It was a mixed week for US equity indexes, with net weekly changes ranging from +4.5% (Nasdaq comp'), +2.3% (SPX), +1.7% (R2K), +0.2% (Dow), -0.4% (NYSE comp'), to -1.9% (Trans).
Lets take our regular look at six of the main US indexes (monthly candle charts)
sp'500
Nasdaq comp'
Dow
NYSE comp'
R2K
Trans
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Summary
Four US equity indexes were net higher for the week, with two net lower
The Nasdaq was powerfully higher, whilst the Transports was sig' lower.
The SPX, Nasdaq, and R2K broke new historic highs.
More broadly, five indexes are trading above their respective 10MA, and have positive monthly momentum. The exception is the NYSE comp'.
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Looking ahead
Earnings:
M - $CRCL $CEG $B $MNDY $MOS $XGN $CGBD $CRON $FSK $VFF $HIMS $ASTS $RGTI $MARA $BW $ACHR $CLSK $GPRO $MVST
T - $QBTS $AG $KOPN $VG $ONON $SE $JD $ACHV $BETA $AMTM $OKLO $KRMN $ELMD $NXT $FNV $AEYE $ANDG $ATRO $OPRX $EVLV
W - $NBIS $BABA $EOSE $DT $WIX $ICL $VLN $VSH $GLBE $KYIV $CSCO $ENVX $USAR $AQST $PEW $DOCS $BEAT $CPA $LESL $FLNT
T - $ONDS $BN $KLAR $LUNR $BLSH $IMSR $SBC $YETI $SUNS $VIK $NIU $FIG $AMAT $NN $RUM $BZAI $BLNE $BRFH $CODX $BSEM
F - $SPRY $HTHT $PAVM $RMIX $SACH $SLE $AZ $ALK $MHH $RBC
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Econ-data/events
M - Existing home sales
T - CPI, NFIB optimism, US t-budget (2pm)
W - PPI, EIA Pet'
T - Retail sales, Weekly jobs, import prices, busin' invent'
F - Empire state manu', indust' prod', home builder conf'. *OPEX*
As Friday is OPEX, I'd expect considerable chop on higher vol'
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Final note
Suffice to add... I'm net bullish into the SpaceX IPO, due mid/late June. We can expect some degree of mainstream hysteria, to surround what will likely be the biggest IPO of all time. Friday's price action in Rocket Lab was a sign of what is to come.
Whilst the war continues, the market has a massive distraction, that should carry us upward into the summer. As ever... be sure to have enough popcorn for episode 2026 of 'Planet Krazy'.
Have a good weekend
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*the next post on this page will likely appear 6pm EDT on Monday.
