Saturday, 14 September 2024

Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly gains ranging from +5.9% (Nasdaq comp'), +4.3% (R2K), +4.0% (SPX), +2.6% (Dow), +2.5% (NYSE comp'), to +2.0% (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 were net higher for the week.

The Nasdaq lead the way up, whilst the 'old leader' - Transports, lagged.

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Looking ahead

Earnings:

M -

T - $FERG

W - $GIS $SCS

T - $DRI $FDS $CBRL $FDX $LEN $MLKN

F -

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Econ-data/events

M - Empire state manu'

T - Retail sales, indust' prod', busin' invent

W - Housing starts, building permits, EIA Pet'

2pm FOMC announcement. 2.30pm, press conf' with Powell.
Rate cut'1 of -25bps can be expected, with perhaps news that the QT program will fully cease.

T - Weekly jobs, Phil' fed manu', existing home sales, leading indi'

F - *QUAD-OPEX*

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Have a good weekend
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*the next post on this page will likely appear 4.20pm EDT on Monday.