December 3, 2017 The Week Ahead

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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.

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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.

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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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