Powering upward on Powell

US equity indexes closed very significantly higher, SPX +96pts (1.5%) at 6466. Nasdaq comp' +1.9%. Dow +1.9%. The Transports settled +3.3%. R2K +3.9%

SPX - daily

VIX - daily

Summary

US equities opened on a positive note. The Powell duly appeared at Jackson Hole...

Equities surged on the belief that rates will be cut Sept'17th, with the SPX printing 6478, and settling at 6466. Volatility was crushed into the weekend, the VIX settling -14.3% to 14.22.

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Pre-Powell cooling

US equity indexes mostly closed on a weak note, SPX -25pts (0.4%) at 6370. Nasdaq comp' -0.3%. Dow -0.3%. The Transports settled -0.1%. R2K +0.2%

SPX - daily

VIX - daily

Summary

Equities leaned weak for a fifth day, the SPX settling moderately lower to 6370.

Volatility climbed for the fifth day of six, settling +5.8% to 16.60.

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Increasingly twitchy

US equity indexes mostly closed on a weak note, SPX -15pts (0.2%) at 6395. Nasdaq comp' -0.7%. Dow +0.04%. The Transports settled -1.9%. R2K -0.4%

SPX - daily

VIX - daily

Summary

US equities opened much like Tuesday... broadly flat... if leaning a little weak. However, the market was distinctly more twitchy, with the SPX seeing a late morning low of 6343. There was a bounce to 6405, and settling at 6395.

Volatility spiked, the VIX printing 17.19, if cooling back to settle +0.8% to 15.69.   

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Nothing dramatic

US equity indexes closed mixed, SPX -37pts (0.6%) at 6411. Nasdaq comp' -1.5%. Dow +0.02%. The Transports settled +1.4%. R2K -0.8% 

SPX - daily

VIX - daily

Summary

Equities saw broad cooling, the SPX printing 6400, and settling at 6411. Somewhat red... but certainly nothing dramatic.

Volatility picked up, the VIX settling +3.9% to 15.57

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Subdued Monday

US equity indexes closed a little mixed, SPX -0.6pts (0.01%) at 6449. Nasdaq comp' +0.03%. Dow -0.1%. The Transports settled +0.1%. R2K +0.4%

SPX - daily

VIX - daily

Summary

US equities opened broadly flat, and remained that way across the day... the SPX settling almost precisely flat. Volatility was itself subdued, the VIX settling -0.7% to 14.99. 

–
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Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly gains ranging from +3.1% (R2K), +2.1% (Trans), +1.7% (Dow), +1.4% (NYSE comp'), +0.9% (SPX), to +0.8% (Nasdaq 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 higher for the week.

The R2K lead the way up, whilst the Dow lagged.

The SPX, Nasdaq, and Dow, broke new historic highs. 

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Looking ahead

Earnings:

M - $CRGO $BTDR $RSKD $PANW $BLNK $FN $API $BHP $FLXS $WALD $XP $NYXH

T - $HD $AS $VIK $MDT $XPEV $OPRA $PINC $TOL $ZTO $JHX $LZB $JKHY $CCIF $KEYS $SQM $AUNA $FLNT

W - $LOW $TGT $EL $ZIM $TJX $ADI $BIDU $DY $FUTU $GDS $BZ $NDSN $CAAP $BBAR $COTY $AAPG $TLX $UFI

T - $WMT $HOV $CSIQ $OSIS $BILI $AEG $SCSC $ZM $WDAY $INTU $ROST

F - $BJ $GFI

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Econ-data/events

M - Home builder conf'

T - Housing starts, building permits

W - EIA Pet', FOMC mins (2pm)

T - Weekly jobs, Phil' Fed' manu', PMI serv' & manu', existing home sales, leading indi

F - Powell - Jackson Hole, WY

> https://www.kansascityfed.org/research/jackson-hole-economic-symposium/

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Trump-Putin into the weekend

US equity indexes mostly closed on a weak note, SPX -18pts (0.3%) at 6449. Nasdaq comp' -0.4%. Dow +0.1%. The Transports settled -0.4%. R2K -0.5%

SPX - daily

VIX - daily

Summary

US equities opened a little higher, with the SPX printing a new hist' high of 6481. There was a little cooling, to settle 6449. Volatility remained subdued into the weekend, the VIX settling +1.7% to 15.09.  

       President Putin meets President Trump

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Goodnight from London
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A somewhat weak Thursday

US equity indexes closed mixed, SPX +2pts (0.03%) at 6468. Nasdaq comp' -0.01%. Dow -0.02%. The Transports settled -0.8%. R2K -1.2%

SPX - daily

VIX - daily

Summary

US equities opened moderately lower, but all the bears could manage was 6441, a mini spike to 6473, and settling effectively flat at 6468. Volatility remained suppressed, the VIX settling +2.3% at 14.83.

–
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Midweek upside

US equity indexes closed on a positive note, SPX +20pts (0.3%) at 6466. Nasdaq comp' +0.1%. Dow +1.0%. The Transports settled +1.4%. R2K +2.0%

SPX - daily

VIX - daily

Summary

Equities opened on a positive note, with the SPX printing a new hist' high of 6480, and settling at 6466.

Volatility was ground lower, the VIX settling -1.6% to 14.49.

–
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CPI remains warm

US equity indexes closed significantly higher, SPX +72pts (1.1%) at 6445. Nasdaq comp' +1.4%. Dow +1.1%. The Transports settled +3.0%. R2K +3.0%

SPX - daily

VIX - daily

Summary

Headline y/y: 2.7% vs 2.7% prior
Core y/y: 3.1% vs 2.9% prior

... as CPI remains warm, but US equities opened broadly higher, and whilst there was an opening downside reversal, there was a secondary push upward, with the SPX printing a new hist' high of 6446, and settling at 6445.

Volatility was ground lower, the VIX settling -9.3% to 14.73.

–
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A case of the Mondays

US equity indexes closed on a weak note, SPX -16pts (0.25%) at 6373. Nasdaq comp' -0.3%. Dow -0.4%. The Transports settled -1.0%. R2K -0.1%

SPX - daily

VIX - daily

Summary

US equities opened broadly flat. The SPX still managed a new cycle high of 6407, if cooling into the late afternoon, settling at 6373. Volatility picked up a little, the VIX settling +7.3% to 16.25.
-

Office Space (1999)

–
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Goodnight from London
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Weekend update - US equity indexes

It was a bullish week for US equity indexes, with net weekly gains ranging from +3.9% (Nasdaq comp'), +2.5% (R2K), +2.4% (SPX), +1.6% (Trans), to +1.3% (Dow, NYSE comp').

Lets take our regular look at six of the main US indexes (monthly candle charts)

sp'500

Nasdaq comp'

Dow

R2K

NYSE comp'

Trans

–

Summary

All six US equity indexes were net higher for the week.

The Nasdaq lead the way up, whilst the Dow & NYSE lagged.

The Nasdaq broke a new historic high. 

Five indexes are trading above their respective monthly 10MA, the exception being the Transports

The SPX, Nasdaq, and NYSE have positive monthly momentum, whilst the Dow, R2K, and Trans are negative.

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Looking ahead

Mr Market will be focused on the latest inflation data, as some are vainly hoping for a Sept'17th rate cut. If CPI ticks upward... even just by one tenth, that would arguably be enough for market upset.

Earnings:

M - $MNDY $B $VFF $FNV $LINC $WW $EE $LEGN $FSTR $DEC $AMC $BBAI $OKLO  $ASTS $ACHR $MVST $PNNT $PLUG $GPRO $PFLT

T - $CRCL $SE $PONY $KOPN $LQDA $ONON $AUTL $CAH $PSFE $IHS $CRWV $RGTI $CAVA $GRAL $ZVRA $REKR $HRB $NVGS $DDI $ATEX

W - $ARCO $EAT $INVZ $ESLT $SPRY $MRX $EXK $SSYS $AMS $CATX $CSCO $EQX $ASM $DLO $RRGB $SURG $EVLA $ALVO $SARO $AEMO

T - $AG $JD $DE $AMCR $CAN $NICE $AAP $BIRK $WB $XXII $AMAT $NU $KULR $TMC $SNDK $GAMB $GLOB $PPSI $DARE $STRT

F - $FLO $FUFU $VNRX

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Econ-data/events

M -

T - CPI, NFIB optimism, US T-budget (2pm)

W - EIA Pet'

T - PPI, weekly jobs

F - Retail sales, Empire state manu', import prices, indust' prod', business invent', consumer sent' *OPEX*

-

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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.

No market for old bears

US equity indexes mostly closed on a positive note, SPX +49pts (0.8%) at 6389. Nasdaq comp' +1.0%. Dow +0.5%. The Transports settled -0.4%. R2K +0.2%

SPX - daily

VIX - daily

Summary

US equities opened on a positive note, with the SPX battling upward into the afternoon, printing 6395. The late afternoon saw a touch of cooling, to settle at 6389. If anything, this is no market for old bears.

Volatility was ground lower into the weekend, the VIX settling -8.6% to 15.15.   

–

Almost full

... in memory of Jim Lovell, the only human to ever fly to the moon twice (Apollo 8 & 13)... but never actually landing on it.

 --

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Goodnight from London
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