Good morning traders!
The S&P 500 ($SPY) is trading near yesterday’s close. Let’s get into it…
US markets remained relatively unchanged this morning following the S&P 500’s third consecutive positive sessions, with concerns about the banking sector appearing to ease. The banking sector will remain in the spotlight this week as earnings and economic calendar events take center stage. Regional bank stocks are trading higher, and big bank stocks are seeing a slight rebound. Despite recent bets amid the bank fallouts, BlackRock Investment Institute strategists have signaled that the Federal Reserve will continue to raise rates. On Monday, a series of positive news reports boosted sentiment on Wall Street, resulting in eight of eleven S&P 500 sectors finishing positively. Additionally, earnings season continues with results from Micron Technology, Lululemon, and Dave & Buster’s. The Federal Reserve’s Vice Chair for Supervision, Michael Barr, is scheduled to appear before the Senate Banking Committee.
Monday Economic Events:
International Trade in Goods 8:30am ET
Wholesale Inventories 8:30am ET
Redbook Sales 8:55am ET
Case Shiller HPI 9:00am ET
FHFA HPI 9:00am ET
Consumer Confidence 10:00am ET – High Volatility Expected
Richmond Fed Mfg Index 10:00am ET
API Crude Oil Data 4:30pm ET
Fed Speaker Scheduled:
Michael Barr 10:00am ET
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