December 11, 2016 The Week Ahead
The S&P 500 had another impressive week, gaining more than 3% and up 6% over the last 30 days. On the other hand, the Russell 2000 has been even more impressive, gaining nearly 6% on the week and almost 16% over the last 30 days. With that said, all eyes are focused in on the FOMC and how the market will react to a widely anticipated rate hike.
Based on how the VIX close on Friday, there is very little fear in the market at the moment. The VIX is now trading below 12, and closed at 11.75 on Friday.
Crude oil futures prices were relatively flat on the week after last week’s surge to near 52-week highs. They’re trading above $50 per barrel and threatening to take out this year’s highs.
Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) -0.35%, iShares 20+ Year Treasury Bond (TLT) -1.77%, SPDR Gold Shares (GLD) -1.56%.
Here are some important events worth watching during the week:
Key Economic Data:
14 Dec 2016- PPI 8:30 AM ET, Retail Sales 8:30 AM ET, Industrial Production 9:15 AM ET, EIA Petroleum Status Report 10:30 AM ET, FOMC Meeting 2:00 PM ET, FOMC Forecasts 2:00 PM ET, Fed Chair Press Conference 2:30 PM ET
15 Dec 2016- Consumer Price Index 8:30 AM ET, Jobless Claims 8:30 AM ET, Philly Fed Survey 8:30 AM ET
16 Dec 2016- Housing Starts 8:30 AM ET
Key Earnings:
12 Dec 2016- KMG, RENN, STRP, PAY
13 Dec 2016- GMS, HEI
14 Dec 2016- APOG, ARWR, JOY, LAKE, PIR,
15 Dec 2016- AIR, ADBE, JBL, NAV, ORCL, RAD, SAFM, SCHL
16 Dec 2016- CCL
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