All three main indices posted weekly, monthly and quarterly gains
What the last week of trading in March lacked in length was more than made up for by market-moving headlines and volatile stock action. News that Hwang’s Archegos Capital Management has been forced into liquidation $ 30 billion equity holdings cast a long shadow over the week, rocking several key sectors in which the fund had a significant stake, including media and finance. While the Dow was able to shake off the news to claim its third straight win, The Nasdaq and S&P 500 did nowhere near as good on Monday. On Tuesday, bond yields were back in the limelight and weighed heavily on them Big techIn particular, according to the closely watched 10-year Treasury, the yield rose to its highest level in almost 15 months.
The month of March (and the first quarter of 2021) ended on Wednesday, and tech-rich Nasdaq made notable comebacks for both of them FAANG names roared back to life. This was the fifth straight monthly profit and the fourth straight quarter in which they were in the black. The Dow and S&P 500 also posted monthly and quarterly gains. Meanwhile, Wall Street has been pondering President Joe Bidens $ 2 trillion infrastructure spending plan. The spending plan received one positive answer of traders so far, with all three major indices trying to start the new month with sizeable gains, like The S&P 500 tops the 4,000 level for the first time.
Earnings Season Laggards take center stage
While the tide of gains has definitely slowed for most of February and March, a few big names have still emerged this week and investors have taken turn to act. Cal-Maine Foods (CALM) started the week with Profit in the third quarter of the fiscal year that exceeded expectations, even though the stock didn’t quite take advantage of the beat. Pet e-tailers Tough (CHWY) had better luck after the fourth quarter report. No fewer than three analysts have raised their price targets.
BlackBerry’s (BB) earnings release had the opposite effect on analysts, bringing the tech name several reduced price targets as well as one Downgrade from Canaccord Genuity “hold”. We also looked at the stock performance of the specialist retailer Zumiez (ZUMZ) a few weeks after the IPO third win in a row. We also analyzed the Conn’s (CONN) retail name. Finances ahead of its quarterly report released yesterday March 31st.
Analyst sentiment stocks are moving this week
The brokerage group had a lot to say this week, for the benefit (or disadvantage) of many well-known names. Most of the coverage looked positive. Roku (ROKU) seemed ready to get back on his feet after Tuesday Update by Truist Securities. The analyst also upgraded his Twitter (TWTR) rating to “buy” from “hold”. attract the attention of call traders.
Howl (YELP) and Applied Materials (AMAT) also had tailwinds after high analyst upgrades, while the latter rose to a fresh high following the Bull Note. Harley-Davidson (HOG) joined in and got a boost from Baird who became bullish for the first time since 2016 on equity.
Fed Minutes Headline First full week of April
Investors will come back to many from a long Easter weekend Economic data in the first full week of April. The minutes of the Federal Open Market Committee (FOMC) meeting will certainly attract attention. The results calendar includes Conagra (CAG), Constellation Brands (STZ) and JinkoSolar (JKS) and Levi Strauss (LEVI) will all appear in the denominational result. In the meantime, traders may want to keep an eye on the S&P 500 recent outperformance the Nasdaq and what that could mean for stocks that are moving forward. A focus on small caps This might be a good idea too, as Senior Vice President of Research Todd Salamone provides guidance on how investors can use these stocks to manage stock risk.