Major averages made their way back Friday on mixed volume after gapping lower to finish roughly flat on the day, closing at the top of their respective trading ranges which speaks to the resilience of this market. The light volume was normal ahead of the 3-day weekend.
Fourth quarter GDP was revised higher to 1.4% from 1.0% while core PCE prices for February rose 0.1%. Core PCE is how the Fed prefers to measure inflation. Fed Chair Yellen speaks Tuesday at 11:30 ET. The higher GDP and scant core PCE numbers give the Fed more room to hike rates sooner than later.
Members should have received our pocket pivot summary for the month of March which include all our specific picks, how they performed, and how best to maximize profits while minimizing risk in this market environment.
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