The Dow Jones has closed in positive territory in each of the past three regular trading days, +0.3% on the day, just shy of 100 points total. The S&P 500, which was touch and go to the very end of the session, closed down a trifle: -0.08%. The Nasdaq finished 0.60% lower, while the Russell 2000 took another bath today, down 2.83%. The small-cap index appears to be off its all-time highs two weeks ago to the day, now down more than 9% over that period.
This will be a significant week for economic reads, but there was nothing released of note this Monday. Other than the “margin call heard ‘round the world” at Archegos Capital, where initial reports point to mismanagement at the top and has already hit bigger companies like Credit Suisse (SIX:CSGN) CS, there wasn’t much for investors to take their cues from today. That changes with this week’s monthly employment prints, along with home prices from early in Q1 and Manufacturing rates.
Tomorrow brings us Case-Shiller home prices for January, followed by Wednesday’s ADP ADP private-sector payroll report, Thursday’s Initial and Continuing Jobless Claims and Friday’s nonfarm payrolls report from the U.S. government. Also, Markit PMI and ISM Manufacturing results for March will also be out, both of which are expected to gain slightly month over month.
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