July 4, 2017 The Week Ahead

Over the last couple of weeks we’ve started to see some sector rotation, while the S&P 500 has been relatively flat that hasn’t been the case for Nasdaq stocks as they’ve been under pressure of late. Banks are starting to show strength after passing the stress test last week.

The overall stock market has posted impressive gains over the first 6 months of 2017. On the other hand, the oil sector has been relatively weak. The United States Oil Fund is down nearly 18% year-to-date.

Here are how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) -0.40%, iShares Russell 2000 (IWM) +0.72%, SPDR Dow Jones Industrials Average ETF (DIA) +0.29%, and PowerShares QQQ ETF (QQQ) -3.12%

Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) +7.73%, iShares 20+ Year Treasury Bond (TLT) -2.96%, SPDR Gold Shares (GLD) -1.92%.

There isn’t much on the earnings schedule for this shortened week of trading.

Below you’ll find what is else is on the schedule for the week:

Key Economic Data:
5 July 2017- FOMC Minutes 2:00 PM ET;
6 July 2017- International Trade 8:30 AM ET; Jobless Claims 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET
7 July 2017- Employment Situation 8:30 AM ET

Key Earnings:
5 July 2017- YUMC, PSMT

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