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$395.75  $2.58  0.66%  
$310.89  $1.14  0.37%  
$322.32  $1.48  0.46%  
$171.79  $1.54  0.90%  
$160.25  $1.32  0.83%  
$190.41  $1.81  0.94%  
$280.57  $2.91  1.05%  
$206.01  $1.73  0.85%  
$105.44  $0.16  0.15%  
$98.13  $0.58  0.59%  
$267.79  $4.12  1.52%  
$328.39  $8.02  2.50%  
$351.63  $2.74  0.77%  
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$60.90  $0.98  1.64%  
$283.02  $0.89  0.31%  
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The End of Earnings Season

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Last Week’s Market Activity

This past week was categorized by widespread green in the market, with the S&P, Russell, and Dow all up just under a percent, week-over-week, and the Nasdaq up just over a percent.  This jump was driven by some pretty great earnings from very important companies, like Target, Salesforce, and more.  Additionally, in terms of economic data releases, things were relatively quiet last week, with no major releases, and mostly good news in terms of the minor releases.  This week, we’re in for another relatively quiet week with very little going on in the market.

Macroeconomic Indicators

As we mentioned before, the past week was relatively quiet.  There was some excitement about some key companies, most notably Salesforce.  The legacy tech giant beat Wall Street’s expectations and provided guidance that exceeded forecasts for almost every metric, leading the stock up nearly 14% week-over-week.  In terms of broader market news, we saw pending home sales jump 8.1%, versus an expected 0.9%.  This shows that the brief drop in mortgage rates we’ve seen lately has led to a buying spree. 

Upcoming Market Catalysts

This week will remain relatively quiet in terms of both economic data releases as well as earnings releases.  On Tuesday, we’ll get to see some numbers on consumer credit, which will give us a better idea of how the consumer’s personal balance sheet is faring.  We’ll also get to hear about some key labor statistics on both Wednesday and Friday.  On Wednesday, ADP unemployment and job openings will be released, and on Friday, we’ll see the unemployment report, as well as the unemployment rate.  These metrics will tell us which direction the labor market is trending.  

Notable Earnings Releases

This week, earnings season begins to slow down, with some smaller retailers and tech companies reporting earrings, such as:

03/06 – Trip.com Group (TCOM)
03/07 – Sea Limited (SE), CrowdStrike Holdings (CRWD), Dick’s Sporting Goods (DKS)
03/08 – Brown Forman Corporation (BF.A/BF.B), Campbell Soup Company (CPB)
03/09 – Oracle Corporation (ORCL), JD.com (JD), Ulta Beauty Inc. (ULTA), DocuSign (DOCU), BJ’s Wholesale Club Holdings (BJ), Vail Resorts (MTN)

As well all know, the consumer is the driving force of our economy, and companies like TCOM, DKS, CPB, ULTA, and BJ will give us an idea of where the consumer is spending their money, and if they are cutting back in any specific areas.  

We’ll also get to hear from some smaller tech companies, like DOCU and CRWD.  It will be interesting to hear about their strategy going forward, since Wall Street has been prioritizing profitability over growth as of recently, which is not something that these companies excel at.  

⚡ Watchlist ⚡

Monitoring the market conditions this week.

⚡ Trade Wins from Last Week ⚡

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