Improving Global Purchasing Managers’ Index (“PMIs”) data and a much better-than-expected employment report have recently given investors new confidence that the economy can avert a near-term recession, boosting market sentiment and stock prices. Meanwhile, the US Federal Reserve (“Fed”) has remained largely steadfast in its hawkish messaging, increasing the likelihood of additional 0.25% rate hikes in both March and May. However, the major benchmarks ended lower in a week with relatively few important economic releases or other concrete drivers of sentiment. Sector performance was relatively uniform within the S&P 500 Index, with energy stocks being the notable upside outlier and communication services shares the prominent laggard...

Stocks featured:

Adidas, Alphabet and Walt Disney Co.

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