We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
We enter a new trading day, month and quarter with plenty of events ahead of us. For one thing, we’re in a new Jobs week, where JOLTS (and Job Quits) numbers on Tuesday join Wednesday’s ADP private-sector jobs report, followed by Weekly Jobless Claims on Thursday and non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS) on Friday morning. Better-than-expected employment news has helped backstop both markets and the economy at a time many had predicted both would have begun eroding.
Also this week, final S&P PMI Manufacturing and Services data comes out, along with ISM Manufacturing and Services — all for the month of March. Construction Spending, Factory Orders, Auto Sales and a new U.S. Trade Balance are expected this week, as well. There are also speeches and appearances from Fed Presidents and Governors galore, as a month from today the new Fed decision on interest rates will usher forth. By Friday afternoon, we’ll have a lot more understanding about the U.S. economy than we do right now.
After today’s close, we’ll see a fresh earnings report from PVH (PVH - Free Report) — formerly Phillips-Van Heusen, the parent company of Tommy Hilfiger, Calvin Klein, Izod and more — which is expected to have grown earnings by more than +47% year over year on -3% revenues. The stock is currently a Zacks Rank #2 (Buy), and rides 13 straight earnings beats into its fiscal Q4 report this afternoon. It’s not a major catalyst in the grands scheme of earnings results, but it’s an important company in terms of a segment of consumer appetite.
The real spigot opens for Q1 earnings next week, when Delta Air Lines (DAL - Free Report) brings quarterly results a week from Wednesday and the big banks — including JPMorgan Chase (JPM - Free Report) , Citigroup (C - Free Report) and Wells Fargo (WFC - Free Report) — on Friday of next week. This will mark the unofficial start of earnings season, which will do as much as any week’d worth of economic reporting to give the Fed the updates it needs to make a firm decision on interest rate policy moving forward.
Market indices ahead of the open have gone from exuberant to tepid, with triple-digit early-morning gains going flat a half hour ahead of the bell. Charts through the first quarter of 2024 are things of beauty — especially on the +11% performances on the Nasdaq and S&P 500, but also in the nearly +6% on the Dow and the Russell 2000. We don’t expect such market exuberance to remain this expansive, but it represents a very good start to an important year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Shutterstock
Pre-Markets Mixed to Start a New Quarter
We enter a new trading day, month and quarter with plenty of events ahead of us. For one thing, we’re in a new Jobs week, where JOLTS (and Job Quits) numbers on Tuesday join Wednesday’s ADP private-sector jobs report, followed by Weekly Jobless Claims on Thursday and non-farm payrolls from the U.S. Bureau of Labor Statistics (BLS) on Friday morning. Better-than-expected employment news has helped backstop both markets and the economy at a time many had predicted both would have begun eroding.
Also this week, final S&P PMI Manufacturing and Services data comes out, along with ISM Manufacturing and Services — all for the month of March. Construction Spending, Factory Orders, Auto Sales and a new U.S. Trade Balance are expected this week, as well. There are also speeches and appearances from Fed Presidents and Governors galore, as a month from today the new Fed decision on interest rates will usher forth. By Friday afternoon, we’ll have a lot more understanding about the U.S. economy than we do right now.
After today’s close, we’ll see a fresh earnings report from PVH (PVH - Free Report) — formerly Phillips-Van Heusen, the parent company of Tommy Hilfiger, Calvin Klein, Izod and more — which is expected to have grown earnings by more than +47% year over year on -3% revenues. The stock is currently a Zacks Rank #2 (Buy), and rides 13 straight earnings beats into its fiscal Q4 report this afternoon. It’s not a major catalyst in the grands scheme of earnings results, but it’s an important company in terms of a segment of consumer appetite.
The real spigot opens for Q1 earnings next week, when Delta Air Lines (DAL - Free Report) brings quarterly results a week from Wednesday and the big banks — including JPMorgan Chase (JPM - Free Report) , Citigroup (C - Free Report) and Wells Fargo (WFC - Free Report) — on Friday of next week. This will mark the unofficial start of earnings season, which will do as much as any week’d worth of economic reporting to give the Fed the updates it needs to make a firm decision on interest rate policy moving forward.
Market indices ahead of the open have gone from exuberant to tepid, with triple-digit early-morning gains going flat a half hour ahead of the bell. Charts through the first quarter of 2024 are things of beauty — especially on the +11% performances on the Nasdaq and S&P 500, but also in the nearly +6% on the Dow and the Russell 2000. We don’t expect such market exuberance to remain this expansive, but it represents a very good start to an important year.