Stock Market Watch For the Week of July 8th

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The S&P 500 and Dow Jones are sitting near all-time highs. One of the reasons pushing stocks higher has been the belief that the Federal Reserve Bank will be initiating rate cuts later this year, starting this month.

However, a positive jobs number on Friday spooked the market. And stocks sold-off and are experiencing weakness going into Monday’s trading.

That said, it’s all about the Fed this week, as Jerome Powell is set to give two speeches, and the FOMC minutes release is this Wednesday.

Right now the market is expecting the Fed cuts rates, but it will be interesting to see what Powell has to say after last week’s jobs numbers.

As of now, the market appears nervous, and the VIX is starting to steadily climb.

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Source: Yahoo

Here are how some of the most actively traded index ETFs performing over the week: SPDR S&P 500 ETF (SPY) 2.39%; iShares Russell 2000 ETF (IWM) +1.99%; SPDR Dow Jones Industrial Average ETF (DIA) +1.55%; Invesco QQQ Trust (QQQ) +2.44%

Here is how some of the most actively traded commodity and interest rate ETFs performed: United States Oil Fund (USO) -2.77%, iShares 20+ Year Treasury Bond (TLT) -0.35%, SPDR Gold Shares (GLD) -0.53%

Economic Releases:
10 July 2019- EIA Petroleum Status Report at 10:30 AM ET; FOMC Minutes 2:00 PM ET

11 July 2019- CPI 8:30 AM ET; Jobless Claims 8:30 AM ET

Earnings Releases:
9 July 2019- PEP; HELE; LEVI

10 July 2019- ANGO; BBBY; PSMT; VOXX

11 July 2019- DAL; FAST

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