February 26, 2017 The Week Ahead
Week after week, the market continues to push through new all-time highs. Regardless, how hard the media tries to paint the picture that the new administration is a mess, the markets are telling us a completely different story.
How long with this dislocation last?
It’s really hard to say. However, on Friday, the Dow Jones Industrials managed to have its 11th straight record high close.
And you know what else?
The VIX continues to hangout below 12. On Friday, the VIX closed at 11.47. Looking forward into the week, traders will be watching GDP numbers along with earnings.
Moving on to gold and oil.
Crude oil futures closed the week higher, finishing up about 1.00%. In precious metals, gold futures prices finished the week higher, gaining more than 1.5%
Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.44%, iShares 20+ Year Treasury Bond (TLT) +2.00%, SPDR Gold Shares (GLD) +1.37%.
Some key earnings include: Priceline, Hertz, Salesfore.com, and Costco.
Here is a list of some events that traders will be following:
Key Economic Data:
27 Feb 2017- Durable Goods Orders 8:30 AM ET
28 Feb 2017- GDP 8:30 AM ET, International Trade 8:30 AM ET
1 March 2017- Personal Income and Outlays 8:30 AM ET, ISM Manufacturing 10:00 AM ET, EIA Petroleum Status Report 10:30 AM ET
2 March 2017- Jobless Claims 8:30 AM ET.
Key Earnings:
27 Feb 2017- AES, AFSI, AMT, BID, EMES, HZNP, SSTK, DGI, EXEL, EOG, HTZ, KND, OKE, PCLN, PRGO, THC, WDAY, CST
28 Feb 2017- AZO, CNP, DDD, ENDP, NRG, NLNK, PAH, QVCA, SEAS, SHOO, TGT, VRX, AMBA, BUFF, CRM, DAR, ETSY, EVHC, HALO, LOGM, PANW, TSRO, UHS, VEEV, WTW
1 March 2017- AEO, BBY, CROX, DLTR, DY, IEP, KERX, LOW, MYL, ODP, WIN, AVGO, BOX, KIN, SHAK, XON, VSI
2 March 2017- ANF, BKS, BUD, BURL, JD, JOY, KR, TD, ZEUS, COST, HABT, MRVL, SGMS, WING
Key Events:
27 Feb 2017- JMP Securities Technology Conference (runs till 2/28); Mobile World Congress (runs till 3/2); Morgan Stanley Technology, Media and Telecom Conference (runs till 3/2)
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