July 2, 2018 The Week Ahead
U.S. stocks closed Friday on a positive note. However, declined during the week. The focus still remains on trade moving forward. An ex-factor could be oil, as oil prices have surged over the last two weeks, WTI crude is at its highest level since November 2014.
Stocks in play included: ESV +14.3%; MSG +11.3; NKE +8.51; WWE +8.46%
Here are how some of the most widely traded index ETFs performed over the week:
Powershares QQQ ETF (QQQ) -2.09%, SPDR S&P 500 ETF (SPY) -1.26%, SPDR Dow Jones Industrial Average ETF (DIA) -1.20%, iShares Russell 2000 ETF (IWM) -2.41%
The VIX climbed higher, finishing it at 16.09 on Friday.
Here are how some futures and commodity ETFs performed over the week: United States Oil Fund (USO) +7.40%, iShares 20+ Year Treasury Bond (TLT) +0.99%, SPDR Gold Shares (GLD) -1.40%
Expect low volumes for the first week of July. There isn’t much on the earnings table and there is a half day on the 3rd, with the markets being closed on the 4th.
Economic Releases:
2 July 2018- ISM Mfg Index 10:00 AM ET
5 July 2018- Jobless Claims 8:30 AM ET; EIA Petroleum Status Report 11:00 AM ET; FOMC Minutes 2:00 PM
6 July 2018- Employment Situation 8:30 AM ET; International Trade 8:30 AM ET
Key Earnings:
2 July 2018- SWK
3 July 2018- AYI
5 July 2018- PSMT
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