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Stocks gained ground yesterday, led by small caps. Small caps, particularly regional banks part of the SPDR S&P Regional Bank ETF ((KRE - Free Report) ), have been highly volatile recently after Silicon Valley Bank’s () demise.However, stocks that have been beaten up in sympathy, like First Republic Bank () rose strongly after comments by Treasury Secretary Janet Yellen successfully calmed markets – at least for now. Troubled European bank Credit Suisse () also clawed back some gains after falling more than 50% in Monday’s session. On Sunday, fellow Swiss bank UBS Group ((UBS - Free Report) ) agreed to buy its former rival for pennies on the dollar as part of a government-backed deal. Thus far, investors have cheered the deal – sending UBS shares higher by more than 15% for the week.
Image Source: Zacks Investment Research
Meanwhile, outside of small caps and banks, tech and growth stocks continued to perform well. Apple ((AAPL - Free Report) ) hit its highest level since September 2022. In an otherwise chaotic market environment, the mega-cap tech giant continues to be a source of calm. Earnings results were also largely positive. Zacks Rank #2 (Buy) stock Canadian Solar ((CSIQ - Free Report) ) shot higher by more than 15% on the session after reporting robust EPS growth of 553%. On Holding ((ONON - Free Report) ), a Swiss-based retailer known for its comfortable shoes, soared by 25% after reporting a solid quarter and providing rosy forward-looking guidance.
Looking Ahead
Investors will have a lot of news to digest in the coming days. Below are five key events to watch over the next few weeks:
1. Interest Rate Decision Today: The Federal Reserve is responsible for setting interest rates thus controlling a much of the market’s liquidity. Wednesday at 2 pm EST, the Fed will announce its latest decision. With the current banking chaos and stubborn inflation, Wednesday’s decision is one of the most highly anticipated Fed decisions in some time. Fed futures currently see an 83% chance of a 25-basis point hike.
2. GPU Technology Conference: Semiconductor manufacturer Nvidia ((NVDA - Free Report) ) is a market leader in terms of fundamentals and artificial intelligence innovation. Nvidia’s GTC conference is in progress now and is set to conclude Thursday. Investors will be watching to see if any news items emerge from this conference, as it can potentially have broader implications beyond NVDA.
3. End of Quarter: The first quarter ends on March 31st. Typically, the end of the quarter is a time when institutional investors “re-balance” their portfolios.
4. Tesla Delivery Numbers: Tuesday, TSLA shares found support at the 50-day moving average and bolted higher by more than 5%. The undisputed leader in electric vehicles is slated to report delivery numbers on April 2nd.
Image Source: Zacks Investment Research
5. Banking News: With all the action in banks, investors should be expecting more news in the coming days from governments, foreign banks, and regional banks.
Takeaway
A flurry of market-moving news events is expected over the next few weeks. Investors should expect increased volatility – especially around the Fed’s decision later today. Be sure to keep position sizing in check, manage risk, and monitor the price action. Investors may be pleasantly surprised if banks can stabilize and the Fed is willing to be more accommodating from an interest rate perspective.
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In the News: 5 Key Events to Watch
Market Overview
Stocks gained ground yesterday, led by small caps. Small caps, particularly regional banks part of the SPDR S&P Regional Bank ETF ((KRE - Free Report) ), have been highly volatile recently after Silicon Valley Bank’s () demise.However, stocks that have been beaten up in sympathy, like First Republic Bank () rose strongly after comments by Treasury Secretary Janet Yellen successfully calmed markets – at least for now. Troubled European bank Credit Suisse () also clawed back some gains after falling more than 50% in Monday’s session. On Sunday, fellow Swiss bank UBS Group ((UBS - Free Report) ) agreed to buy its former rival for pennies on the dollar as part of a government-backed deal. Thus far, investors have cheered the deal – sending UBS shares higher by more than 15% for the week.
Image Source: Zacks Investment Research
Meanwhile, outside of small caps and banks, tech and growth stocks continued to perform well. Apple ((AAPL - Free Report) ) hit its highest level since September 2022. In an otherwise chaotic market environment, the mega-cap tech giant continues to be a source of calm. Earnings results were also largely positive. Zacks Rank #2 (Buy) stock Canadian Solar ((CSIQ - Free Report) ) shot higher by more than 15% on the session after reporting robust EPS growth of 553%. On Holding ((ONON - Free Report) ), a Swiss-based retailer known for its comfortable shoes, soared by 25% after reporting a solid quarter and providing rosy forward-looking guidance.
Looking Ahead
Investors will have a lot of news to digest in the coming days. Below are five key events to watch over the next few weeks:
1. Interest Rate Decision Today: The Federal Reserve is responsible for setting interest rates thus controlling a much of the market’s liquidity. Wednesday at 2 pm EST, the Fed will announce its latest decision. With the current banking chaos and stubborn inflation, Wednesday’s decision is one of the most highly anticipated Fed decisions in some time. Fed futures currently see an 83% chance of a 25-basis point hike.
2. GPU Technology Conference: Semiconductor manufacturer Nvidia ((NVDA - Free Report) ) is a market leader in terms of fundamentals and artificial intelligence innovation. Nvidia’s GTC conference is in progress now and is set to conclude Thursday. Investors will be watching to see if any news items emerge from this conference, as it can potentially have broader implications beyond NVDA.
3. End of Quarter: The first quarter ends on March 31st. Typically, the end of the quarter is a time when institutional investors “re-balance” their portfolios.
4. Tesla Delivery Numbers: Tuesday, TSLA shares found support at the 50-day moving average and bolted higher by more than 5%. The undisputed leader in electric vehicles is slated to report delivery numbers on April 2nd.
Image Source: Zacks Investment Research
5. Banking News: With all the action in banks, investors should be expecting more news in the coming days from governments, foreign banks, and regional banks.
Takeaway
A flurry of market-moving news events is expected over the next few weeks. Investors should expect increased volatility – especially around the Fed’s decision later today. Be sure to keep position sizing in check, manage risk, and monitor the price action. Investors may be pleasantly surprised if banks can stabilize and the Fed is willing to be more accommodating from an interest rate perspective.