February 5, 2017 The Week Ahead
Overall, the markets were relatively flat during the week. With that said, earnings thus far haven’t been really exciting. We got some positive results out of Apple and Facebook. However, Amazon disappointed some, but nothing bad where it caused a significant sell-off in other areas of the market.
In economic news, the FOMC meeting resulted in no changes to the key interest rate. However, they still have a plan for several rate hikes this year. One important change in their language was that they are now saying that inflation will rise vs. expected too.
Outside of that, a lot of the media attention is around the first 100 days of President Trump.
Despite all the protesting and the media trying their best to make the new regime appear toxic, the market thus far is not buying into any of it. With that said, the VIX closed at 10.97 on Friday.
Going into the week, traders will be mainly focused on earnings.
Moving on to energy.
Crude oil futures closed the week pretty strong, having 3 out of 5 winning days and ending up 1.21%. On the other hand, gold futures prices finished the week down more than 1.3%
Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +1.23%, iShares 20+ Year Treasury Bond (TLT) -0.31%, SPDR Gold Shares (GLD) +2.33%.
Some key earnings include: Disney, Time Warner, Twitter, CVS, and Coca-Cola to name a few.
Here are a list of events that traders will be watching:
Key Economic Data:
7 Feb 2017- International Trade 8:30 AM ET
8 Feb 2017- EIA Petroleum Status Report 10:30 AM ET
9 Feb 2017- Jobless Claims 8:30 AM
Key Earnings:
6 Feb 2017- BWP, HAS, L, NEWL, TSN, CBOE, SYY, DO, FOXA, HMN, LYB, MAC, TSO, YRCW
7 Feb 2017- ADM, BP, CAH, CDW, EMR, FIS, GM, ICE, KORS, MNK, NOV, SABR, TDG, TEN, VMC, AKAM, BWLD, DIS, GILD, GNW, JIVE, LITE, MCHP, MDLZ, NUAN, ORLY, PAA, PNRA, PAGP, PXD, TCS, TDW, TTWO, TWLO, ULTI, YUMC, ZG
8 Feb 2017- AXTA, CTSH, EXC, GRA, GRUB, HUM, LPX, RIO, OC, SNY, TWX, VOYA, DNB, FISV, GLUU, IRBT, LVLT, MC, PAYC, SCSS, TRMB, TYL, WFM, ZEN
9 Feb 2017- BATS, BWA, BZH, CLF, COTY, CVS, DNKN, K, KKR, KO, LIVE, MAS, MHK, OXY, PTEN, RAI, TDC, TWTR, VIAB, VRTU, WWE, YUM, ATVI, CERN, CYBR, EXPE, INFN, JCOM, LPLA, MNK, NCR, MPWR, NVDA, NWSA, P, RICK, UBNT, VRSN, WU, YELP, ZAYO, ZNGA
10 Feb 2017- AXL, G, MT
Key Events:
6 Feb 2017- Credit Suisse Financial Services Forum (runs till 2/8)
8 Feb 2017- Cowen 38th Annual Aerospace, Defense & Industrials Conference (runs till 2/9)
9 Feb 2017- KBW Winter Financial Services Symposium (runs till 2/10)
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