Due to the Easter holiday, Friday’s strong jobs number had an entire weekend to marinade before hitting the tape Monday. The boost in employment signifies that the U.S. is back on track for economic recovery, and traders and investors have made it clear that they want to be long stocks.
Crude Oil prices slipped more than 4.5%, taking back last week’s gains.
S&P 500 futures hit new all-time highs and end the day with heavy MOC selling.
Treasury Secretary Yellen doubts the Biden infrastructure plan will create inflationary pressures.
U.S. benchmarks finished Q1 and started Q2 with fireworks before Friday’s Nonfarm Payroll report brought added tailwinds. We now view the next 2-3 sessions as critical in solidifying investors’ appetite for the next 3-week narrative and defining a very bullish technical breakout.
In just over two months, the market capitalization of the cryptocurrency market has doubled, according to price-tracking website CoinGecko, as retail and institutional investors pile into the space.
Economic Calendar for Tuesday, April 6
Redbook – 7:55 AM CT
JOLTS – 9:00 AM CT
Live Q&A With Topstep Founder Michael Patak
Join Topstep founded and Chief Visionary Officer Michael Patak this Wednesday, April 7, at 3:00 PM CT, for a LIVE Q&A session. He’s going to be talking about the Topstep program, new features, and whatever else is on your mind. To tune in at that time, simply click this link.