It was a bearish week for US equity indexes, with net weekly declines ranging from -4.4% (Nasdaq comp'), -4.2% (Dow), -4.0% (SPX), -2.9% (R2K), -2.6% (NYSE comp', Trans).
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 settled net lower for the week.
The Nasdaq lead the way lower, whilst the NYSE comp' and Trans were most resilient.
More broadly, all six US equity indexes are trading under their respective monthly
10MA, with negative momentum. By definition, all six
indexes are m/t bearish.
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Looking ahead
Earnings:
M - PDD, GAMB
T - BBY, BIDU, BIG, FUTU, BMO, NAT, IQ, CRWD, CHPT, CHWY, HPQ, AMBA, HPE, PVH
W - OKTA, VEEV, FIVE, NTNX, AI, S
T - CPB, HRL, SIG, CIEN, AVGO, LULU
F -
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Econ-data/events
M -
T - Case-Shiller HPI, consumer con', JOLTS
W - ADP jobs, Chicago PMI
T - Weekly jobs, productivity/costs, construction, vehicle sales
F - Monthly jobs, factory orders.
*As Wednesday is end month, I'd expect more dynamic price action on higher vol'
**As Friday is the lead into the Labor day holiday break, once the econ-data is out of the way, I'd expect subdued price action on light vol'.
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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.
