March 28, 2024 7:18am

Is a quarter’s end re-balancing in play beside inflation data?

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Although the market will be closed due to Good Friday, economic data tied to personal income, consumer spending and personal consumption expenditures will be released.

Never leave an investor uninformed!

Remember that overnight and pre-open actions’ futures and global markets doesn't necessarily translate into actual trading in the today’s market session.

More frequently right than consequentially wrong

I also follow the dictum, quoting Churchill that “short words are best, and the old words when short are best of all.”

 

Thursday: The pre-open Dow futures are DOWN -0.02% or (-7 points), the S&P futures are DOWN -0.06% or (-3 points) as the Nasdaq futures are DOWN -0.07% or (-13 points)

Stock futures were floating down Thursday

European markets moved higher

Asia Pacific markets were mixed

 

Henry’omics:

We need to more than consider the economic environment to comprehend the micro re “our” universe of cell and gene therapy companies …

Wednesday, the Dow closed UP +477.75 points or +1.22%, the S&P closed UP +44.91 points +0.86% while the Nasdaq closed UP +83.82 points or +0.52%

As of Wednesday’s close, the S&P 500 is up about 3%, the Nasdaq and the Dow are up roughly 1.9% month to date.

The major averages are poised to end the Q1/2024 on a strong note.

  • The S&P 500 is tracking for a 10% advance, pacing for its best first-quarter gain since 2019 when it added 13.1%. The 30-stock Dow is up about 5.5%, and on pace for its best first-quarter gain since 2021, when it added 7.4%. The Nasdaq is up roughly 9.3% over the quarter. <CNBC>

Economic Data Docket: Q4/23 GDP growth, 3rd estimate (+3.2% annualized pace expected; +3.2% annualized pace previously); Initial jobless claims, week ended March 23 (210,000 previously); Pending home sales, February (-4.9% previously); University of Michigan consumer sentiment, March (79.4 previously); Kansas City Fed manufacturing activity, March (-4 previously)

 

From the title: What is Occam's razor? is a problem-solving principle that recommends searching for explanations constructed with the smallest possible set of elements.

  • Popularly, the principle is sometimes paraphrased as "The simplest explanation is usually the best one."

 

Wednesday’s night RegMed Investors (RMi) Closing Bell: “RegMed Investors (RMi) Closing Bell: The anxiousness of the session was abrogated with a risk appetite satisfied. As “uncle algorithm and his electronic trading dwarfs” scaled the wall of worry close to the end of March and Q1/24.” … https://www.regmedinvestors.com/articles/13393

 

Q1/24: march – 8 positive and 11 negative closes

  • February – 1 market holiday, 11 positive and 9 negative closes
  • January: 2 holidays, 11 negative and 8 positive closes

 

Companies in my headlights – It’s your decision; I provide ideas and context:

I post about “indication intelligence” devoting my time to collection and analysis of information to assist investors with insight into sector vulnerabilities and strengths. A dictionary definition of “indicate” refers to something less than a certainty; an indication could be a signal of being oversold or overbought, a recommendation, or grounds for inferring or a basis for believing.

 

Yet again, I am passing on forecasting the daily indications is focused on inflation-oriented GDP growth, initial jobless claims, pending home sales, Un of Michigan consumer sentiment and Kansas City Fed manufacturing activity.

  • The aftermarket fluctuated as the pre-open waits for the all-clear alarm, …  it is still a mix of ups, downs and just unknowns.
  • Friday is a market holiday even though Personal Consumption Expenditures price index (PCE),

 

The BOTTOM LINE:  My mission is to provide clear, actionable guidance on a regular basis to help investors and traders navigate the uncertain and often irrational financial markets.

  • As I had stated, “This week is a light one for economic data, with the spotlighted release — the Labor Department's Personal Consumption Expenditures price index is expected on Friday”

 

An interesting short quote from an old friend, ““You’ve got a combination of things that are happening with a calendar and a slow news week, with the largest piece of data coming out on Friday when the market’s closed, so you’ve got investors that feel invigorated and a more risk-on attitude seems to be driving market.” <Art Hogan, chief market strategist at B. Riley Wealth>

 

The remainder of the month’s trading sessions will be critical as the RegMed sector continues earnings’ in LPS (loss-per-share) season, estimates and consensus which set market reaction and will report “runways” and those whose cash positions render their future questionable.

  • 29 (of 35 covered companies) will have reported …6 are left to release earnings of my covered group.

 

Welcome to my world of defining the “grey’ in our universe!

  • Right up front, “I also hate to be so negative or contrarian but, this is a NO spin zone and facts are its product; I can always be WRONG but … I am mostly EARLY!”
  • The sector is what it is, until it isn’t and even then, it doesn’t seem to be… as NOT much changes as the sector’s share pricing rides the waves of volatility, algorithms, electronic trading and short covering.

 

Opinions expressed are those of the author and are subject to change, and not intended to be a forecast of future events, a guarantee of future results, nor investment advice. All investments are subject to risks. Investors should consider investment objectives.

Whether information or intelligence is good, bad or somewhere in between; I put into context what is relevant and useful for investors.  All investments are subject to risks. Investors should consider investment objectives.  Regulation Analyst Certification (Reg AC): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Henry McCusker, the editor and publisher of RegMed Investors could hold or have positions securities referred to in this publication and he will NOTIFY investors of holdings.