It was a bearish week for US equity indexes, with net weekly declines ranging from -3.3% (Nasdaq comp', Transports), -3.0% (Dow), -2.9% (R2K), -2.7% (SPX), to -2.4% (NYSE 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
All six US equity indexes settled net lower for the week.
The Nasdaq and Trans lead the way down, whilst the NYSE comp' was most resilient.
Weekly momentum has turned negative in the Dow. The other indexes can be expected to follow in March.
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Looking ahead
Earnings:
M - FUBO, LI, NAT, TREE, FRPT, OXY, ZM, WDAY, FSK, RRC
T - TGT, NCLH, AZO, SJM, INSW, RIVN, AMC, MARA, FSLR, NVAX, BLNK, SPCE, MNST, A
W - LOW, DLTR, KSS, ANF, JACK, PBR, NIO, WEN, CRM, SNOW, PLUG, SPLK, OKTA, CELH, VEEV
T - M, KR, BBY, BILI, BUD, COST, AI, CHPT, MRVL, ZS, AVGO, JWN, HPE, DELL, VSCO
F -
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Econ-data/events
M - Durable goods, pending home sales
T - Intl' trade, wholesale invent', Case-Shiller HPI, consumer con'
W - ISM manu', construction, EIA Pet', vehicle sales
T - Weekly jobs
F - ISM serv'
*as Tuesday is end month, I would expect dynamic price action on higher vol'
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Final note
February is due to settle net lower. Bulls can tout a new multi-month high of 4195, whilst the bears can note a distinctly spiky candle, indicative of exhausted bulls.
The Oct' low of 3491 isn't going to hold, is it? March/early Spring should offer increasing volatility, with some 'market drama', and who doesn't love some of that?
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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.
