US equity indexes closed moderately higher, SPX +53pts (0.7%) at 7676. Nasdaq comp' +0.8%. Dow +0.3%. The Transports settled +0.8%. R2K +0.4%
SPX – daily
VIX – daily
Summary
Equities opened a little higher, the SPX printing a high of 7702, and settling moderately higher at 7676. Volatility was ground lower, the VIX settling -5.4% to 18.39.
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It was a mixed week for US equity indexes, with net weekly changes ranging from +2.0% (R2K), +0.8% (Trans), +0.4% (Dow), +0.1% (NYSE comp'), -0.5% (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
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Summary
Four US equity indexes were net higher for the week, with two net lower.
The R2K was very significantly higher, whilst the Nasdaq was broadly lower.
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Looking ahead
It will be an exceptionally busy week, with multiple truck loads of earnings, and an FOMC
Earnings:
M - $VZ $ARLP $BMRC $BOH $BFST $HBT $DEA $CX $ABOS $LKFN $CLS $CDNS $RMBS $NUE $AMKR $WELL $WHR $HIG $CINF $BRO
T - $KO $UPS $SOFI $CAJPY $GLW $FCX $CNC $PNR $PYPL $SPGI $HOOD $SKHY $STX $V $ENPH $CAKE $FFIV $OKE $BBAI $WM
W - $GEV $APH $BSX $VRT $UBS $VFC $IP $ADP $OTLY $PSX $MSFT $GOOGL $NOW $FDX $CNVA $KLAC $FTNT $TMUS $CMG $TENB
T - $CAT $LLY $VMC $CARR $PBF $STM $CTSH $EPD $INSM $LHX $INTC $AMZN $SNDK $COIN $SBUX $AXTI $RBLX $RDDT $TWLO $RIVN
F - $XOM $CVX $BP $CNI $CCJ $REGN $AN $AZN $D $GD
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Econ-data/events
M - -
T - Durable goods orders, Case-Shiller HPI, New home sales, consumer conf', *Israeli elections*
W - Intl' trade, wholesale & retail invent'
*2pm FOMC announcement. 2.30pm Press conf'
T - Q3 GDP (print'1), Pers' income/outlays, PCE, Weekly jobs,
F - Employment cost, Chicago PMI
*UK/European clocks change 2am, Sunday Oct'25th
**As Friday is end month, expect dynamic price action on higher vol'
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Final note
With four of six indexes net higher for the week, it wasn't exactly a massively bearish week, was it?
Background chatter is increasingly crashy, as most lack any perspective, or are just posting click-bait for the dumb indebted sheep.
We've just seven trading days until the flip side of the midterms. In theory, Mr Market should soon start to broadly climb into mid January. Or perhaps you'd favour a Govt' bond, perhaps something from the UK, France, or Germany?
My only real concern is geo-political, but then... it always is.
Have
a good weekend... if you deserve it.
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*the next post on this page will likely appear 4.20pm EST on Monday.
US equity indexes closed on a weak note, SPX -39pts (0.5%) at 7623. Nasdaq comp' -0.2%. Dow -1.2%. The Transports settled -1.2%. R2K -0.3%
SPX – daily
VIX – daily
Summary
Equities opened weak, the SPX breaking a new s/t low of 7612, and settling moderately lower at 7623. Volatility picked up a little, the VIX settling +2.2% to 19.45.
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