It was a bullish week for US equity indexes, with net weekly gains ranging from +2.0% (Trans), +1.5% (R2K), +1.4% (NYSE comp'), +1.2% (Dow), +0.8% (SPX), to +0.3% (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
All six US equity indexes were net higher for the week.
The Transports lead the way up, whilst the Nasdaq comp' lagged.
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Looking ahead
Earnings:
M - SCHW, JBHT
T - BAC, GS, JNJ, LMT, NFLX, UAL, ISRG, WAL
W - MS, USB, ALLY, TRV, ABT, TSLA, IBM, AA, LRCX, DFS, STLD, FFIV, KMI
T - TSM, AXP, RAD, T, NOK, ALK, BX, UNP, DRI, PM, NUE, KEY, STX, CSX
F - PG, SLB, FCX, HCA
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Econ-data/events
M - Empire state manu', home builder index
T - housing starts, building permits
W - *UK CPI*, EIA Pet', Fed Beige Book (2pm),
T - Weekly jobs, Phil' Fed, existing homes, leading indicators
F - PMI serv', PMI manu', *OPEX*
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Final note
With a new multi-week high of sp'4163, it was clearly a week for the equity bulls. VIX 17s are reflective of a mainstream with effectively zero concerns.
After all, why worry? The banking system is 'fine' according to US T-Sec' Yellen. Commercial real estate isn't going to be a systemic threat to any of the financials, right? Neither is there any reason to be concerned about the broader economy.
The Fed's Powell will likely soon be touting the battle against inflation has been 'largely won', with many hoping for rate cuts, and touting a second half recovery'.
Everything, and I mean... EVERYTHING, is gonna be great.
... or you can see through the lies and delusions of the cheerleaders, plan, and act accordingly.
For details and the latest
offers, see: https://www.tradingsunset.com
Have
a good weekend
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*the next post on this page will likely appear 5pm EST on Monday.
