Wall Street week ahead: Investors’ focus on Trump tariffs, jobs data, commodities

Wall Street: Focus of stock market investors in the week ahead will be mainly on US President Donald Trump’s reciprocal tariffs and a 25 per cent tariff on automobile imports, expected to implemented on April 2.

In terms of economic reports, the market participants will get plenty of data, including employment numbers and manufacturing & services PMII readings, to analyse.

The commodity markets will also remain in focus over the coming days after gold and copper prices surged to new record highs last week on worries over trade war.

Economic calendar

On March 31 (Monday), a report on Chicago Business Barometer (PMI) for March will be released.

On April 1 (Tuesday), separate reports on S&P final US manufacturing PMI for March, construction spending for February, ISM manufacturing for March, job openings for February, and TBA Auto sales for March will be released.

On April 2 (Wednesday), data on ADP employment for March and factory orders for February will be declared.

On April 3 (Thursday), separate reports on initial jobless claims for the week ended March 29, US trade deficit for February, S&P final US services PMI for March, and ISM services for March will be released.

On April 4 (Friday), US employment and unemployment report for March will be unveiled. Federal Reserve Chairman Jerome Powell’s speech is also scheduled on this day.

Earnings

Following companies are due to report quarterly earnings in the week ahead — Loar Holdings, PVH, Progress Software, TechTarget, nCino, UniFirst, Penguin Solutions, RH, Conagra Brands, Acuity Inc, Lamb Weston, MSC Industrial Direct, and Lindsay.

Markets last week

US stocks ended sharply lower on Friday on worries over worsening inflation and slowing US economy due to the global trade war.

The S&P 500 declined 1.97 per cent to end at 5,580.94 points. The Nasdaq fell 2.70 per cent to 17,322.99 points, while the Dow Jones Industrial Average dropped 1.69 per cent to 41,583.90 points.

For the week, the S&P 500 fell 1.5 per cent, the Nasdaq declined 2.6 per cent, and the Dow fell about 1 per cent.

In the bond market, the yield on the 10-year Treasury tumbled to 4.25 per cent from 4.38 per cent.