell 2000  1,239.78  +7.64 points or  +0.62%

 

The Stock Market  began the week with a broad strong rally.  The Market opened higher, and slowly crept upward for the entire day, closing near the days high. Crude Oil made a strong move away from the $50 per barrel level, dropping again, closing down near the $44 per barrel level. $35 per barrel appears to be the next target level for Crude Oil.  The volatility index, the VIX, dissed last weeks sell off and today, the index sold off, dropping -2.44 percent to close down at 15.61. The 10 Year Treasury bond yield dipped slightly, down to the 2.10 percent level. Trading volume saw about 6.3 billion shares changing hands across all trading venues, according to BATS exchange data. 

 

All released and proposed to be released economic reports for the week are listed below.


March 16

8:30 AM Empire Manufacturing report for March was 6.9. The Market was expecting 8.8. The prior reported figure was 7.8. 

9:15 AM Industrial Production report for February was 0.1 percent. The Market was expecting 0.3 percent. The prior reported figure was revised from 0.2 percent to down -0.3 percent. 

9:15 AM Capacity Utilization report from February was 78.9 percent. The Market was expecting 79.5 percent. The prior reported figure was revised from 79.4 percent to 79.1 percent. 

10:00 AM NAHB Housing Market Index report for March was 53. The Market was expecting 56. The prior reported figure was 55. 

4:00 PM Net Long-Term TIC Flows report for January was -$27.2B. The prior reported figure was revised from $35.4B to $39.2B.


March 17

8:30 AM Building permits report for February

8:30 AM Housing Starts report for February

8:30 AM Building Permits report for February 


March 18

7:00 AM MBA Mortgage Index report for March 14

10:30 AM Crude Inventories report for March 14

2:00 PM FOMC Rate Decision report for March


March 19

8:30 AM Continuing Claims report for March 7

8:30 AM Initial Claims report for March 14

8:30 AM Continuing Claims report for March 7

8:30 AM Current Account Balance report for Quarter 4

10:00 AM Philadelphia Fed report for March

10:00 AM Leading Indicators report for February

10:30 AM Natural Gas Inventories report for March 14






































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