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Weekly Macros - April 26th, 2020

  • Stocks held their ground last week as investors weighed weak earnings from heavyweights like Netflix & IBM and Congress's agreement to allocate additional funds to the Paycheck Protection Program.

  • While the rally in stocks have many pundits calling for a return to all-time-highs - crude oil may be telling a different story. Being the only market not 'under FED influence' it can be a sign of the true economic carnage going on. After doing what many thought could never happen - trading at negative prices - crude oil should serve as a message to all investors: "Expect the unexpected."

  • On the economic calendar & reporting this week: Q1 GDP (Wed. 8:30AM ET), FED Press Conference (Wed. 2PM ET), Weekly Jobless Claims (Thurs. 8:30 AM ET) and Markit Manufacturing Index PMI (Fri. 9:45 AM ET).

#Stocks #CrudeOil #Federal Reserve

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