Weekly Performance of Major Indexes
- S&P 500 ETF (SPY): Closed at $542.78 on June 14, up from $534.01 on June 7, marking a gain of $8.77 or approximately 1.64%.
- Nasdaq-100 ETF (QQQ): Closed at $479.19 on June 14, up from $462.96 on June 7, marking a gain of $16.23 or approximately 3.51%.
- Russell 2000 ETF (IWM): Closed at $198.73 on June 14, down from $201.20 on June 7, marking a loss of $2.47 or approximately -1.23%.
Upcoming Economic Reports
- Retail Sales MoM: Due out on June 18, 2024, with an estimated change of 0.3%.
- Business Inventories: Scheduled for June 18, 2024, with an estimated change of 0.3%.
- Interest Rate Decision: Expected on June 18, 2024.
- Building Permits: Set for release on June 20, 2024, with an estimated 1.45 million permits.
- Juneteenth Holiday: The stock market will be closed on June 19, 2024, in observance of Juneteenth.
Major Corporate Earnings Announcements
No major earnings events this week.
Market Outlook for the Next 30 Days
Given the recent performance trends and the upcoming economic reports, I am bullish on the market for the next 30 days. The positive momentum in major indexes like the S&P 500 and Nasdaq-100, combined with anticipated economic data releases, suggests a favorable environment for continued growth. Additionally, the expectation of interest rate decisions could provide further clarity and potentially boost market sentiment.