It was a mixed week for US equity indexes, with net weekly changes ranging from +1.9% (Trans), +1.2% (R2K), +1.0% (Dow), +0.9% (NYSE comp'), -0.6% (SPX), to -1.6% (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
Four US equity indexes were net higher for the week, with two net lower.
The 'old leader' was sig' higher, whilst the Nasdaq was sig' lower.
The Dow, NYSE comp', and R2K broke new historic highs.
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Looking ahead
Earnings:
M - $HYFT $OPTT $ABVX $NAVN
T - $DLTH $OGI $LEN $WOR
W - $JBL $GIS $ABM $TTC $VERU $SPIR $NMTC $MU $WS $EPAC $MLKN
T - $ACN $FDS $DRI $KMX $CTAS $FCEL $BIRK $ISSC $NKE $FDX $KBH $BB $AVO $SCHL $HEI
F - $CCL $CAG $LW $PAYX $WGO
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Econ-data/events
M - Empire State manu', home builder conf;
T - Monthly jobs, retail sales, busin' invent, PMI serv' & manu'
W - EIA Pet'
T - CPI, Weekly jobs, Phil' Fed' manu'
F - Existing home sales, consumer sent', *QUAD-OPEX*
As Friday is quadruple option expiration, expect considerable chop on very high vol'
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Final note
Whilst the week ended on a bearish note, it was arguably a net bullish week for US equities, not least with a trio of index historic highs.
Next Mon/Tuesday will be inclined to be red, but this market has underlying strength, and I'd look for net weekly gains next week, with the SPX seeing an opex pin around 6900. 7K appears an eventuality, whether before or after Santa delivers, shouldn't matter to most.
Yours truly remains focused on silver, which after a forty five year breakout in October, appears the most obvious trade for years to come.
As for wild cards, even if you believe Trump will attack Venezuela, that doesn't seem likely until the flip side of New Years Eve. For now... net bullish into early 2026.
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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.
