A Weekly Economic Update

Alexis DuffyNewsroom

Newspaper
In this week’s recap: Confidence grows in resilient economy.

Presented by The PensionmarkMeridien Team, March 28, 2022

THE WEEK ON WALL STREET

With growing confidence in the economy’s resilience, stocks posted another week of solid gains.

The Dow Jones Industrial Average rose 0.31%, while the Standard & Poor’s 500 advanced 1.79%. The Nasdaq Composite index picked up 1.98% for the week. The MSCI EAFE index, which tracks developed overseas stock markets, added 0.27%. 1,2,3

STOCKS EXTEND GAINS

Markets bounced around all week as investors grappled with the crosswinds of rising yields, continued hostilities in Ukraine, and hawkish comments from Fed Chair Jerome Powell. After suffering declines in two of the first three trading sessions of the week, stocks turned higher on a good jobless claims number that investors interpreted as continuing economic strength.

Stocks drifted higher as the week came to a close amid rising bond yields, which on Friday saw the 10-year Treasury yield rise for the 13th time in 16 trading sessions. 4

LABOR MARKET

Many economists speculated that the invasion of Ukraine would likely shave economic growth in the short term as hostilities worsened supply chains and increased inflationary pressures. The impact, so far, has not been seen in the labor market.

Last week’s initial jobless claims fell by 28,000 to 187,000, the lowest level since December 1969. The number of people on state unemployment rolls fell to 1.35 million, from 1.42 million the previous week, while open jobs are at a near-record high of 11.3 million. Employers’ need for workers suggests that the demand for products and services has remained resilient despite the events in Eastern Europe. 5

TIP OF THE WEEK 

Consider setting up ground rules before you take someone into your home like a roommate or even a family member. It may be uncomfortable, but no one wants to argue over misunderstandings.

THE WEEK AHEAD: KEY ECONOMIC DATA

Tuesday: Consumer Confidence. JOLTS (Job Openings and Turnover Survey).
Wednesday: Gross Domestic Product (GDP). Automated Data Processing (ADP) Employment Report.
Thursday: Jobless Claims.
Friday: Employment Situation. Institute for Supply Management (ISM) Manufacturing Index.

Source: Econoday, March 25, 2022

The Econoday economic calendar lists upcoming U.S. economic data releases (including key economic indicators), Federal Reserve policy meetings, and speaking engagements of Federal Reserve officials. The content is developed from sources believed to be providing accurate information. The forecasts or forward-looking statements are based on assumptions and may not materialize. The forecasts also are subject to revision.

THE WEEK AHEAD: COMPANIES REPORTING EARNINGS

Monday: Nike, Inc. (NKE)
Tuesday: Adobe, Inc. (ADBE).
Wednesday: General Mills, Inc. (GIS).

Source: Zacks, March 25, 2022

Companies mentioned are for informational purposes only. It should not be considered a solicitation for the purchase or sale of the securities. Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost. Companies may reschedule when they report earnings without notice.

QUOTE OF THE WEEK

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“The battles that count aren’t the ones for gold medals. The struggles within yourself — the invisible, inevitable battles inside all of us — that’s where it’s at.”

JESSE OWENS

THE  WEEKLY  RIDDLE

New furniture will be delivered to your office on the day before five days from the day after tomorrow. If today is August 18, when will the furniture arrive?

LAST WEEK’S RIDDLE: Two lawyers sit at opposite ends of a large conference table. Nothing is in between them but the table, yet they don’t see each other. How is this possible?

ANSWER: They are both sitting so that their backs are turned to each other.

The PensionmarkMeridien Team may be reached at 866-871-9963 or meridienteam@pensionmark.com
https://pensionmarkmeridien.com/

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Pensionmark® Financial Group, LLC (“Pensionmark”) is an investment adviser registered under the Investment Advisers Act of 1940. Pensionmark® is affiliated through common ownership with Pensionmark Securities, LLC (member SIPC).

Investing involves risks, and investment decisions should be based on your own goals, time horizon, and tolerance for risk. The return and principal value of investments will fluctuate as market conditions change. When sold, investments may be worth more or less than their original cost.

The forecasts or forward-looking statements are based on assumptions, may not materialize, and are subject to revision without notice.

The market indexes discussed are unmanaged, and generally, considered representative of their respective markets. Index performance is not indicative of the past performance of a particular investment. Indexes do not incur management fees, costs, and expenses. Individuals cannot directly invest in unmanaged indexes. Past performance does not guarantee future results.

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Citations:
1. The Wall Street Journal, March 25, 2022
2. The Wall Street Journal, March 25, 2022
3. The Wall Street Journal, March 25, 2022
4. The Wall Street Journal, March 25, 2022
5. CNBC, March 24, 2022