Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 
 
Blog Home
Bob Carey
Chief Market Strategist
Click for Bio

Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 

  US Economy and Credit Markets Ended March 10, 2017
Posted Under: Market Commentary Video

 
On Wednesday, the much ballyhooed March Federal Reserve meeting will occur and the implied probability of a rate increase has rocketed to 100% based upon the future markets. Yields have risen as the perceived likelihood of a more aggressive Federal Reserve is being priced in. Correspondingly, gold sold off last week as did oil; but for very different reasons. Oil tumbled as a result of domestic inventory builds which have markets concerned that any OPEC cuts will be offset by an increase in shale production. US crude stockpiles have increased for four straight weeks and the price of oil has now returned to where it was when OPEC initially agreed to an output cut. Tuesday of last week the US trade deficit matched expectations with imports outpacing exports. On Wednesday, ADP showed an increase in February payrolls and then on Friday the nonfarm payroll numbers were reported.  For the previous month the report showed an increase of 235,000 jobs as well as a small increase to earnings. The strength of this report largely put to bed any remaining concerns that the Federal Reserve may not cut rates next week. In fact, on the strength of February job creation, the US unemployment rate is now 4.7% and below the Fed's long-term target of 4.8%. Major economic reports (and related consensus forecasts) for the upcoming week include: Tuesday: February PPI Demand (.1%, -.5%); Wednesday: prior week MBA Mortgage Applications, March Empire Manufacturing (15, -3.7), February Retail Sales (.1%, -.3%) and Federal Reserve Rate Decision (upper bound 1%, lower bound .75%); Thursday: February Housing Starts and prior week Initial Jobless Claims (241K, -2K); Friday: February Industrial Production (.2%, +.5%) and the February Leading Index (.4%, -.2%).
Posted on Monday, March 13, 2017 @ 8:05 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
Search Posts
MARKET ANALYSIS
Market Commentary and Analysis
Market Commentary Video
Weekly Market Commentary
Weekly Market Watch
Monthly Talking Points
Quarterly Newsletter
Market Observations
Subscribe To Receive Email
 


 PREVIOUS POSTS
After 8 Long Years
A Snapshot Of Foreign Equities
A Snapshot of U.S. Styles/Market Caps
US Stocks Ended March 3, 2017
US Economy and Credit Markets Ended March 3, 2017
Passive Investment Vehicles Have Posted The Strongest Asset Growth Since The End Of 2007
U.S. Equities Have Boosted Their Global Standing In The Current Recovery
US Stocks Ended Feb. 24, 2017
US Economy and Credit Markets Ended Feb. 24, 2017
A Snapshot Of The Current Bull Market In Stocks Using The S&P 500 Index
Archive
Skip Navigation Links.
Search by Topic
Skip Navigation Links.

 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2021 All rights reserved.