As we approach the final days of March, investors and market watchers are preparing for a pivotal week filled with crucial economic data releases and earnings reports. The coming days will provide insights into the state of the economy, labor market, and corporate performance, potentially shaping market sentiment as we enter a new quarter.

Key U.S. Economic Data to Watch

This week’s economic calendar is packed with significant indicators that will offer a clearer picture of the U.S. economy’s health. Here’s what to keep an eye on:

• Tuesday: ISM Manufacturing PMI, JOLTS Job Openings
• Wednesday: ADP Nonfarm Payrolls
• Thursday: Jobless Claims, ISM Services PMI
• Friday: Nonfarm Payrolls, Unemployment Rate, Average Hourly Earnings

With employment and inflation still key concerns for the Federal Reserve, these reports will be critical in assessing potential policy shifts in the coming months. The Nonfarm Payrolls report on Friday, in particular, could heavily influence market movements as it provides a snapshot of job growth and wage trends.

Federal Reserve Speakers on Deck

Several Federal Reserve officials are scheduled to speak this week, with their remarks likely to impact investor expectations regarding interest rate policy. Here are the notable Fed speeches to monitor:

• Tuesday: FOMC Member Barkin (9:00 AM ET)
• Wednesday: FOMC Member Kugler (4:30 PM ET)
• Thursday: Fed Vice Chair Jefferson (12:00 PM ET), FOMC Member Cook (2:30 PM ET)
• Friday: Fed Chair Powell (11:25 AM ET), FOMC Member Barr (12:00 PM ET), FOMC Member Waller (12:45 PM ET)

Fed Chair Jerome Powell’s speech on Friday will be the most anticipated, as markets look for any signals on future interest rate moves. With inflation still above target, Powell’s comments could influence expectations for potential rate cuts later in the year.

Earnings to Watch

In addition to economic data, this week features earnings reports from several major companies across different sectors. Some of the most anticipated releases include:

• Tuesday (After Close): nCino
• Wednesday (Before Open): RH, UniFirst, RGP
• Thursday (Before Open): Conagra, MSC Industrial
• Friday (Before Open): Guess

These reports will offer insight into corporate health, consumer demand, and sector-specific trends. With concerns about economic slowdown lingering, investors will be closely analyzing guidance from executives to gauge the business outlook for the coming quarters.

Market Implications

The combination of crucial economic data, Fed speeches, and earnings reports will likely drive market volatility this week. If job growth remains strong and inflationary pressures persist, the Fed may maintain a cautious stance on rate cuts, which could weigh on equity markets. Conversely, any signs of economic cooling may increase expectations for policy easing, providing a potential boost to stocks.

With so much on the agenda, investors should stay informed and be prepared for possible market swings. Keep an eye on these key events as they unfold, as they will shape the narrative heading into the second quarter of 2025.