The Dow Jones Industrial Average and S&P 100 were lower for the week, and the NASDAQ 100 was the only major equity index higher for the past week. The Russell 2000 was lower again for a third week in a row. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average and the S&P 100 remains positive.
1. Geopolitical Events. On Monday the CBO releases its review of the Republican fix to Obamacare. On Tuesday German Chancellor Merkel visits with President Trump. Also on Tuesday the FOMC two day meeting concludes, most with a rate increase on Wednesday. Also on Wednesday the White House releases its 2018 budget. Finally, on Wednesday Secretary of State Tillerson begins a overseas trip. On Thursday the BOJ and BOE issue rate announcements. Also on Thursday Irish Prime Minister Kenny meets with President Trump. On Friday the G-20 meets.
2. Economic Releases. Releases of note this week include the weekly chain store sales, oil/gas numbers, mortgage applications, jobless claims and PPI, CPI, retail sales, housing starts, industrial production, leading indicators and Michigan Sentiment.
3. Earnings Releases. Notable releases include TACO TLYS HDS DSW ORCL JBL ADBE DG PRGO TIF.
Monday, March 13:
The Congressional Budget Office (CBO) releases its analysis of the Republican’s alternative to Obamacare.
Tuesday, March 14:
German Chancellor Angela Merkel pays a visit to Washington D.C. to meet with President Trump.
The Federal Reserve Open Market Committee (FOMC) begins a two day meeting that will likely conclude with the first interest rate increase in 2017.
February PPI is due out at 8:30 a.m. EDT and is expected to fall to 0.1% from 0.6%.
Wednesday, March 15:
The Federal Reserve Open Market Committee (FOMC) concludes a two day meeting with their announcement at 2:00 p.m. EDT. At 2:30 p.m. EDT, Federal Reserve Chairman Janet Yellen holds a press conference.
The White House releases its budget for fiscal 2018.
The Netherlands holds a general election that will be a good test on how the wave of populism may fair in other elections like France and Germany.
Secretary of State Rex Tillerson visits Japan as he begins a series of multi country visits.
Cemex (CX) holds their analyst day and is a Type 4 Long Squeeze.
February CPI is due out at 8:30 a.m. EDT and is expected to fall to 0% from 0.6%.
February Retail Sales are due out at 8:30 a.m. EDT and are expected to fall to 0.1% from 0.4%.
Thursday, March 16:
Irish Prime Minister Enda Kenny meets with President Trump.
Overnight the Bank of Japan (BOJ) and the Bank of England (BOE) are out with their latest decisions. The BOE will be at 7:00 a.m. EDT.
February Housing Starts are due out at 8:30 a.m. EDT and are expected to rise to 1,260,000 from 1,246,000.
Friday, March 17:
G-20 Finance Ministers meet in Germany.
Secretary of State Rex Tillerson visits South Korea and then China over the weekend
February Industrial Production is due out at 9:15 a.m. EDT and is expected to rise to 0.20% from -0.25%.
February Leading Indicators are due out at 10:00 a.m. EDT and are expected to fall to 0.4% from 0.6%.
March Michigan Sentiment is due out at 10:00 a.m. EDT and is expected to rise to 97 from 96.30.
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