Monday's Market Minute: Market Movers To Start March

Let’s take a minute to get ahead of what could move markets this week. First, interest rates: I think this week you’re going to be hearing a lot about rates, which continue to spike. The TYX reached just shy of 2.5%, and the TNX moved up and through 1.5%. In the past, we’ve covered how rates to the upside aren’t really a big deal considering how they’re still at historically low levels, but the rate in which they’re spiking is important and that’s what’s got investors concerned. A spike in rates could create headwinds for the indices, which have been trending higher, and headwinds to some of the other trends tied to rates at historic lows, like the robust housing market we’ve seen here in the U.S., copper, crude, and a weak U.S. Dollar, to name a few.

Keep an eye on gold. It spiked lower last week below $1,750 to an eight-month low, while at the same time last week Bitcoin saw another new all-time high just shy of $58,000. Also, we have some economic data to watch this week. Here in the U.S., it's the ISM manufacturing and services data due out to begin the week, but most will be looking ahead to the jobs report Friday. There's a fair amount of data due out Internationally as well, everything from the jobs reports out of Japan to eurozone retail sales.

In addition to economic data, I think we should be watching out for a few companies as the focus on retail continues. We have a handful of closely-watched names like Target Corporation TGT, Kohl’s Corporation KSS, Nordstrom, Inc. JWN, Ross Stores, Inc. ROST, and Dollar Tree, Inc. DLTR all reporting quarterly results and providing further insight as to existing consumer trends. Energy markets remain bid and continue to feed into the inflation narrative with commodity prices in general on the rise; last week crude oil topped out around $63.80 and gasoline futures traded to just shy of two dollars. So, lots to keep an eye on this week, and plenty of potential market movers ahead to stay dialed in on!

Photo by George Morina from Pexels