December 17, 2017 The Week Ahead

The markets continue to soar higher as we approach Christmas and the end of year. Despite all this, cryptocurrencies and politics continue to steal the headlines. Last Sunday bitcoin futures were introduced, however, they’ve yet to curb volatility in the name.

Last Wednesday, the FOMC raised interest rates, as expected by most Wall Street Analysts.

A majority of the trading action has been in companies that have some loose affiliation to cryptocurrencies and blockchain. This trend should continue for the last few weeks of the trading season.

Some earnings worth noting this week include: Nike, Federal Express, and Micron.

The “fear index” closed at 9.40 on Friday, as it now sits near the 52-week lows.

Source: TradingView

Here are how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) +0.38%, iShares Russell 2000 (IWM) +0.55%, SPDR Dow Jones Industrials Average ETF (DIA) +1.08%, and PowerShares QQQ ETF (QQQ) +1.91%

Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) -0.26%, iShares 20+ Year Treasury Bond (TLT) +1.31%, SPDR Gold Shares (GLD) +0.59%.

Below you’ll find what is else is on the schedule for the week:

Economic Releases:
19 Dec 2017- Housing Starts 8:30 AM ET
20 Dec 2017- Existing Home Sales 10:00 AM ET; EIA Petroleum Status Report 10:30 AM ET
21 Dec 2017- Jobless Claims 8:30 AM ET; GDP 8:30 AM ET; Philly Fed Survey 8:30 AM ET
22 Dec 2017- Durable Goods Orders 8:30 AM ET; Personal Income and Outlays 8:30 AM ET; New Home Sales 10:00 AM ET

Key Earnings:
19 Dec 2017- CCL, DRI, FDS, NAV, WOR, FDX, MU, RHT, SCS
20 Dec 2017- BBBY, GIS, ATU
21 Dec 2017- ACN, FINL, APOG, CAG, HOV, KMX, PAYX, CAMP, NKE, CTAS

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