The markets continued to grind higher this past week with all indices making notable gains. The Dow had its best weekly gain since January. The week began with concerns focusing on the impending conflict with Syria. However, recent actions by the United States and Russia have reduced these fears since it appears United States bomb strikes are less likely and a peaceful solution seems to be on the horizon.
While this past week was dominated by the potential Syrian conflict, this week will focus on federal stimulus and the anticipated tapering this coming week. While recent economic news has been less than stellar, the market seems to have mildly priced in the feds announcing Wednesday that they will begin tapering. While the market seems to have priced in tapering concerns, the impact on the market will be determined by the degree of tapering and the timeline. If the Feds decide not to taper this Wednesday, it will likely push the market even higher.
Reports this week include: Consumer Price Index (9/17), Housing Starts, FOMC Rate Decision (9/18), and Existing Homes Sales (9/19).
While this past week was dominated by the potential Syrian conflict, this week will focus on federal stimulus and the anticipated tapering this coming week. While recent economic news has been less than stellar, the market seems to have mildly priced in the feds announcing Wednesday that they will begin tapering. While the market seems to have priced in tapering concerns, the impact on the market will be determined by the degree of tapering and the timeline. If the Feds decide not to taper this Wednesday, it will likely push the market even higher.
Reports this week include: Consumer Price Index (9/17), Housing Starts, FOMC Rate Decision (9/18), and Existing Homes Sales (9/19).
Some of the major earnings announcements on deck: Adobe, Fedex and Oracle
$tockMarketDirection is in a Bullish Posture. We strongly encourage our many bloggers/followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current bullish posture. Cha-ching.
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