It was a bearish week for most US equity indexes, with net weekly changes ranging from -2.7% (Transports), -1.7% (Dow), -1.4% (NYSE comp', R2K), -0.1% (SPX), to +0.7% (Nasdaq comp').
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
–
Summary
Five US equity indexes were net lower for the week, with one net higher.
The 'old leader' - Transports, was rather powerfully lower, whilst the Nasdaq was moderately higher.
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Looking ahead
The schedule is light, with Q3 soon to end.
Earnings:
M - $ABVX
T - $THO $MLKN $AZO $KBH $WOR $AYTU
W - $CBRL $GIS $CTAS $PAYX $SFIX $FUL $NEOV
T - $BB $DRI $SNX $COST $LGCY $SCHL
F -
-
Econ-data/events
M -
T -
W - PMI Manu' & Serv', EIA Pet'
T - Weekly jobs, New home sales
F - Durable goods orders, consumer sent'.
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Final note
Wednesday's rate hike is a concern to many, but it really shouldn't. Equities typically climb with rising rates, with a rate cut being the ultimate equity sell signal.
S/t bullish into end month. October will inherently favour the bears, not least ahead of the midterms. Once we're on the flip side of that... the Anthropic IPO would be one excuse for renewed mainstream hysteria.
My only real concern is geo-political, but then... it always is.
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Have
a good weekend
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*the next post on this page will likely appear 4.20pm EST on Monday.
