Weekly Review, April 10, 2023

weekly review
Written By John Heffel

Read about the big happenings last week, this week.

  • Jobs report released on Friday reveals that the US Economy added 236,000 new jobs in March. Unemployment rate came in at 3.6%. Markets are currently digesting these results and the impact on upcoming Federal Reserve meeting in May.

  • Elon Musk announces plans for new Megapack factory in Shanghai. This factory will supplement current Megapack output from a California site that opened last year. Megapacks are battery storage facilities that can store energy from renewable sources and distribute as needed to support power grid needs.

  • JPMorgan Chase CEO Jamie Dimon shares perspective on SVB banking crisis and outlook on the sector and economy at large in annual letter to shareholders.

  • Earnings reports for Q1 begin this week. All eyes will be on bank earnings as Wells Fargo, JPMorgan Chase and Citigroup are set to report Friday.

  • Jon Rahm overtook Brooks Koepka at the Masters Tournament at Augusta National Golf Club on Sunday. The storied and exclusive event stole headlines over the weekend for its staggering merchandise sales numbers for the four day tournament.

John Heffel
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