Monday's Market Minute: Three Things To Watch This Week

There’s another busy week ahead, so let’s take a market minute to get ahead of the three things you should be dialed in on.

First we have the last of the big banks reporting today, Goldman Sachs GS and Bank of America BAC are set to release quarterly results this morning. But this week we also have IBM IBM, Netflix NFLX, JB Hunt JBHT, Tesla TSLA, AT&T T, DR Horton DHI, and American Express AXP to name a few. This week, it will be key if we start to hear about how the rising U.S. Dollar has been a headwind or if executives in earnings calls mention that it’s a factor in the upcoming quarter. The greenback traded to new 20-year highs last week, all while Gold futures took out 1,800 and are testing key support while rates remain rangebound.

Second, the focus will be on housing in terms of this week’s ecodata with the Housing Market Index kicking things off Monday. We have Housing Starts and Permits on Tuesday, while Wednesday brings Existing Home Sales and the Philly Fed. Leading Indicators will round out the week on Friday.

Lastly, keep an eye on the weekly Jobless Claims which have been trending ever so slightly higher. Keep in mind the Fed has been clear that the economy and labor conditions can sustain the expected rate hikes to come. If the weekly claims keep rising, it may suggest otherwise.

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