Week of December 24th Stock Market Watch

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Stocks continue to sell off as we head into Christmas and New Year’s. If the situation doesn’t improve, this will be the worst year for stocks since 2008. Over the last week, stocks like Alibaba, Amazon, Facebook, and Unitedhealth fell by more than 10%.

That said, there are a number of reasons to hate this market, they include:

  • The government shutdown
  • Rising interest rates
  • Fears of an economic downturn
  • Loss of confidence in the Federal Reserve Bank
  • Crashing oil prices
  • Uncertainty with Brexit

It’s probably safe to say, there will be on Santa Claus rally this year…

The VIX closed at 30.11 on Friday. Last week we mentioned that when VIX gets above 30 and above, the market is in state of panic. Well, welcome to the panic room.

Here are how some of the most actively traded index ETFs performed over the week: SPDR S&P 500 ETF (SPY) -7.59, iShares Russell 2000 ETF (IWM) -8.70%, SPDR Dow Jones Industrial Average ETF (DIA) -7.18%, Invesco QQQ Trust (QQQ) -8.39%

Here are how some of the most actively traded commodity and interest rate ETFs performed: United States Oil Fund (USO) -11.55%, iShares 20+ Year Treasury Bond (TLT) +1.89%, SPDR Gold Shares (GLD) +1.42%

The markets will be open for a half day on Monday, and closed on Tuesday, for the Christmas holiday.

Economic Releases:
27 Dec 2018- Jobless Claims 8:30 AM ET; New Home Sales 10:00 AM ET

28 Dec 2018- International Trade In Goods 8:30 AM ET; EIA Petroleum Status Report 11:00 AM ET

Key Earnings:
None

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December 17, 2017 The Week Ahead

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The markets continue to soar higher as we approach Christmas and the end of year. Despite all this, cryptocurrencies and politics continue to steal the headlines. Last Sunday bitcoin futures were introduced, however, they’ve yet to curb volatility in the name.

Last Wednesday, the FOMC raised interest rates, as expected by most Wall Street Analysts.

A majority of the trading action has been in companies that have some loose affiliation to cryptocurrencies and blockchain. This trend should continue for the last few weeks of the trading season.

Some earnings worth noting this week include: Nike, Federal Express, and Micron.

The “fear index” closed at 9.40 on Friday, as it now sits near the 52-week lows.

graph
Source: TradingView

Here are how some of the most traded ETFs performed over the week: SPDR S&P 500 ETF (SPY) +0.38%, iShares Russell 2000 (IWM) +0.55%, SPDR Dow Jones Industrials Average ETF (DIA) +1.08%, and PowerShares QQQ ETF (QQQ) +1.91%

Here is how some futures/commodity related ETF’s performed over the week: United States Oil Fund (USO) -0.26%, iShares 20+ Year Treasury Bond (TLT) +1.31%, SPDR Gold Shares (GLD) +0.59%.

Below you’ll find what is else is on the schedule for the week:

Economic Releases:
19 Dec 2017- Housing Starts 8:30 AM ET
20 Dec 2017- Existing Home Sales 10:00 AM ET; EIA Petroleum Status Report 10:30 AM ET
21 Dec 2017- Jobless Claims 8:30 AM ET; GDP 8:30 AM ET; Philly Fed Survey 8:30 AM ET
22 Dec 2017- Durable Goods Orders 8:30 AM ET; Personal Income and Outlays 8:30 AM ET; New Home Sales 10:00 AM ET

Key Earnings:
19 Dec 2017- CCL, DRI, FDS, NAV, WOR, FDX, MU, RHT, SCS
20 Dec 2017- BBBY, GIS, ATU
21 Dec 2017- ACN, FINL, APOG, CAG, HOV, KMX, PAYX, CAMP, NKE, CTAS

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