Market Direction Week of April 23, 2018©

Market Direction:BULLISH alert issued 2/15/2018

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. 

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Last Week Review: Roughly 10% of the S&P 500 companies have released their Q1 earnings reports so far and although it’s early, 79% have beat analyst’s EPS estimates while 83% have beat on the top line.

U.S. stocks edged higher on the week, adding on to the previous week's 2% rally, leaving the S&P 500 flat year-to-date. Stronger-than-expected earnings growth of 18% for the S&P 500 have helped stocks move higher, but potential causes of volatility, including additional tariff proposals and rising interest rates, continue to be headline risks.

U.S. equity markets are modestly lower early Friday morning but are up roughly 1% on the week. Easing concerns around geopolitical risks and relatively benign earnings appear to be the drivers for this week’s overall bullish bias. However, stocks encountered some late-week selling pressure as investors turned their focus to rising treasury yields, which continue to be in the spotlight this morning. On Friday, the 10-year yield was up 0.24% to 2.938% which is just below the four-year closing high of 2.943% that was hit back on February 21st.

How the market finished last week, the S&P 500 up 0.5%, the Nasdaq up 0.6%, and the Dow up 0.4%.

This Week: Q1 earnings are off to a good start but markets appear to be taking their cue from treasury yields. Traders might want to wait and see how markets react if and when the 10-year breaks out above the 2.94% level. Keep in mind Washington and geopolitical news is always a concern for the stock market.

This week is one of those weeks when both the economic and corporate calendars are nearly full to bursting. We have purchasing managers indexes (PMIs) from the eurozone and the US, plus a European Central Bank (ECB) meeting, preliminary gross domestic product (GDP) reports from the UK and US, as well as US durable goods and a Bank of Japan (BoJ) meeting. Each day has plenty to keep markets busy.

This is without taking into account the swathe of earnings from the UK, Europe and the US. Tech takes the spotlight in the US, with Alphabet, Twitter and Amazon. In the UK we have bank trading updates, and a full-year statement from Whitbread.

Economic Calendar: PMI Composite Flash (4/23), Consumer Confidence (4/24), Durable Goods (4/26), International Trade in Goods (4/26), GDP (4/27)

Some of the major earnings announcements on deck: INTC, BA, CAT, VZ, HAL, PYPL.

$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, email us. Share with a friend. Cha-ching.

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