Monday's Market Minute: Economic Data To Watch

It’s probably one of the busier weeks so far this year in terms of closely-watched economic data here in the U.S., let’s take a market minute to get ahead of what you should be keeping an eye on.

First and foremost, you’re going to be hearing a lot about how the FOMC meeting begins Tuesday, and Wednesday we’ll hear from Fed Chair Jerome Powell, but we also have Durable Goods Orders, Housing data, weekly Jobless Claims, and Personal income and Spending, all of which have potential to stir markets. In terms of the Fed, expectations are that they’ll leave rates unchanged and bond purchases as is once again, as the highly accommodative “wait and see” mode remains the course. It’ll be interesting to see how they address the better-than-expected economic data we’ve been seeing.

This week, most notable will be GDP and the inflation data due out Friday: Personal Income and Spending is one of the Fed’s key measures of inflation. Keep an eye on rates if the data shows signs of inflation heating up; we could see a retest of the TYX 2.50% and TNX 1.75% resistance areas. In terms of companies reporting quarterly results, this week it’s all about tech; we have Tesla TSLA, Alphabet GOOGL, Apple AAPL, Facebook FB, Microsoft MSFT, and AMC AMC, to name a few. In terms of products to watch, bitcoin sold off from all-time highs last week and got back below the 50-day moving average, and crude has been hovering around its 50-day moving average as copper and gold have firmed up some and the U.S. dollar is struggling again.

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