June 25, 2017 The Week Ahead
The markets returned back to it’s winning ways this week, all major indices closed higher lead by the Nasdaq. The VIX closed at 10,02 on Friday, creeping back towards historic lows.
The healthcare sector was the strongest leader, the iShares Nasdaq Biotechnology ETF (IBB) gained nearly 10% on the week.
Despite the media scrutinizing the administration and oil prices down over 20% on the year the markets seem unfazed. No one knows if and when a correction will occur. We’ll be looking at GDP numbers on Friday for insight on how the overall economy has been performing.
Here are how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) +0.20%, iShares Russell 2000 (IWM) 0.51%, SPDR Dow Jones Industrials Average ETF (DIA) +0.08%, and PowerShares QQQ ETF (QQQ) +2.24%
Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) -4.11%, iShares 20+ Year Treasury Bond (TLT) +1.13%, SPDR Gold Shares (GLD) +0.08%.
Earnings highlights for the week include: Nike, Micron Technology, and Walgreens.
Below you’ll find what is else is on the schedule for the week:
Key Economic Data:
26 June 2017- Durable Goods 8:30 AM ET;
28 June 2017- International Trade in Goods 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET
29 June 2017- GDP 8:30 AM ET; Jobless Claims 8:30 AM ET; Personal Income and Outlays 8:30 AM ET
Key Earnings:
26 June 2017- SCHN
27 June 2017- INFO, FDS, CAMP, KBH
28 June 2017- GIS, MON, PAYX, UNF, PIR, SHLM
29 June 2017- CAG, RAD, STZ, WBA, MU, NKE
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