By Bill Hornbarger, Chief Investment Officer
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Three Things to Watch
- All eyes will be on the U.S. Federal Reserve (Fed) this week. The Fed will conduct a two-day meeting culminating with a policy announcement Wednesday afternoon. Interest rates are widely expected to remain unchanged, but the dot plot will be updated and Fed Chairman Powell will hold a press conference. The Fed has indicated that they will remain patient to make sure inflation remains in check and also to gauge the impacts of the new administration’s policies.
- Retail sales for the month of February are expected to rebound from a soft January reading. January featured two major winter storms and wildfires, which depressed activity. For the month of February, advance retail sales are expected up 0.6%, and ex autos and gas spending is expected up 0.3%.
- Other February data releases include leading indicators, housing starts and industrial production. March data (when market volatility increased) includes the National Association of Home Builders survey, the Empire State Manufacturing survey, jobless claims and the Philly Fed Business Index. The March data appears to be softer than February readings.
Three Things to Know
- An American Gaming Association survey projected that $10.4 billion would be gambled during March Madness, and the odds of creating a perfect bracket are 1 in 9.2 quintillion. (Source: www.leaderunion.com)
- St. Patrick’s Day commemorates the arrival of Christianity in Ireland. It happened in the year 432. (Source: The Fact File)
- More than 100 Saint Patrick’s Day parades are held across the United States each year. Almost 12% of Americans claim Irish ancestry. More people of Irish ancestry live in the United States than in Ireland. (Source: The Fact File)
The above information reflects the current opinion of the author. It is 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 mentioned.