Saturday, 19 August 2023

Weekend update - US equity indexes

It was a bearish week for US equity indexes, with net weekly declines, ranging from -3.3% (R2K), -3.1% (Trans), -2.6% (Nasdaq comp'), -2.4% (NYSE comp'), -2.2% (Dow), to -2.1% (SPX). Near term outlook offers a s/t bounce.

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 lower for the week.

The 'old leader' - Transports, lead the way down, whilst the SPX was most resilient.

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Looking ahead

Earnings:

M - ZM

T - BIDU, M, MDT, LOW, CSIQ, DKS, BJ, IQ, COTY, TOL, LZB, URBN

W - PTON, AAP, KSS, ADI, FL, WSM, BBWI, GRAB, ANF, NVDA, SNOW, SPLK, ADSK, NTAP, GES

T - DLTR, BURL, TD, WOOF, WB, NTES, MRVL, AFRM, ULTA, INTU, WDAY, GPS, JWN

F - -

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Econ-data/events

M - -

T - Existing home sales

W - PMI serv', PMI manu', new home sales, EIA Pet'

T - Weekly jobs, durable goods orders, 10am, various Fed officials - Jackson Hole

F - Consumer sentiment,  10.05am Powell - Jackson Hole.

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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 4.20pm EST on Monday.