With President’s Day falling on Monday of this week, traders get a much-needed break – and they certainly have earned it. The weeks since President Trump’s official start in office have been volatile, to say the least. While intraday price swings haven’t been huge, we have seen plenty of uncertainty take hold.
Traders continue to question just how effective a Trump presidency will be for the economy. And with key orders now being challenged in the courts, analysts estimate it will be a tough fight.
At least the economic data of late has been positive, but unfortunately, this week won’t feature a lot of it. However, what will be released – key measures of consumer sentiment, labor and housing – will be somewhat substantial. We’ll also get the latest minutes from the Federal Reserve’s FOMC meeting.
As for earnings, the blitzkrieg of reporting season has begun to slow down. By this week, more than 75% of companies will have reported, but there are several bellwethers still to announce over the next few days. These numbers are important, as are their guidance figures, in helping to shape what is to come.
All in all, the shortened week promises to be a doozy for investors.
Check out last week’s Market Glance here.