Market Outlook

Key Economic Indicators

Investors will focus on a series of economic data releases this week, despite the domestic stock exchanges being closed on Friday for the Good Friday observance. The March employment report is still scheduled for release, which will be a pivotal indicator. Additionally, investors will be monitoring the following key data releases:

• Consumer Confidence Index for March
• Retail Sales for February (delayed report)
• JOLTS Job Vacancy figures
• S&P Manufacturing and Services reports for March

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Federal Reserve Updates

Federal Reserve Chair Jerome Powell is scheduled to give a speech on Monday, March 30, which will be closely analyzed for potential shifts in monetary policy.

Energy Sectors

The energy sector is expected to remain volatile due to the expiration of Brent crude contracts on Tuesday, March 31. The ongoing conflict in West Asia has led to a surge in crude oil prices, with no clear end in sight. Investors fear that the war will disrupt the energy industry, leading to a rise in global inflation.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Automotive Sector

Tesla and rival automakers will release their monthly vehicle delivery statistics, which will be closely watched by investors.

US Economic Calendar

• Monday, March 30: Federal Reserve Chair Jerome Powell's speech
• Tuesday, March 31:
  • S&P Case-Shiller home price index (20 cities) for January
  • Chicago Business Barometer (PMI) for March
  • Job openings for February
  • Consumer confidence for March
• Wednesday, April 1:
  • US retail sales (delayed report) for February
  • ADP jobs for March
  • S&P final US manufacturing PMI for March
  • ISM manufacturing for March
• Thursday, April 2:
  • Initial jobless claims for the week ended March 28
  • US trade deficit for February
• Friday, April 3:
  • US employment for March
  • S&P final US services PMI for March

Earnings

The following companies are due to report their quarter results:

• Nike
• Beyond Meat
• ConAgra
• Lamb Weston
• Cal-Maine Foods

US Stock Market

Last week, the US stock indices closed out their worst week since the Iran war began. The key indices closed as follows:

• S&P 500: 6,368.85 (-1.7% on Friday, -2.1% for the week)
• Dow Jones Industrial Average: 45,166.64 (-1.7% on Friday, -1.7% for the week)
• Nasdaq Composite: 20,948.36 (-2.1% on Friday, -3.2% for the week)