Stock Market Watch for the Week of January 28th

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Stocks are looking to close the first month of the year in impressive fashion. All major stock indices are up. Led by small-caps, the Russell 2000 is up 10% this year. That said, we’re entering the most important period of January, as a number of high profile stocks are set to report earnings, names like FB, TSLA, AMZN, MSFT, AAPL, MRK and much more.

In addition to a slew of earnings, the FOMC is meeting on Wednesday. However, it appears that the Fed is going to work with the market, and not announce a rate hike during this meeting. One could argue that comments from Fed officials over the past few weeks has been a catalyst to the market rally.

Now, there is still plenty of market uncertainty. For example, the government did reopen, but only for three weeks until an agreement can be made. Also, trade talks with China are still ongoing with no resolution in sight.

That said, the VIX closed at 17.48 on Friday, as markets rallied off the news that the government will be reopened.

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Source: Yahoo

Here are how some of the most actively traded index ETFs performed over the week: SPDR S&P 500 ETF (SPY) +1.07%, iShares Russell 2000 ETF (IWM) +1.04%, SPDR Dow Jones Industrial Average ETF (DIA) +1.47%, Invesco QQQ Trust (QQQ) +0.93%

Here are how some of the most actively traded commodity and interest rate ETFs performed: United States Oil Fund (USO) +1.99%, iShares 20+ Year Treasury Bond (TLT) +0.28%, SPDR Gold Shares (GLD) +0.61%

Economic Releases:
29 Jan 2019- International Trade in Goods 8:30 AM ET

30 Jan 2019- GDP 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET; FOMC Meeting Announcement 2:00 PM ET

1 Feb 2019- Employment Situation 8:30 AM ET

Key Earnings:
28 Jan 2019- AKS, GGG, WHR, RMBS, CAT, ETH

29 Jan 2019- EAT, DOV, BIIB, GLW, HCA, HOG, LLL, LMT, NUE, PCAR, ROK, VZ, VRX, AAPL, AMGD, AMD, EBAY, HA, JNPR, KLAC, MXIM, PEG, RHI, SYK

30 Jan 2019- ADP, ALLY, ANTM, BA, BEN, GD, HP, MCD, NDAQ, SIRI, T, TMO, CREE, CRUS, DLB, FB, FICO, MDLZ, MSFT, MUR, NOW, PYPL, QCOM, TSLA, V, WYNN

31 Jan 2019- BAX, CHTR, CELG, COP, EPD, GE, MA, NOC, S, UPS, VLO, AMZN, POST, MCK, SYMC

1 Feb 2019- BAH, BERY, CI, CVX, D, HON, JCI, KKR, LYB, MSG, MRK, SPG, WY, XOM, ZBH

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