It was a bullish week for US equity indexes, with net weekly gains ranging from +3.3% (Trans), +2.8% (Nasdaq comp'), +2.3% (SPX), +2.0% (Dow), +1.6% (R2K), to +1.5% (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 higher for the week.
The 'old leader' - Trans, lead the way up, with the NYSE comp' lagging.
The SPX, Nasdaq comp', Dow, and NYSE comp', broke new hist' highs.
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Looking ahead
It will be a short four day trading week, with the market CLOSED for Good Friday.
Earnings:
M -
T - SNX, MKC, GME
W - CCL, CTAS, PAYX, LE, RUM, RH, BRZE, FUL
T - WBA, HUT, SMTC, PL
F - *CLOSED*
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Econ-data/events
M - New home sales
T - Durable goods orders, Case-Shiller HPI, consumer conf'
W - EIA Pet' report
T - Weekly jobs, Q4 GDP (print'3), pending home sales, consumer sent',
F - *CLOSED*, Intl' trade, Pers' income/outlays, PCE, retail & wholesale invent',
*Powell, 11.30am (event unknown)
*with Friday CLOSED for Good Friday, I'd expect the preceding Thursday to be pretty quiet on very low vol'.
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| Day'3 of Spring |
Final note
It was another week for the equity bulls, with a quartet of historic highs. Its not just the USA though, with Germany, Japan, India, and Australia also at record levels.
Other than a geo-political wild card, the equity bears can't expect any sustained/powerful downside, any earlier than the flip side of Labor day (Sept'2nd).
For now, the #everythingisfine narrative is intact, not that I agree with such a mainstream notion. For most... every day is a gods damn nightmare.
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Spring/Easter subscription offers >>> 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.
