Market Direction Week of August 14, 2017©

Market Direction: BEARISH alert issued 8/10/2017

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: U.S. stocks finished lower on the week, and the Dow Jones Industrial Average broke its streak of 10 straight daily gains on Wednesday. The weakness was mostly attributed to heightened geopolitical tensions surrounding North Korea. Historically, the market has brushed off similar concerns, quickly recovering from short-term pullbacks.

The U.S. equity market's string of new highs came to an end last week as stocks dropped midweek amid rising nuclear tensions with North Korea. While much of the focus recently has been on improving economic readings, corporate earnings announcements, Fed policy and political theatrics in Washington, last week provided a reminder that the uncertain geopolitical environment represents a near-term risk to positive investor sentiment that has pushed stocks to record levels.

A more uncertain, volatile environment can prompt investors to feel that a more active, nimble strategy is necessary or that a flight to “safe” investments, such as cash or gold, is appropriate. History shows us that geopolitical risks can influence markets for short periods, but it's typically the broader fundamentals that will set the tone for markets over time.

How the market finished last week, the S&P 500 down 1.4%, the Nasdaq down 1.5%, and the Dow down 1.1%.

This Week: This week sees a return of the fundamentals, with a whole host of economic releases to watch out for. Particular attention will be fair on the pound, ahead of the release of inflation, retail sales, and jobs data. Meanwhile, the Federal Open Market Committee (FOMC) minutes will keep the dollar in focus amid tentative signs of a resurgence.

On the corporate front, keep an eye out for a host of high street names from the US, with Gap, Wal-mart, Home Depot, Urban Outfitters, Staples, and Target all reporting their latest earnings figures. The FTSE 100 also has a whole host of big names releasing data, with the likes of Admiral, Balfour Beatty, Kingfisher, and Rank Group stepping up to the plate.

Economic Calendar: Retail Sales (8/15), Empire State Mfg Survey (8/15), FOMC Minutes (8/16), Leading Indicators (8/17), Consumer Sentiment (8/18)

Some of the major earnings announcements on deck: WMT, TJX, HD, BABA, ROST.

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