MANCINI MARKET UPDATE – Today, March 8th, the financial markets are awaiting President Trump’s announcement of which countries will feel the effects of the proposed U.S. tariffs of 25% on steel and 10% on aluminum. The announcement is expected at 12:30 pm this afternoon.
Meanwhile, the U.S. Dept of Labor will announce the February Employment Report at 5:30am tomorrow (Friday) morning. The expectation is for an increase of approximately 200 thousand new jobs created in the U.S. Any number higher than 200 thousand may cause the 10-year Treasury Note to exceed 3%, causing problems for both stocks and bonds.
The Stock & Bond Markets are proceeding cautiously today until these events occur. Once they have, expect a strong follow thru in either direction up or down. We are still in a defensive position since February 26th. Today and tomorrow’s reports will guide us in our next course of action.