With votes in France's general election first round pointing to no major upset and the strong likelihood of a pro-EU, pro-euro president, markets have read the situation positively with stocks, bonds and the euro’s value against the US dollar set to be boosted. But don't discount further volatility.
The stock market started the week under a cloud based on increased global tensions and holidays in the US and overseas. Heading into the last trading day before the Easter holiday stocks looked week technically but there were many signs based on my analysis that meant the risk was too high for new short positions.
The calendar is full this week with the Chicago National Activity Index and Dallas Fed Manufacturing Survey on Monday. Then
IBM is scheduled to report earnings after Tuesday's close. IBM's stock hit a record high of $215.90/share in 2013 and is trading near $169/share. The stock is prone to big moves after reporting earnings and can easily gap up if the numbers are strong. Conversely, if the numbers disappoint, the stock can easily gap down.
Did Old Man Winter scare away hiring in March? New employment data revealed that the U.S. added significantly fewer jobs in March than most economists expected, though a drop in the total number of unemployed did lead to a decline in the top-line unemployment rate.
Reports suggest that Facebook’s is in talks with Major League Baseball to live stream one game per week on its platform. Both Facebook and Twitter are looking at live sports as a key catalyst to drive user engagement, growth and eventually revenues.
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