Here's a detailed summary of the US stock market activity for the week ended October 11, 2024:
Market Action For Last Week
- S&P 500 ETF (SPY)
- Closing Price on 10/04/24: $572.98
- Closing Price on 10/11/24: $579.58
- Point Gain/Loss: +$6.60
- Percent Gain/Loss: +1.15%
- Nasdaq-100 ETF (QQQ)
- Closing Price on 10/04/24: $487.32
- Closing Price on 10/11/24: $493.36
- Point Gain/Loss: +$6.04
- Percent Gain/Loss: +1.24%
- Russell 2000 ETF (IWM)
- Closing Price on 10/04/24: $219.15
- Closing Price on 10/11/24: $221.26
- Point Gain/Loss: +$2.11
- Percent Gain/Loss: +0.96%
Upcoming Major Economic Reports and Potential Market Moving Events
- Monday, October 14, 2024
- No major economic reports scheduled.
- Tuesday, October 15, 2024
- Export Prices MoM (Medium Impact)
- Import Prices MoM (Medium Impact)
- Wednesday, October 16, 2024
- Retail Sales MoM (High Impact)
- Thursday, October 17, 2024
- Business Inventories MoM (Medium Impact)
- NAHB Housing Market Index (Medium Impact)
- Friday, October 18, 2024
- No major economic reports scheduled.
Upcoming Major Stock Earnings Reports
- Monday, October 14, 2024
- No major earnings reports scheduled.
- Tuesday, October 15, 2024
- UnitedHealth Group (UNH) - Before Market Open
- Johnson & Johnson (JNJ) - Before Market Open
- Bank of America (BAC) - Before Market Open
- Wednesday, October 16, 2024
- Abbott Laboratories (ABT) - Before Market Open
- Morgan Stanley (MS) - After Market Close
- Thursday, October 17, 2024
- Netflix (NFLX) - After Market Close
- Blackstone (BX) - Before Market Open
- Intuitive Surgical (ISRG) - After Market Close
- Friday, October 18, 2024
- Procter & Gamble (PG) - Before Market Open
- American Express (AXP) - After Market Close
Market Outlook
For the next 30 days, I am bullish on the market. The anticipated interest rate cuts by the Federal Reserve, along with stable corporate profits and a cooling inflation rate, are likely to support economic growth and consumer spending. Additionally, the upcoming earnings reports from major companies could provide further positive momentum if they meet or exceed expectations.