Major indices remain firmly in the green across the board, continuing yesterday’s rebound and starting the second quarter on a higher note. Investors are reacting to this morning’s economic data and potential ceasefire negotiations.

The market will get more clarity on the geopolitical front tonight, as the President is scheduled to give an address to the nation at 9 PM EST. There have been headlines that Trump has told his closest aides the Iran Conflict could be over soon, but left the door open for future selective strikes.

Nine sectors are moving higher today, with Communication Services (XLC) in the lead and continuing to get a boost from its mega-cap components, Alphabet (GOOG/L) and Meta Platforms (META). The runner up is the Industrial (XLI) sector, as electrical component and engineering names continue to rebound, while lower oil prices support gains in airline stocks. On the other hand, Energy (XLE) is at the bottom of the list as Iranian peace talks push down energy prices.

Rocket Boosters On

SpaceX confidentially filed for an IPO and will host an analyst day on April 21^st. The filing comes after SpaceX merged with startup xAI in a deal valued at $1 trillion for the rocket company and the developer of the Grok chatbot at $250 billion.

SpaceX IPO is not the only news for the space industry. The Artemis II program, designed to return astronauts to the moon (lunar flyby), got the “go ahead” from NASA to launch today. It is scheduled for 6:24 PM EST today.

Economic Data

The S&P Manufacturing PMI for March was revised lower to 52.3 from 52.4, but still above last month’s reading of 51.6.

Meanwhile, ISM Manufacturing PMI for March rose to 52.7 from 52.4 and beat forecasts of 52.5. Notably, the Price Index rose 7.8 points largely due to disruptions stemming from the Iran Conflict.

Additionally, ADP’s Employment Report for March showed a net gain of 62K jobs, following a 66K rise in February, and well above estimates of a 40K increase.

Education and Health services continue to show the biggest job creation.

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