Market Direction: BULLISH alert issued 02/20/2014
Economic data released this past week was positive on several fronts. The March employment report indicated job growth of 192l,000. According to the report, all of these new jobs were in the private sector. More importantly, increases in hiring for both January and February bolstered the March numbers. There was also an increase in the average hours worked. However, the unemployment rate remained the same at 6.7%. As it relates to the employment numbers, it is interesting to note that the private sector has added 8.9 million jobs since 2010, recovering all the 8.8 million jobs lost during the most recent recession.
Very little economic data is due for release this week. Market catalyst for this week include the start of first quarter earnings from Alcoa. Additionally, several US Banks will begin providing results on Friday and FOMC minutes will be released on Wednesday.
Economic Calendar: FOMC minutes (4/9)
Some of the major earnings announcements on deck: AA, WDFC, BBBY, RT, FDO, RAD, FAST, JPM, WFC
$tockMarketDirection is in a BULLISH posture. We strongly encourage our many bloggers/followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current posture. Cha-ching.
$tockMarketDirection is in a BULLISH posture. We strongly encourage our many bloggers/followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current posture. Cha-ching.
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