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The low of April is currently 4068.75. These markets have been climbing in the overnight session, and have peeked above 4100.00. The big number is the open of the month and quarter, 4127.00. Early action shows strength. With both news and earnings coming, that strength could be temporary. At present, the market is moving towards the 4127.00 open of the month. How will the market react to the news this morning? Perhaps it will rally and make Friday all about 4127.00.
Though with the time winding down, every move away from 4127.00 could be meaningful. The real question is, which side of 4127.00 will the month close on?
Over 70% of stocks track with the S&P 500 Futures
Major Events:
Apr 28 Core PCE Price Index
May 1 ISM Manufacturing PMI
May 2 JOLTS Job Openings
May 3 ADP Employment
May 3 FOMC Statement and Press Conference
Key Numbers Opens: Above or Below
4150.00 is the open of the Week
4127.00 is the open of the Quarter
4085.50 is the open
3968.50 was the open of March 2023
3895.00 is the open of 2023
What's Hot and Not!
Big Earnings this Week
Over 600 earnings reports today. The list is long, but both before the bell, and after, earnings reports highlight the day. The market reaction to these reports on the penultimate day of the month will set the stage for a Friday showdown. Combined with earnings from this morning is our first look at first quarter GDP.
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