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Welcome to Tax Day! The filing deadline for US income taxpayers is tonight at Midnight. Don’t forget!
Our trading day today offers key updates on housing, which has had a slow start this year, and manufacturing where signs have been mostly strong.
The US Census Bureau reported March Housing Starts this morning. The residential construction business had a strong March: housing starts topped most estimates at a 1.319 million annualized rate while housing permits increased to 1.354 million.
The Federal Reserves’ March Industrial Production report was also released before the bell. Industrial production rose 0.5 percent in March for a 4.3 percent year-on-year rate with mining once again leading the report, jumping 1.0 percent on top of February’s 2.9 percent increase to lift year-on-year volumes to a 10.8 percent gain.
Earnings season continues today. Comerica, Johnson & Johnson, UnitedHealth Group, Goldman Sachs, Northern Trust, Intuitive Surgical and Lam Research are among the notable listings that hold conference calls to discuss their results.
What Is Quad Witching? Quadruple witching is an event in financial markets when four different sets of futures and options expire on the same day. Futures and options are derivatives, linked to underlying stock prices. When derivatives expire, traders must close...
Register for Market Trends here. Sizing Up the S&P 500 S&P 500 rises 7 straight sessions, longest positive streak since November 2021 Nasdaq-100 up 8 straight sessions, longest positive streak since October 2021 S&P 500 holds monthly channel similar to...
Downloads are available here. MACD cross days available here. Register for Market Trends here. Sizing Up the S&P 500 S&P 500 forming inside bar after large bullish weekly candle VIX falls below February 2020 low Breadth potentially widens as...