It was a mixed week for US equity indexes, with net weekly changes ranging from +2.1% (R2K), +0.9% (NYSE comp'), +0.3% (Trans), -0.3% (Dow), -0.4% (SPX), to -0.7% (Nasdaq comp').
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
NYSE comp'
R2K
Trans
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Summary
Three US equity indexes were net higher for the week, with three net lower.
The R2K was sig' higher, whilst the Nasdaq lagged.
The SPX, Dow, NYSE comp', R2K, and Transports broke new historic highs.
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Looking ahead
It will be a short four day trading week, with Monday CLOSED for MLK day
Earnings:
M - CLOSED
T - $MMM $FITB $DRI $USB $FAST $PEBO $KEY $MBWM $FOR $NFLX $UAL $IBKR $PRGS $FNB $HWC $KARO $OZK $ZION $WTFC
W - $JNJ $HAL $ALLY $SCHW $TEL $PLD $TDY $TRV $MMYT $BKU $KMI $BANC $BANR $CACI $PNFP $TCBX $RLI $FULT $EGBN $EQBK
T - $PG $FCX $GE $HBAN $TCBI $ABT $MKC $ACMR $NG $NWFL $INTC $ISRG $COF $AA $EWBC $CSX $ASB $BY $ALK $CUBI
F - $SLB $ERIC $WBS $FCNCA $BAH %CMA
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Econ-data/events
M - CLOSED
T -
W - construction, pending home sales
T - GDP Q4 (print'1), weekly jobs, EIA Pet' & NG
F - Pers' income/outlays, PCE, consumer sent, PMI serv' & manu'
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| 3.54pm GMT |
Final note
Simply put... the game continues, I remain net bullish into the SpaceX IPO... likely due in Sept'.
The real action remains in gold/silver, and the related miners. For many, the day to day volatility is too much to stomach. However, for those who can deal with regular 5-10% swings, the upside potential still looks promising, not least on a long term basis.
I could talk about other world markets, and how they are all suggestive the USA market will broadly climb into the summer, but very few care. Most are still obsessed about about a handful of big names, and lack any real perspective.
February will mark fourteen years of 'this', all without taking a single week off. The notion I will be working sixty hour weeks for another fourteen years to 2040 is a difficult thought. As ever though... one day at a time.
For more of the same...
Enjoy the holiday weekend
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*the next post on this page will likely appear 4.20pm EST on Tuesday, January 20th.
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