Hey All, I hope you are doing great in this strong bullish market we’re experiencing in 2021! Get my take on where to next;
WEEKLY SOUND BITES:
Major indexes recorded their fourth consecutive week of gains and moved to record highs… overall sentiment seemed to get a boost from Wednesday’s release of earnings results from banking giants JPM, GS and WFC…Analysts currently expect overall earnings for the S&P to have grown by roughly 25% in the quarter on a year-over-year basis, the most since the sharp cut in corporate tax rates that took effect in 2018…
March retail sales, reported Thursday, grew by 9.8%, the most since May…Weekly jobless claims came in at 576,000, well below expectations and a new pandemic-era low. The University of Michigan’s preliminary gauge of consumer sentiment also reached its best level (86.5) since the pandemic began but came in a bit below consensus expectations…The week also brought important inflation data. Headline consumer prices rose 0.6% in March, while core (less food and energy) prices rose 0.3%, both moderately above consensus expectations. Import prices rose 1.2% in the month, also above forecasts…
Despite stronger-than-expected economic data, U.S. Treasury yields fell over the week, with the 10-year Treasury note yield declining to 1.57% from 1.67% the previous Friday…The sector saw further compression in credit spreads—the yield differential between higher- and lower-quality bonds of similar maturity…
Shares in Europe rose on hopes of a strong recovery in the global economy and corporate earnings, despite a resurgence in coronavirus infections… England, which has vaccinated almost two-thirds of its population, started reopening shops, personal care services, and outdoor dining this week while France, Germany, and Italy began to accelerate their vaccination campaigns…
The Shanghai Composite broad market index of A-shares fell 0.7% over the week to Friday… investors appeared unsure whether strong GDP data would bring forward liquidity tightening or if disappointing March industrial production data would give the authorities cause to pause… The economy surged 18.3% year over year in the first quarter, albeit versus a very low base in 2020…retail sales beat consensus estimates (33.9% versus 28%), and industrial production missed (14.1% versus 18%) while exports rose 30.6% in March in U.S. dollar terms…exports were a key growth driver for China in 2020…
Enjoy this Week’s Round-Up;
Don’t Be A Rat Brain Trader – Be the Red Stripe Zebra !!
Trade Smart !
hpb
