Paper Gains
Shorts Covering ahead of NFP & Powell
3/3/2025, 6:29:28 PM
Economic Summary
- Nonfarm payrolls and Powell speech Friday are key events
- Tariffs on Canada, Mexico, and China set to start
- Personal income rose 0.09%, spending fell for first time in 2 years
- PCE came in at 0.2% vs 0.3% expected
- GDP Q4 revision softened to 2.3%
- Home prices dipping, inventories rising
Bullish
- Personal spending declined despite income growth, good for inflation control
- PCE slightly lower than expected
- February seasonality often followed by March recovery
- Palantir showing relative strength
- Indices consolidating for months, potential large move ahead
- Some stocks at long-term support zones for accumulation
Bearish
- Consumer confidence saw largest drop in 3.5 years
- GDP Q4 revision lowered from 3.1% to 2.3%
- Homebuilders hit hard despite rising inventories
- Indexes near key support, potential for downside break
- Friday's rally driven by short covering and rebalancing, may not hold
- NVDA, TSLA, and growth names showing technical weakness
Bullish tickers
PLTRWMTSQ
Bearish tickers
NVDABABATSLAAAPLANETMSFTMSCR
People mentioned
Jerome PowellDonald TrumpVolodymyr ZelenskyJ.D. VanceTom Lee