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Morning Matters:

The Week Ahead
by Geoff Garbacz

April 30, 2018

The Dow Jones Industrial Average, S&P 100, NASDAQ 100 and Russell 2000 were all modestly lower on a weekly. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average, Russell 2000 and the S&P 100 remain positive.

1.Geopolitical and Fiscal Events. Wednesday sees FOMC announce its latest interest rate decision.

2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims as well as personal income, Chicago PMI, construction spending, factory orders, nonfarm payrolls and the unemployment rate.

3.Earnings Releases. Notable releases next week include MCD AGN AAPL PFE MA KHC DWDP EOG BABA CELG.

Monday, April 30

March Personal Income is due out at 8:30 a.m. EDT and is expected to fall to 0.35% from 0.40%.

President Trump

April Chicago PMI is due out at 9:45 a.m. EDT and is expected to rise to 58 to 57.4.

Tuesday, May 1

March Construction Spending is released at 10:00 a.m. EDT and expected to rise to 0.50% from 0.07%.

At the same time, March New Home Sales are due out and expected to rise to 630,000 from 618,000.

The Federal Reserve Open Market Committee (FOMC) begins its latest two day meeting that leads up to the interest rate decision at 2:00 p.m. EDT on Wednesday.

Wednesday, May 2

The Federal Reserve Open Market Committee (FOMC) announces its latest interest rate decision at 2:00 p.m. EDT.

Thursday, May 3

March Factory Orders are reported at 10:00 a.m. EDT and are expected to rise to 1.30% from 1.20%.

Friday, May 4

April Nonfarm Payrolls are released at 8:30 a.m. EDT and are expected to come in at 187,500 from 103,000. The unemployment rate is expected to fall to 4.0% from 4.1%

Berkshire Hathaway Chairman Warren Buffet holds his annual shareholder meeting over the weekend.

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