Welcome to the trading week of May 23rd! This past week saw the following moves in the S&P: Week ahead will tell whether markets challenge Fed The key to the coming week will be about whether markets can absorb the Fed's rate hike message without getting indigestion. The central bank bombarded markets in the past week with the message that it could raise interest rates for the second time in nine years as early as June, if the economy continues to improve as expected. What was different in its message was the new urgency of the timing, made clear in the minutes from its last meeting and in the comments from Fed officials. So there will be much interest in the handful of central bank speakers in the coming week, with particular focus on Fed Chair Janet Yellen, who will be at Harvard on Friday afternoon. Yellen is receiving the Radcliffe Medal, and she will also be interviewed by economist Greg Mankiw. What to watch: Monday Earnings: Ryanair, Nordson, KLX 6:15 a.m. St. Louis Fed President James Bullard in Beijing 8 a.m. San Francisco Fed President John Williams 6:30 p.m. Philadelphia Fed President Patrick Harker 9:45 a.m. Manufacturing PMI Tuesday Earnings: Best Buy, Toll Brothers, Hewlett Packard Enterprise, Intuit, AutoZone 10 a.m. New home sales 1 p.m. $26 billion two-year note auction Wednesday Earnings: HP, Tiffany, Costco, NetApp, Bank of Montreal, Express, Lions Gate, Guess, Popeye's Louisiana Kitchen 8:30 a.m. International trade 9 a.m. Philadelphia Fed's Harker 9 a.m. FHFA HPI 11:40 a.m. Minneapolis Fed President Neel Kashkari 1 p.m. $34 billion five-year note auction 1:30 a.m. Dallas Fed President Rob Kaplan Thursday Earnings: Canadian Imperial, Royal Bank of Canada, Toronto Dominion Bank, Signet, Abercrombie and Fitch, Seadrill, International Game Technology, GameStop 6:10 a.m. St. Louis Fed's Bullard 8:30 a.m. Initial claims 8:30 a.m. Durable goods 9:45 a.m. Services PMI 10 a.m. Pending home sales 12:15 p.m. Fed Gov. Jerome Powell 1 p.m. $28 billion seven-year note auction Friday 8:30 a.m. am Real GDP Q1 (second) 10 a.m. Consumer sentiment 1:15 p.m. Fed Chair Janet Yellen receives award, in Q&A at Harvard Patti DommCNBC Executive News Editor
Airlines looking rough. As a whole, the JETS ETF could not hold a support trendline and average momentum topped out. Weekly chart ALK is having trouble getting final approval for their acquisition of VA, and lost support trendline If things go bad for airlines, ALGT may take the biggest fall. eg if VA cannot be acquired by ALK, then these little airlines may have a tough time growing. Or just airline weakness in general Weekly chart, showing momentum downtrend. The momentum was already negative:
Well done Vegastrader. I am in agreement with your take on Semi's and the upcoming Computex show could give a added lift into the following week...May 31 - June 4
This weeks stocks to watch >list of stocks on the radar for next week http://ticker.tv/vegastrader66/5741d43df722618a747e7811 Tried to embed it but won't allow it for some reason
Thanks @Vegastrader66 . I like HACK, as a surrogate for PANW earnings this week, and QLYS is running hot (still need to watch your "stocks on the radar" show if you mention that one). And the aerospace sector is going strong right now, thanks for sharing your opinion.
ShadowTrader Video Weekly 05.22.16 - The Song Remains The Same Video from ShadowTrader Peter Reznicek
