Monday's Market Minute: The Week Ahead For Traders And Investors

Looks like the focus this week will be on the Fed: Powell, Rosengren, Williams, and Brainard are set to speak. Jobs and housing data will also be closely watched. Weekly jobless claims are still trending lower; last week’s 3.2M job loss was half of the 6.6M we saw in the initial surge related to the pandemic back in the beginning of April. The market has managed to shrug off the historic job loss numbers and seems to be focused more on policy and lawmakers’ efforts to help stimulate the economy through the difficult times ahead. On Wednesday, the FOMC will release the minutes from their last meeting which could provide further insight as to the Fed’s position on negative rates and their stance on the economy. Keep an eye on tech, as it’s been hot and leading the market rally off the March lows. Also, keep an eye on Crude Oil, with the bid back above 30 dollars in the WTI. The rally we’ve seen in the last few weeks is a reflection of the optimism tied to shut-ins being lifted and businesses reopening, and therefore expectations that the worst of the demand destruction we’ve seen could be behind us. Last week, the EIA reported a draw in inventories – a small one but a draw of 700K nonetheless. Stay tuned to the TDAmeritrade Network for coverage of all the breaking headline news this week and analysis of market reaction to…the information you crave about the markets you trade.

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