Market Action For Last Week
S&P 500 ETF (SPY):
- Closing Price on 11/01/24: $571.04
- Closing Price on 11/08/24: $598.19
- Point Gain: +27.15
- Percent Gain: +4.75%
Nasdaq-100 ETF (QQQ):
- Closing Price on 11/01/24: $487.43
- Closing Price on 11/08/24: $514.14
- Point Gain: +26.71
- Percent Gain: +5.48%
Russell 2000 ETF (IWM):
- Closing Price on 11/01/24: $218.98
- Closing Price on 11/08/24: $238.12
- Point Gain: +19.14
- Percent Gain: +8.74%
Upcoming Major Economic Reports and Potential Market Moving Events
Monday, November 11, 2024:
- No major economic reports scheduled.
Tuesday, November 12, 2024:
- No major economic reports scheduled.
Wednesday, November 13, 2024:
- Core Inflation Rate MoM: Expected 0.3%
- Core Inflation Rate YoY: Expected 3.3%
- Inflation Rate MoM: Expected 0.2%
- Inflation Rate YoY: Expected 2.6%
Thursday, November 14, 2024:
- Core PPI MoM: Expected 0.3%
- Initial Jobless Claims: Expected 222,000
- PPI MoM: Expected 0.2%
- Fed Chair Powell Speech
Friday, November 15, 2024:
- Retail Sales MoM: Expected 0.3%
- Retail Sales Ex Autos MoM: Expected 0.3%
- NY Empire State Manufacturing Index: Expected -1.1
Upcoming Major Stock Earnings Reports
Monday, November 11, 2024:
- No major earnings reports scheduled.
Tuesday, November 12, 2024:
- Home Depot (HD): Before Market Open
- Shopify (SHOP): Before Market Open
- Sea Limited (SE): Before Market Open
- Spotify (SPOT): After Market Close
Wednesday, November 13, 2024:
- Cisco Systems (CSCO): After Market Close
- Nu Holdings (NU): After Market Close
Thursday, November 14, 2024:
- Walt Disney (DIS): Before Market Open
- Applied Materials (AMAT): After Market Close
- Brookfield (BN): Before Market Open
Friday, November 15, 2024:
- Alibaba (BABA): Before Market Open
Market Outlook
For the next 30 days, I am cautiously bullish on the market. The recent rally in major indices, driven by strong earnings reports and positive economic indicators, suggests continued investor confidence. However, upcoming inflation data and Federal Reserve actions could introduce volatility. Monitoring these developments will be crucial for maintaining a bullish stance.