Wednesday, March 31, 2021

Daily Outlook for March 31st 2021

Notable Events

  • End of month & quarter today – expect volatility from portfolio rebalancing by investors
  • 10yr Treasury Yield remains flat ~1.72% this morning after jobs report
  • GS to soon offer Bitcoin & other digital assets to its wealth management clients, while PYPL has started accepting Cryptocurrency as payments.
  • PFE vaccine 100% effective in study in 12- to 15-year-olds
  • 51.9 act. vs 50.6 prev. China Manufacturing PMI for March
  • 56.3 act. vs 51.4 prev. China Non-Manufacturing PMI for March
  • +517,000 act. vs +525,000 est. for ADP Employment Change Report for March
  • President Biden delivers Biden-Harris Administration’s plan to Build Back Better ($2T Infrastructure Plan + increase in corporate tax from 21% to 28% + increase in foreign earnings) at 4:20pm EST

Stock Watchlist

  • AMAT – Analyst Upgrade by Bernstein, up ~3% this morning.
  • APHA – NY passed bill to legalize Recreational Use
  • BB – ER and down >5% this morning
  • CGC – NY passed bill to legalize Recreational Use
  • CHWY – ER and up >10% this morning
  • DISCA – IV still inflated from Archegos liquidation, up ~3% this morning.
  • LULU – ER and down <2% this morning
  • MU – Increased IV, ER on 3/31.
  • TLRY – NY passed bill to legalize Recreational Use
  • TSLA – Sold PCS on this on Monday, high volume and up ~2% this morning.
  • VIAC – IV still inflated from Archegos liquidation, up ~2% this morning.

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