It was a bullish week for US equity indexes, with net weekly gains ranging from +4.0% (R2K), +3.1% (Trans), +1.5% (NYSE comp'), +0.7% (Nasdaq comp', Dow), to +0.6% (SPX).
Lets take our regular look at six of the main US indexes
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
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Summary
All six US equity indexes were net higher for the week.
The R2K lead the way up, whilst the SPX lagged.
The NYSE comp' and R2K broke new historic highs.
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Looking ahead
It will be a short four day trading week, with Friday CLOSED for 'Juneteenth'.
Earnings:
M - $CGC $AIOT $DOMO $HITI $PLAY $RFIL
T - $VNCE $WLY $LZB
W - $PGR $JBL $KMX
T - $KR $ACN
F - *CLOSED*
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Econ-data/events
M - Empire state manu', Indust' prod'
T - Import prices, housing starts, building permits
W - retail sales, pending home sales, home builder conf', busin' invent'
2pm, FOMC announcement. 2.30pm Press conf' with Warsh
T - Weekly jobs, Phil' Fed manu'
F - *CLOSED*
As Friday is closed, I'd expect Thursday to be subdued on light vol', as many walk away early.
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Final note
A net bullish week, but we sure did see a fair few bounces get sold into. The collective of indexes are clearly m/t bullish.
With SpaceX trading, that leaves OpenAI and Anthropic, both of which might get listed by late summer. The market will inherently be propped up by a couple more giant IPOs.
There are a few concerns. The first... the middle east and oil. The second... is inflation and interest rates. The third... the market will be vulnerable Sept-Oct', not least ahead of the midterms.
Episode 2026 of 'Planet Krazy'... is only going to get more wild.
As things are, I'm not going to experience ep'2027.
Too many problems.
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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.
