September 25, 2016 The Week Ahead
The S&P 500 closed the week 1.2% higher. The markets reacted positively to the FOMC decision, with only two more meetings left, the chances of the Fed not increasing rates at all this year has gotten higher. With fear of a rate hike decreased, we’ve seen a sell off in VIX and risk-on attitude.
Of course, there are some interesting events coming up this week. For example, the first US Presidential Debate, and the big informal Opec Meeting, which is sure to drive volatility in the oil markets.
The VIX has gone from 17.50 back down to 12.29 over the last two weeks.
Crude oil futures prices surged about 3.5% higher on the week. It’s worth mentioning there is an informal OPEC meeting on the 26th to the 28th of this month. This, of course, this should heighten volatility in the crude futures market.
Moving on, gold futures prices had five straight positive days as it closed 2% higher. In addition, T-bond futures prices gained more than 1% on the week, and had five straight positive days.
Here is what else is on the schedule for the upcoming week:
Key Economic Data:
26 Sep 2016- New Home Sales 10:00 AM ET
28 Sep 2016- Durable Goods Orders 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET
29 Sep 2016- GDP 8:30 AM ET; International Trade in Goods 8:30 AM ET; Jobless Claims 8:30 AM ET
30 Sep 2016- Personal Income and Outlays 8:30 AM ET
Key Earnings:
26 Sep 2016- CCL, CALM, SNX, THO, MTN
27 Sep 2016- FDS, NKE
28 Sep 2016- PAYX, PIR, ATU, IDT
29 Sep 2016- CAG, PEP, CAMP, COST
Key Conferences:
26 Sep 2016- Bank Leveraged Finance Conference (runs till 9/28)
27 Sep 2016- Dougherty Institutional Investor Conference (runs till 9/28)
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