Market Direction: BULLISH alert
issued 11/10/2016
Stock on the Radar (STAR)© was launched 6/19/2017 Sunday evening. When there is a new stock recommendations for the week it is typically made available late Sunday, so investors can prepare to take a position when the market opens Monday for trading.
Stock on the Radar (STAR)© was launched 6/19/2017 Sunday evening. When there is a new stock recommendations for the week it is typically made available late Sunday, so investors can prepare to take a position when the market opens Monday for trading.
Last Week Review: Stocks were mixed on the week as the S&P 500 was marginally lower, the Dow was unchanged, and the NASDAQ fell by 2.0% as continuing volatility in the technology sector weighed on investor sentiment. Additionally, investors closely examined banks' individual results of the Federal Reserve's annual stress test, which showed that all 34 U.S. banks that were tested maintained capital ratios above the Federal Reserve's minimum required level. This result helped the financial services sector move higher for the week.
According to the guardian digital information network, this week Irish authorities have established agreements with more than a dozen London-based banks to move some of their operations to Dublin prior to the conclusion of the Brexit process. Also this week, ECB chief Mario Draghi sparked a spike in bond yields both in Europe and in the US after talking about a move towards withdrawal of economic stimulus. And even though he later said the markets had misread his comments, yields have continued to climb.
President Trump met with new South Korean President Moon Jae-in this week. On top of the agenda of discussion items is the North Korean nuclear threat, on which both leaders agreed to coordinate efforts.
According to the guardian digital information network, this week Irish authorities have established agreements with more than a dozen London-based banks to move some of their operations to Dublin prior to the conclusion of the Brexit process. Also this week, ECB chief Mario Draghi sparked a spike in bond yields both in Europe and in the US after talking about a move towards withdrawal of economic stimulus. And even though he later said the markets had misread his comments, yields have continued to climb.
President Trump met with new South Korean President Moon Jae-in this week. On top of the agenda of discussion items is the North Korean nuclear threat, on which both leaders agreed to coordinate efforts.
How
the market finished last week, the S&P 500 down 0.6%, the Nasdaq down 2.0%,
and the Dow down 0.2%.
This Week: Next week should be rather
interesting as the markets will close at 1:00 PM ET on Monday (7/3) and remain
closed all day on Tuesday 7/4. It is likely that many people will make this
into a 4-day weekend and volumes will be extremely light on Monday but quite
heavy Wednesday through Friday.
With
only 3½ trading days next week, market moves will likely be muted until the
Federal Reserve releases its June meeting minutes, which will provide more
details about its plans to reduce the size of its balance sheet. The other
driver for next week will likely be the June jobs report that will be released
Friday morning.
Economic
Calendar: ISM Mfg Index (7/3), FOMC Minutes (7/5), ADP Employment Report (7/6),
International Trade (7/6), Employment Report (7/7)
Some of the major earnings announcements on deck: YUMC,
MLHR.
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