Looks like the market is going to be opening flat after yesterday’s surge.  We expect the next three days to bring a lot of headlines and potential volatility:

  1. Today at 12:30pm EST Fed Chairman Powell and Treasury Secretary Mnuchin will be testifying to the House in DC.  In Powell’s prepared testimony, he spoke of extraordinary uncertainty in the economic outlook.  Ya think?
  2. Tomorrow we get Manufacturing sentiment from the closely watched ISM indices.  After a historic drop during the initial shutdown, consensus is looking for a move toward expansion in manufacturing.
  3. Thursday the Labor Department releases the monthly payroll employment report.  Who the heck knows?  Economist estimates have been off by literally millions.

 

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