December 20, 2015 The Week Ahead
The SPDR S&P 500 (SPY) had a rough week following the FOMC decision to raise key interest rates for the first time in nearly a decade. The reaction thus far has not been positive from the markets, the SPY dropped nearly 1% and is negative on the year.
The VIX actually dropped during the week, however; it still closed above 20 on Friday.
Crude oil futures continue to get hit, as they are now down more than 40% on the year and close to 20% on the month.
Will the selling pressure continue or will get the Christmas rally?
We will know soon enough. With that said, this is a shortened week due to the Christmas Holiday. Thursday is a half day and Friday we are off. Expect volumes to dry up or be low this week.
Here’s what is on tap this coming week:
Key Economic Data:
22 December 2015- GDP 8:30 AM ET, Existing Home Sales 10:00 AM ET
23 December 2015- Durable Goods Orders 8:30 AM ET, Personal Income and Outlays 8:30 AM ET, New Home Sales 10:00 AM ET
24 December 2015- Jobless Claims 8:30 AM ET
Key Earnings:
22 December 2015- CAG, MU, CAMP, NKE, PAYX