The S&P 500 was up 0.6% last week, which was the first six-week win streak since late 2015. In fact, it was the fourteenth six-week win streak since the March 2009 S&P 500 lows. Looking at the previous 13 times this occurred, the S&P 500 was higher on average by 0.8% a month later and positive in nine of the 13 instances. (LPL Research)
Other than the February employment report, due out Friday, it's a relatively quiet week for U.S. economic data. It's also the unofficial quiet period for the Federal Reserve ahead of the March 14-15 Fed meeting. The overseas calendar is chock full of potentially market-moving events, including the EU leaders summit, a potential House of Lords vote on Brexit, the European Central Bank meeting, and China's National People's Congress, where Premier Li will provide government targets for the Chinese economy in 2017. (LPL Research)
Big Lots, ticker symbol BIG, reported a quarterly profit of $90.1 million. The discount retailer had sales of $1.58 billion in the period. For the year, the company reported profits of $152.8 million, or $3.32 per share. Revenue was reported at $5.2 billion. Big Lots stock is up 4% in 2017 and up 26% in the last 12 months. (AP)
With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.