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Key events and releases for next week

What Key events and releases will be on the schedule next week?

Monday, April 4

  • Spanish employment statistics, 3 AM ET/0700 GMT. Forecast 15.3K vs -11.4K last week
  • BOE Bailey speaks. 5:05 AM ET/0905 GMT
  • US factory orders, 10 AM ET/1400 GMT. Estimate -0.5% versus 1.4%
  • Bank of Canada business outlook survey. 10:30 AM ET/1430 GMT

Tuesday, April 5

  • Reserve Bank of Australia interest rate decision. Estimate unchanged at 0.10%. Focus will be on the expectations for future rate hikes. Most economists expect a rate hikes to begin in the 2nd half of the year. See post here.
  • US trade balance, 8:30 AM ET/1230 GMT. -88.5 billion versus -89.7 billion last month
  • US ISM services PMI, 10 AM ET/1400 GMT. Estimate 50.6 versus 56.5
  • FOMC Brainard speaks at 11:05 AM ET.
  • FOMCWilliams speaking. 2 PM ET/1800 GMT

Wednesday, April 6

  • German factory orders, 2 AM ET/0 600 GMT. Estimate -0.2% versus 1.8% last month
  • Canada Ivey PMI data. 10 AM ET/1400 GMT. Estimate 60.3 versus 60.6 last month
  • Weekly crude oil inventory data. 10:30 AM ET
  • FOMC meeting minutes. Fed hikes rates for the first time by 0.25% and raised the estimate for end of year 2022 target rate to 1.9%

Thursday, April 7

  • US unemployment claims, 8:30 AM ET/1230 GMT. Estimate 201K versus 202K last week
  • FOMC’s Bullard speaks. 9 AM ET/1300 GMT

Friday, April 8

  • Japan consumer confidence.1 AM ET. Estimate 36.9 versus 35.3 last month
  • Canada employment change. 8:30 AM ET/1230 GMT. Estimate 65.5K versus 336.6K last month. Unemployment rate 5.4% versus 5.5%

Stocks push higher into the close. Snatch victory from the jaws of defeat

The major indices are closing higher after a late session surge take the Dow and S&P toward the highs and reverse declines in the NASDAQ index.

The major indices  snapped a two day decline. The Russell 2000 index was the biggest gainer today.

The final numbers are showing:

  • Dow industrial average up 139.92 points or 0.40% at 34818.28
  • S&P index up 15.45 points or 0.34% at 4545.87
  • NASDAQ  index up 40.99 points or +0.29% at 14261.51
  • Russell 2000 index rose 20.98 points or 1.01% at 2091.11

Looking at the major sectors in the S&P index, the gainers today included:

  • real estate , +1.9%
  • utilities +1.4%
  • materials +1.1%

The major decliners today included:

  • industrials, -0.8%
  • technology -0.3%
  • financials -0.2%

For the trading week, the Dow and S&P were little changed. The NASDAQ rose modestly:

  • Dow industrial average, -0.07%
  • S&P index +0.07%
  • NASDAQ +0.63%