It was a mixed week for US equity indexes, with net weekly changes ranging from +0.3% (Dow, NYSE comp'), +0.1% (SPX), -0.4% (Nasdaq comp'), -0.8% (Trans), to -1.7% (R2K).
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
Three indexes were net higher for the week, with three net lower.
The Dow and NYSE comp' were marginally higher, whilst the R2K was sig' lower.
The Dow and NYSE comp' broke new historic highs.
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Looking ahead
Earnings:
M - $ARBR $XPEV $NIU $JKS $CRGO $VRME $YNM $ZK $NRXP $JJSF $HTHT $TCOM $HP $GLAD $IIIV $XP $LFMD $DAC
T - $HD $BIDU $AS $BRBR $FUTU $PDD $KLAR $JHX $CAN $ESLT $KULR $DLB $CCIF $VREX $POWL $SBLK $SQM $GBDC $LZB $QFIN
W - $TGT $WIX $TJX $BLSH $LOW $GDS $ICCM $KC $VIK $WSM $NVDA $PANW $NJR $CPA $ZTO $TBBB $JACK $BV $CRNC $HI
T - $WMT $ZIM $SCVL $ROAD $NNOX $ALLT $WMG $RERE $VIPS $VNET $BULL $VEEV $CPRT $GAP $ESTC $UGI $INTU $TEN $POST $ROST
F - $BJ $VFS $MNSO $MOG.A $FRO $AZTA
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Econ-data/events
M - Empire state manu'
T - Import prices, indust' prod', home builder conf'
W - Phil' Fed manu', housing starts, building permits, EIA Pet', FOMC mins (2pm)
T - Weekly jobs, existing home sales, leading indicators
F - PMI serv' & manu', consumer sent'
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Final note
Despite what some might say, it was a mixed week for the collective of US equity indexes. The fact the Dow and NYSE comp' broke new historic highs, was another reminder that the mid/long term trend remains unquestionably bullish.
Sure... there are near term issues, not least if El Presidente decides to attack mainland Venezuela, in addition to the usual tourist vessels. There is background chatter that Zelensky might flee to Greece. There is Israel-Iran, we didn't forget about that, did we? Ohh, and there is Trump-China, as there remains no reason to expect Xi to bend the knee to Trump.
Seasonally... the market will favour the bulls into early January, but you know that.
Gold, popcorn, a few blankets, what more do you need to survive into 2026?
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Have
a good weekend... if you deserve it.
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