Market Talk – Friday, March 12

Industrial Production (MoM) (Jan) decreased from 0.2% to -1.5%

Manufacturing Production (YoY) (Jan) decreased from -2.5% to -5.2%

Manufacturing Production (MoM) (Jan) decreased from 0.3% to -2.3%

Monthly GDP 3M/3M Change decreased from 1.0% to -1.7%

Trade Balance (Jan) increased from -14.32B to -9.83B

Trade Balance Non-EU (Jan) increased from -5.20B to -1.76B

Germany:

German CPI (MoM) (Feb) decreased from 0.8% to 0.7%

German CPI (YoY) (Feb) increased from 1.0% to 1.3%

German HICP (YoY) (Feb) remain the same at 1.6%

German HICP (MoM) (Feb) decreased from 1.4% to 0.6%

Spain:

Spanish CPI (MoM) (Feb) decreased from 0.0% to -0.6%

Spanish CPI (YoY) (Feb) decreased from 0.5% to 0.0%

Spanish HICP (MoM) (Feb) remain the same at -0.6%

Spanish HICP (YoY) (Feb) decreased from 0.4% to -0.1%

Spanish Retail Sales (YoY) (Jan) decreased from -1.5% to -9.5%

Italy:

Italian Quarterly Unemployment Rate decreased from 9.6% to 9.2%

Euro Zone:

Industrial Production (MoM) (Jan) increased from -0.1% to 0.8%

Industrial Production (YoY) (Jan) increased from -0.2% to 0.1%

US/AMERICAS:

The Dow made yet another all-time high today after advancing over 290 points to 32,778.64. Boeing’s BA stellar performance this week led the Dow this Friday after advancing 6.71% from yesterday’s session. Caterpillar CAT (4.23%), Walgreens WBA (3.28%), Goldman Sachs GS (1.94%), and Home Depot HD (1.61%) all made the most notable improvements in today’s session.

The Internal Revenue Service (IRS) stated that stimulus checks could be distributed as soon as this weekend. Americans who received their taxes through direct deposit will be the first to see the funds in their accounts. Those who qualify but did not file their taxes with a direct deposit option will receive physical checks or debit cards in the mail, which will take longer to process. The IRS plans to use tax information from 2020 to determine who qualifies for the $1,400 pay out.

The US will team up with Australia, Japan, and India to distribute nearly one billion coronavirus vaccinations to developing nations in the Indo-Pacific by the end of next year. The four nations, referred to as “the Quad” by certain media outlets, are aiming to collaborate on numerous topics to counter China’s influence over the region. A national US security adviser told outlets that the virtual summit included discussions of the coup in Myanmar, denuclearizing North Korea, and “freedom of navigation and freedom from coercion” in the East and South China Sea.

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