It was a bearish week for US equity indexes, with net weekly declines ranging from -3.5% (Transports), -2.9% (Nasdaq comp'), -1.9% (SPX, R2K), -1.7% (Dow), to -1.1% (NYSE comp'). Near term outlook offers upside (if choppy), into Christmas.
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 significantly net lower for the week.
The Transports lead the way lower, with the NYSE comp' most resilient.
More broadly, the SPX, Nasdaq comp', Dow, NYSE comp', and Transports are currently still above their respective monthly 10MA, whilst the R2K is below.
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Looking ahead
It will be a short four day trading week, with the market closed on Christmas Eve.
Earnings:
M - CCL, MU, NKE
T - RAD, GIS, BB
W - KMX, PAYX
T - -
F - *CLOSED*
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Econ-data/events
M - Leading indicators
T - Intl' trade
W - GDP Q3 (print 3), consumer con', existing home sales, EIA Pet'
T - Weekly jobs, pers' income/outlays, durable goods orders, new home sales, consumer sent'
F - *CLOSED*
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Final note
We have just nine trading days left of 2021.
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Have a good weekend
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*the next post on this page will likely appear 5pm EST on Monday.
