November 6, 2016 The Week Ahead
The S&P 500 finished the week on a nine day losing streak as fears of a Donald Trump Presidency is now very much in play. Over the last two weeks, Hillary Clinton has lost a ton of momentum and the market has reacted in a similar fashion. However, on Sunday, the FBI’s Comey announced that Hillary was free of any wrong doing pertaining to her emails, and we’re seeing a nice bump in the futures prices on Sunday. We shall see what happens on election day Tuesday.
The VIX gained more than 6 points on the week and closed above 22.50 on Friday.
Crude oil futures price sold nearly 10% on the week, closing below $50 and now roughly 15% off the 52-week highs.
Earnings will be heavy again, but the main event is clearly the election on Tuesday.
Here is what else is on the schedule for the upcoming week:
Key Economic Data:
8 Nov 2016- U.S. Presidential Election
9 Nov 2016- EIA Petroleum Status Report 10:300 AM ET
10 Nov 2016- Jobless Claims 8:30 AM ET
Key Earnings:
7 Nov 2016- AMC, ARIA, BID, CTSH, DF,ELNK, FDC, HSBC, HZNP, LC, MGM, RACE, ROK, ACAD, CRAY, CZR, FANG, HTZ, MAR, NWSA, PCLN
8 Nov 2016- DHI, JCI, OA, QVCA, SEAS, VRX, W, TRIP
9 Nov 2016- COTY, DISH, KITE, WEN, WWAV, NTES, SHAK, SPWR, TASR, TUBE, VRTU
10 Nov 2016- AZN, FLO, M, KSS, PRGO, PRTY, RL, WIX, BUFF, DIS, JWN, KORS, NVDA
11 Nov 2016- JCP
Key Conferences:
7 Nov 2016- Credit Suisse Healthcare Conference (runs till 11/9); Edison Electric Institute Conference (runs till 11/9)
8 Nov 2016- Baird Industrial Conference (runs till 11/10); Stephens Fall Investor Conference (runs till 11/9)
9 Nov 2016- RBC Capital Tech, Internet, Media/Telco Conference (runs till 11/10); UBS Building & Building Products Annual CEO Conference (runs till 11/9); Wells Fargo Technology, Media & Telecom Conference (11/10)
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