The markets started on a down beat last week, slipping below 2070. As discussed in last week's Market Forecast, there was support below 2070. Buyers started to trickle in on Tuesday, and got bolder on Wednesday as the Fed kept interest rates unchanged. On Friday morning, SPX climbed above 2114, then, we saw some profit-taking ahead of the weekend.
For the week, the Dow was up +121.93 points; SPX added +24.28 points; Nasdaq gained +39.65 points. Oil was up most of the week, but, gave the gains back on Friday. WTI closed around $47/barrel. Gold fell slightly, trading just below $1100/ounce. At the time of this writing, Asian markets were mostly down. Let's take a look at the US markets after Friday's close:
SPX slipped 4.79 points to close at 2103.84. It closed just above its daily MAs. The MACD was little changed.
Nasdaq fell just 1/2 a point to close at 5128.28. It closed just below the 10-day MA> The MACD was flat.
Both SPX and Nasdaq closed near their respective 10-day MA, a neutral stance. For the new week, stocks may be under pressure to start as China's latest economic data soured the global markets' mood. However, Japan's Nikkei was holding up quite well, as I was composing this paragraph.
Although more earnings are coming in, people might be distracted by the jobs data coming near the end of the week. Nevertheless, here are some notable earnings dates:
MON: (AM) DO; (PM) AIG CTRP, QLYS, BMRN, THC
TUE: (AM) MGM, CVS, AET, INCY, REGN, CHTR, MLM; (PM) DIS, Z, FSLR, DVN, PAYC, ETSY, ATVI
WED: (AM) PCLN, CTSH, RL, ATHM; (PM) TSLA, GMCR, RIG, HLF, AGU, ZU, TSO
THUR: (AM) MBLY, KORS, DDD, TDC, APA, AGN; (PM) ANET, BITA, ESPR, MDVN
FRI: (AM) GRPN, ...