Last week, we saw the revival of the IPO market, with some incredibly large IPOs taking place in the form of Reddit (RDDT) and Astera Labs (ALAB). Reddit currently commands a market cap of roughly $7 billion, and Astera Labs’ market cap is around $10 billion. This is a great sign, as the IPO market has been stagnant for well over a year at this point in time.
Last week, we saw real estate metrics come in much better than expected, with home builder confidence, housing starts, building permits, and existing home sales all beating expectations. We also got to hear from the FOMC and a seemingly very dovish Jerome Powell, which was a great thing for markets. However, Lululemon ruined the part by announcing that they were seeing some issues with consumer spending, which dragged down the consumer discretionary sector on Friday.
This week, we have a rather busy week in terms of economic data releases. We start things off on Monday with new home sales, followed by consumer confidence and the S&P Case-Shiller home price index on Tuesday. We then get to see the 2nd revision of Q4 GDP and pending home sales on Thursday, followed by personal income and spending, PCE data, and a speech from Fed Chairman Jerome Powell on Friday. So, needless to say, we’re likely going to see quite a bit of volatility this week!
As we near the end of Q1 of 2024, things are slowing down in terms of earnings reports. However, there are still a few companies that have yet to report their Q4 earnings, such as:
03/26 – McCormick & Company (MKC/MKC.V)
03/27 – Cintas Corporation (CTAS), Paychex (PAYX), Carnival Corporation (CCL/CUK), Jefferies Financial Group (JEF)
03/28 – Walgreens Boots Alliance (WBA)
Everyone will be paying attention to CCL/CUK and this week, as they will give the market a good idea of how consumers are spending their disposable income (and if they have any to spend in the first place).
Watchlist Monitoring the market conditions this week.
Trade Wins from Last Week 
Sign up here to get the options day trade watchlist every single trading day and trade these levels with the team!