September 11, 2016 The Week Ahead
The S&P 500 closed the week on heavy selling, snapping a two month trading streak of nothing having a +/- 1% move. With that said, we’re still not that far off from all-time highs. There was not one single catalyst that caused Friday’s sell-off, so it will be interesting to see if this was a one off or if the selling pressure continues Sunday night when the futures start trading again.
With the S&P 500 getting crushed on Friday, the VIX absolutely exploded, moving nearly 40% higher and closing at 17.50.
Crude oil futures prices cooled off on Friday, closing down nearly 4%. However, it still closed more than 6% higher on the week.
Moving on, gold futures prices gained a slight edge from the previous week. In addition, T-bond futures prices fell about 2% on the week.
Here is what else is on the schedule for the upcoming week:
Key Economic Data:
14 Sep 2016- EIA Petroleum Status Report 10:30 AM ET
15 Sep 2016- Jobless Claims 8:30 AM ET, PPI 8:30 AM ET, Retail Sales 8:30 AM ET, Philly Fed Survey 8:30 AM ET, Industrial Production 9:15 AM ET
16 Sep 2016- Consumer Price Index 8:30 AM ET
Key Earnings:
12 Sep 2016- UNFI, PSDV
14 Sep 2016- CBRL, APOG
15 Sep 2016- ORCL
Key Conferences:
12 Sep 2016- Barclays Global Financial Services Conference (runs till 9/14); Credit Suisse Global Steel & Mining Conference (runs till 9/13); Morgan Stanley Global Healthcare Conference (runs till 9/14)
13 Sep 2016- Deutsche Bank Technology Conference (runs till 9/14)
14 Sep 2016- Credit Suisse Basic Materials Conference
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