1. US Market Data CurrentChange Dow Jones8,277+1.6% S&P 500878+1.8% Nasdaq1,383+1% 10 Year Note3.95%+0.05 Brent Crude (May delivery)$23.40-5.2% Euro – USD$1.058 USD – Yen121 Eases Pressure on US Economy

2. Economic Variables- Gloomy ActualPrev.Chg. Unemployment5.8% Manufacturing index46.250.5-8.5% Significant Shrinking in Factory Output

3. Releases for this week - Forecast Negative PeriodMarket Expects Change from Prev. Consumer CreditFeb$3.0bn-$10.2Bn Wholesale InventoriesFeb+0.2%+0.3 Trade BalanceFeb-$42.0bn+2.2% Producer Price IndexMar+0.3%-0.7 Retail SalesMar+0.4%- 0.5%+2.0 Early Indicator of Rising Prices Early Indicator of Rising Demand

4. Sectors to Watch Retail – potential upside Technology – no immediate upside Oil & Gas – Neutral May benefit from consumers boost due to war progress Companies are finding they don’t need to upgrade every 2-3 yrs

5. NameEcoAbility to Impact Markets GDP xxxx Strong Consumption xxx Moderate unless - a large unexpected change Fixed Investment xxx Medium – part of GDP Report Change in Inventories xxx Medium Price Deflators of GDP xxx High if unexpected change Index of Leading Eco. Indicators xxx Nat. Assoc. of Purchasing Mgrs. xxx Strong Employment – Payroll Jobs xxxx Strong Unemployment Rate xxx Moderate Ave. Hourly Earnings xxxx Strong – early signal of wage inflation Employment Cost Index xxxx Strong Producer Price Index xxx High if large unexpected change in inflation Retail Sales xxx Bond markets react negatively to a strong report Industrial Production xxx Bond mkt likes a slower production pace Capacity Utilization xxx Bond mkt sells-off on strong capacity utilization Housing Starts –Building Permits xxx Stronger-than expected report viewed negatively by Bond mkt Consumer Price Index xxx High Consumer Confidence x Survey is not useful in any type of forecasting