December 3, 2017 The Week Ahead
The market continues to grind higher, despite seeing a spike in volatility on Friday. A fake news report from an ABC News Anchor claiming that Lt. Gen. Michael Flynn was ready to testify against President Trump. The story was later retracted days later.
The SPY traded in a range between 260.76 and 265.31 on Friday. However, it only closed down 0.21%.
The next political headline that could be a catalyst is the tax bill, as its been passed by the Senate.
The “fear index” closed at 11.4 on Friday; and as high as 14.5 during the time the ABC news story was breaking.
Source: TradingView
Here are how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) +1.57%, iShares Russell 2000 (IWM) +1.37%, SPDR Dow Jones Industrials Average ETF (DIA) +2.96%, and PowerShares QQQ ETF (QQQ) -1.13%
Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) -1.02%, iShares 20+ Year Treasury Bond (TLT) -0.20%, SPDR Gold Shares (GLD) -0.60%
Below you’ll find what is else is on the schedule for the week:
Economic Releases:
5 Dec 2017- International Trade 8:30 AM ET
6 Dec 2017- EIA Petroleum Status Report 10:30 AM ET
7 Dec 2017- Jobless Claims 8:30 AM ET
8 Dec 2017- Employment Situation 8:30 AM ET
Key Earnings:
4 Dec 2017- ASNA, COUP
5 Dec 2017- AZO, BMO, FRAN, HDS, JILL, TOL, IDT, OXM, PLAY, POWL, RH, VEEV
6 Dec 2017- AEO, FRED, HRB, VRA, AVGO, KEYS, SEAC, VRNT, OLLI
7 Dec 2017- CIEN, DVMT, EYE, MCC, MTN, VNCE, FNSR, UNFI
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