Market Direction: BULLISH alert
issued 9/21/2017
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. large-cap stocks edged higher for the eighth week in a row, a feat that has not been achieved since 2006. These gains came in a week that featured a multitude of earnings reports, the nomination of a new Federal Reserve chair, and the release of the House of Representatives' tax plan. A new Fed chair and the possibility for changes to the tax code could introduce additional uncertainty into markets going forward.
Key highlights for this past week:
Earnings season is about half over now. So far 269 companies (54%) of the S&P 500 have reported.
As expected, ECB (European Central Bank) President Mario Draghi announced a reduction in the ECB’s 2018 asset purchases on Thursday (10/26). Unlike the Fed’s tapering program, which began in May 2013) a significant downturn in European equity markets did not precede the announcement and is not expected now. The plan was somewhat more gradual than expected as it calls for the ECB to buy fewer bonds per month but extend its purchases until at least September 2018.
Last weekend, Japanese Prime Minister Shinzo Abe and his Liberal Democratic party won a decisive re-election victory, and retained a two thirds majority in the lower-house. This was a snap election called more than a year before it was scheduled to happen. With the Nikkei index recently hitting 21-year highs, at least part of his popularity may be driven by stock market performance.
How the market finished last week, the S&P 500 up 0.3%, the Nasdaq up 0.9%, and the Dow up 0.4%.
This Week: The earnings season is winding down with only 48 companies in the S&P 500 reporting earnings over the next week. The economic news will also be slower with the University of Michigan's Consumer Sentiment report set to be released on Friday.
$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
you have a testimonial or comment of how this website has helped you we would like to know, write us. Share with a friend. Cha-ching.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. large-cap stocks edged higher for the eighth week in a row, a feat that has not been achieved since 2006. These gains came in a week that featured a multitude of earnings reports, the nomination of a new Federal Reserve chair, and the release of the House of Representatives' tax plan. A new Fed chair and the possibility for changes to the tax code could introduce additional uncertainty into markets going forward.
Key highlights for this past week:
·
Perspective on the Federal Reserve and October's
Jobs Report
·
Federal Reserve Keeps Short-term Interest Rates
Steady
·
President Trump Nominates Jerome Powell for Federal
Reserve Chair
·
Job
Gains Bounce Back in October
Earnings season is about half over now. So far 269 companies (54%) of the S&P 500 have reported.
As expected, ECB (European Central Bank) President Mario Draghi announced a reduction in the ECB’s 2018 asset purchases on Thursday (10/26). Unlike the Fed’s tapering program, which began in May 2013) a significant downturn in European equity markets did not precede the announcement and is not expected now. The plan was somewhat more gradual than expected as it calls for the ECB to buy fewer bonds per month but extend its purchases until at least September 2018.
Last weekend, Japanese Prime Minister Shinzo Abe and his Liberal Democratic party won a decisive re-election victory, and retained a two thirds majority in the lower-house. This was a snap election called more than a year before it was scheduled to happen. With the Nikkei index recently hitting 21-year highs, at least part of his popularity may be driven by stock market performance.
How the market finished last week, the S&P 500 up 0.3%, the Nasdaq up 0.9%, and the Dow up 0.4%.
This Week: The earnings season is winding down with only 48 companies in the S&P 500 reporting earnings over the next week. The economic news will also be slower with the University of Michigan's Consumer Sentiment report set to be released on Friday.
Key
economic events for this week are relatively thin on the ground, but the
Reserve Bank of Australia (RBA) will be in focus with a rate decision, and then
a monetary policy statement. Investors should also keep an eye out for the
Chinese trade balance and inflation figures.
On
the corporate calendar, full-year numbers from Associated British Foods and
Imperial Brands, and first-half figures from M&S, Burberry and Sainsbury’s,
will be worth watching.
Economic
Calendar: JOLTS (11/7), Consumer Credit (11/7), Wholesale Trade (11/9), Consumer
Sentiment (11/10), Treasury Budget (11/10)
Some of the major earnings announcements on deck: MYL,
PCLN, MAR, DIS, NVDA.
Related Link: http://www.stockmarket-direction.com/
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