Market Direction: BULLISH alert
issued 11/10/2016
Last Week Review: The Dow Jones Industrial
Average (Dow) closed at 20,069 on Wednesday, Jan. 25, making it the first time
the Dow has closed above the 20,000 milestone. The Dow rose further on Thursday
to close at a record high. Other broad U.S. stock market indexes (such as the
S&P 500 and the Nasdaq) closed at record highs on Wednesday. Better
economic growth and rising earnings, combined with improving investor
sentiment, have also pushed international stocks higher. We think global stocks
will stay on a rising trend, but there's likely to be more volatility ahead,
too. In addition, interest rates have risen, pushing bond prices down.
How
the market finished last week, the S&P 500 up 1.0%, the Nasdaq up 1.9%, and
the Dow up 1.3%.
This Week: The week ahead will see key
announcements from four central banks, providing insight into monetary policy
around the world. We also get a swathe of PMIs from China, the US and the UK,
while the week culminates in the monthly US jobs report.
The
week just past has seen a resurgence in the US dollar, which imperils uptrends
in the Aussie, euro and sterling. US markets touched a record high, and whether
this sees fresh buying will be an important topic for investors around the
globe.
Economic
Calendar: Personal Income and Outlays (1/30), Consumer Confidence (1/31), Employment
Index Cost (1/31), ISM Mfg Index (2/1), Employment Report (2/3)
Some of the major earnings announcements on deck: AAPL,
FB, MO, CMG, COP, V.
$tockMarketDirection proprietary model is currently BULLISH. We strongly encourage you to monitor positions closely, exercise proper money management strategies
and follow us at $tockMarketDirection for ALERTS we may issue advising a
change in the current market direction. Stay tuned and follow us. If
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