Week of January 14th Stock Market Watch
Two weeks in, and the stock market is off to an impressive start to the year, led by the Russell 2000 which is up over 7% year-to-date. That said, all major stock indices are positive in 2019. However, the true test comes now, as we enter earnings season.
Big Stories from last week:
- The government remains shutdown
- Fed Chairman Powell reassured Wall Street that he’ll remain patient about raising rates
- Oil prices continue to rally, 9/10 winning days
- Trade talks between the US and China keep moving slowly
That said, a lot of the major fears we had right before Christmas, seem to be subsiding.
Source: Yahoo
The VIX closed at 18.19 on Friday. A far cry from 36, where it was on Dec 24.
Here are how some of the most actively traded index ETFs performed over the week: SPDR S&P 500 ETF (SPY) +2.6%, iShares Russell 2000 ETF (IWM) +4.73%, SPDR Dow Jones Industrial Average ETF (DIA) +2.39%, Invesco QQQ Trust (QQQ) +2.85%
Here are how some of the most actively traded commodity and interest rate ETFs performed: United States Oil Fund (USO) +7.07%, iShares 20+ Year Treasury Bond (TLT) -0.97%, SPDR Gold Shares (GLD) +0.30%
Economic Releases:
15 Jan 2019- PPI 8:30 AM ET
16 Jan 2019- Retail Sales 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET
17 Jan 2019- Housing Starts 8:30 AM ET; Jobless Claims 8:30 AM ET; Philly Fed Survey 8:30 AM ET
18 Jan 2019- Industrial Production 9:15 AM ET
Key Earnings:
15 Jan 2019- DAL, JPM, UNH, WFC, UAL
16 Jan 2019- BAC, BK, GS, USB, SCHW, CSX, AA
17 Jan 2019- FAST, KEYS, TSM, AXP, NFLX, JBHT, OZK, RIO
18 Jan 2019- KSU, SLB, VFC, STT, RFF
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