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“The strength of the team is each individual member. The strength of each member is the team.”  – Phil Jackson

It’s a new quarter today, but markets will get right into it today with a good deal of economic data.  For starters, we get the March employment report at 8:30 eastern, and then at 10 AM, we’ll get Construction Spending and the ISM Manufacturing report.  While payrolls are expected to show a modest decline, ISM Manufacturing is expected to see a modest bounce.  With the employment report, though, the devil will be in the details.

In Europe, equities are trading higher following what has generally been weak manufacturing PMI data in the region.  Interest rates are moving higher on the day while crude oil has dropped below $100 per barrel.

After a plunge into the close yesterday, futures are looking to claw back those losses in early trading, but even at current levels, we’re only basically back to where we were a half-hour before yesterday’s close.

Read today’s Morning Lineup for a recap of all the major market news and events from around the world, including the latest US and international COVID trends.

April may bring showers in terms of the weather, but historically it has been one of the greener months of the year.  Over the last 100 years, the Dow’s average gain of 1.46% with positive returns 62% of the time ranks as the third-best of any month behind July (1.65%) and December (1.52%).  In the last 50 years, the 68% frequency of positive returns hasn’t been the most consistent, but the 2.21% average gain is easily the highest of any month.  Likewise, the average gain of 2.21% in the last 20 years has also been the strongest of any month.  Not only that, but with just three down Aprils over the last 20 years, no other month during this period has been more consistent to the upside.

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