It was a bullish week for US equity indexes, with net weekly gains ranging from +2.1% (Dow), +2.0% (NYSE comp'), +1.7% (SPX), +1.6% (Nasdaq comp'), +1.4% (R2K), to +1.1% (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 Dow lead the way up, whilst the Transports lagged.
The SPX broke a new historic high.
Last week's bullish engulfing candles played out.
Weekly momentum is swinging back toward the equity bulls, and bodes net bullish into February.
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Looking ahead
Earnings:
M - $SOFI $T $BOH $DX $HOPE $NUE $ARE $WRB $HBCP $EFSC $CR $SANM $WAL $AGNC $BRO
T - $BA $GM $LMT $RTX $RCL $SYF $JBLU $SYY $CVLT $KMB $SBUX $SAP $LV $LOGI $LRN $NXT $PKG $CB $FFIV $SYK
W - $ASML $PGR $TMUS $ADP $DHR $TEVA $GD $VFC $NDAQ $EAT $TSLA $META $MSFT $IBM $LRCX $HITI $NOW $CLS $WOLF $WDC
T - $UPS $MA $DOW $BX $NOK $LUV $ALGM $CAT $CMCSA $MBLY $AAPL $INTC $V $KLAC $CNI $TEAM $BKR $DECK $X $SKYW
F - $XOM $CVX $PSX $ABBV $CL $BAH $LYB $BEP $ALV $CHTR
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Econ-data/events
M - New home sales
T - Durable goods orders, Case-Shiller HPI, consumer conf'
W - Intl' trade, wholesale & retail inventories
*2pm FOMC announcement, 2.30pm Press conf'.
T - GDP Q4 (print'1) ,weekly jobs, pending home sales
F - Pers' spending/outlays, PCE, Chicago PMI
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| A cold 3c/37f, but impressive skies |
Final note
With a new hist' high in the SPX, it has to be seen as a net bullish week. The mainstream are effectively in #everythingisfine mode, reflected in VIX 14s.
The coming week offers some drama, not least with a truck load of big name earnings. We've the first FOMC of the year, as the Fed will surely not cut rates. If correct, President Trump could be expected to issue some complaints, as I expect tensions between the Whitehouse and the Fed to increase all the way into the summer.
One thing is certain... we're going to need more popcorn than ever before!
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Have
a good weekend
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*the next post on this page will likely appear 4.20pm EST on Monday.
