It was a bearish week for US equity indexes, with net weekly declines ranging from -4.1% (Trans), -3.4% (R2K), -2.6% (SPX), -2.5% (Nasdaq comp, Dow), to -2.0% (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 were net lower for the week.
The two leaders - Trans & R2K, lead the way down, whilst the NYSE comp' was most resilient.
The SPX, Nasdaq comp', NYSE comp', and R2K have positive weekly momentum, whilst the Dow and Trans remain negative.
The SPX and Dow have bearish engulfing weekly candles, which are strongly suggestive of a lower low next week.
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Looking ahead
It will be a short four day week, with Monday CLOSED for Memorial day.
Earnings:
M - *CLOSED*
T - $PDD $SKY $AZO $BNS $BLRX $GLNG $SHIP $DLNG $OKTA $BOX $API $SUPV $SQM $SMTC $HEI $GGAL
W - $DKS $ANF $M $KC $CMCO $PHR $VNET $BMO $ICCM $RSVR $NVDA $CRM $AI $ELF $NTNX $A $VEEV $S $PSTG $SNPS
T - $FL $BBY $CAL $KSS $HRL $FUTU $BURL $CM $MOV $BBW $COST $MRVL $DELL $ESTC $ZS $ULTA $GAP $AEO $AMBA $NTAP
F - $CGC $SCVL
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Econ-data/events
M - *CLOSED*
T - Durable goods orders, Case-Shiller HPI, consumer conf'
W - FOMC mins (2pm)
T - Q1 GDP (print'2), Weekly jobs, pending home sales, EIA Pet' & NG reports,
F - Pers' income/spending, PCE, retail & wholesale invent', Chicago PMI, consumer sent'.
*as Friday is end month, I'd expect considerable chop on high vol'.
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Enjoy the long weekend
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*the next post on this page will likely appear 4.20pm EDT, Tuesday, May 27th
