Private nonfarm payrolls in the US are projected to increase by 178,000 (seasonally adjusted) in March over the previous month in tomorrow’s update of the ADP Employment Report, based on The Capital Spectator’s average point forecast for several econometric estimates. The average projection reflects a moderately lesser increase vs. February’s gain.
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If the bear-market label doesn’t apply to the US stock market, the evidence will be forthcoming in weeks ahead. But that’s a high bar at the moment. The rally in recent weeks has recovered most of the year-to-date losses, but a bigger test awaits: regaining the strategic momentum that’s been MIA since last summer. The odds for success don’t look encouraging, leaving tactically minded investors with a simple question: Do you feel lucky?
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● US Q1 GDP growth projection stumbles to anemic 0.6% | Atlanta Fed
● Feb US consumer spending rise slightly; income growth slows | LA Times
● US trade deficit rose again in Feb | MarketWatch
● US pending home sales in Feb hit highest point since July | CBS MW
● Dallas Fed factory index in Mar least negative since Nov | Reuters