Prior Trading Day Summary:
Prior Trading Day Summary:Yesterday stocks continued their decline on heavier volume which indicates either stocks have reached a low of some kind or we can expected the correction to last longer and move to the 200 day moving average.
Stock Market Outlook for Wed Mar 5 2025
I was taken sick last night. I picked up a bug visiting my friend in the hospital. Apologies for many of the articles today will be shorter and there is no watch list.
President Trump spoke last night and often we can see a bump higher after a lengthy address. He covered much ground and laid out the case for his agenda. We could see a Trump Bump in the morning but the afternoon may see more selling.
The ADP numbers this morning were disappointing coming in at half of what was expected at just 77,000 new jobs. That points to a slow down ahead. However the S&P final US Services PMI came in higher than expected at 51% which indicates expansion. So the picture from the report front is still mixed.
Potential Economic and Political Market Moving Events
Monday:
9:45 S&P final manufacturing PMI was higher than expected at 52.7 which defied the outlook for a recession
10:00 Construction spending fell lower than expected to -0.2%
10:00 ISM manufacturing slipped to 50.3% but was still above 50% which is a signal of expansion
Tuesday:
There are no economic reports
Wednesday:
8:15 ADP employment report is expected to show 148,000 job but came in at 77,000
9:45 S&P final services PMI came in higher than expected at 51%
10:00 Factory orders are expected to show a jump of 1.6%
10:00 ISM services is expected to rise to 51.9% from 52.8%
2:00 Fed’s Beige Book