Stock Market Watch for the Week of February 18th
Stocks closed the week strong, as the Dow posted its 8th straight weekly gain. That said, we’re entering a busy week of trading, despite the markets being closed on Monday for Presidents Day.
Some of the upcoming highlights this week include the FOMC minutes and jobless claims. And of course, earnings. That said, 46 S&P 500 names report, including CVS and Walmart.
Earnings have been good enough to keep this market pushing higher. However, the Federal Reserve Bank deserves a lot of the credit for this year’s move higher. By letting the market know that the Fed will most likely not raise rates this year, it has given investors confidence.
However, uncertainty remains. Specifically, the U.S.-China trade talks are still very much in the air. If a deal unravels, it could push equities lower.
Volatility has come in a lot since December 24, when the VIX traded above 36. However, it closed at 14.91 on Friday, a sign that traders are becoming complacent once again.
Source: Yahoo
Here are how some of the most actively traded index ETFs performed over the week: SPDR S&P 500 ETF (SPY) +2.55%, iShares Russell 2000 ETF (IWM) +4.25%, SPDR Dow Jones Industrial Average ETF (DIA) +2.92%, Invesco QQQ Trust (QQQ) +2.01%
Here are how some of the most actively traded commodity and interest rate ETFs performed: United States Oil Fund (USO) +5.69%, iShares 20+ Year Treasury Bond (TLT) -0.30%, SPDR Gold Shares (GLD) +0.48%
Economic Releases:
20 Feb 2019- FOMC Minutes 2:00 PM ET
21 Feb 2019- Durable Goods Orders 8:30 AM ET; Jobless Claims 8:30 AM ET; Philly Fed Survey 8:30 AM ET; Existing Home Sales 10:00 AM ET; EIA Petroleum Status Report 11:00 AM ET
Key Earnings:
19 Feb 2019- AAP, FDP, GPC, NBL, TEX, TTS, WMT, CDNS, DVN, FANG, FE, FIVN, HST, LZB, LC, RARE
20 Feb 2019- CVS, GCI, HFC, LAMR, NI, OC, SAH, TRGP, CAKE, CAR, CONE, ET, GDDY, IVR, JACK, LASR, SAM, TYL, WPG, Y
21 Feb 2019- BG, ROCK, TTC, VC, VG, WPX, PLAB, PWR, AAOI, EXAS, ZG, STMP, SGMS, ROKU, PRA, OLED, CZR, CUBE, BEAT, WEN, WPX
22 Feb 2019- AN, B, COG, PNW, SNR, W, WPC
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