It was a bearish week for US equity indexes, with net weekly declines ranging from -4.9% (Trans), -3.3% (R2K), -2.9% (NYSE comp'), -2.7% (Dow), -2.5% (Nasdaq comp'), to -2.4% (SPX).
Lets take our regular look at six of the main US indexes (monthly candle charts).
sp'500
Nasdaq comp'
Dow
R2K
NYSE comp'
Trans
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Summary
All six US equity indexes were lower for the week.
The 'old leader' - Transports, lead the way down, whilst the SPX was most resilient.
The SPX, Nasdaq, NYSE, and R2K broke new historic highs.
More broadly, five US equity indexes are trading above their respective monthly 10MA, with positive monthly momentum. The exception being the Transports.
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Looking ahead
It will be a very busy week, not least with the formal start of Q3 earnings, with JPM leading the way.
Earnings:
M - $FAST
T - $JPM $GS $C $WFC $BLK $JNJ $DPZ $ERIC $ACI $BCE $HWC $KARO $EQBK
W - $BAC $MS $SYF $ASML $PGR $DLTR $CFG $ABT $FHN $PLD $UAL $JBHT $HOMB $SNV $PNFP $BANR $GSBC $FR $EPAC $REXR
T - $TSM $BK $KEY $INFY $SCHW $TRV $CMC $MTB $MMC $IIIN $IBKR $CSX $SFNC $FNB $GBCI $OZK $CNS $LBRT $INDB
F - $SLB $AXP $ALLY $STT $FITB $RF $TFC $HBAN $ALV $CMA
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Econ-data/events
M - -
T - NFIB optimism
W - CPI, Empire State manu', Fed Beige book (2pm)
T - PPI, retail sales, Phil' Fed Manu', Busi' invent, Home builder conf',
F - Housing starts, building permits, import prices, indust' prod', *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.
