Market Action For Last Week
Here's a comparison of the closing prices for the major ETFs from Friday, July 7, 2024, to Friday, July 12, 2024:
- S&P 500 ETF (SPY):
- Closing Price on July 7: $555.28
- Closing Price on July 12: $559.99
- Point Gain/Loss: +4.71
- Percent Gain/Loss: +0.85%
- Nasdaq-100 ETF (QQQ):
- Closing Price on July 7: $497.34
- Closing Price on July 12: $494.82
- Point Gain/Loss: -2.52
- Percent Gain/Loss: -0.51%
- Russell 2000 ETF (IWM):
- Closing Price on July 7: $202.28
- Closing Price on July 12: $213.14
- Point Gain/Loss: +10.86
- Percent Gain/Loss: +5.37%
Upcoming Major Economic Reports and Potential Market Moving Events
Here are the key economic reports and potential market-moving events for the upcoming week:
- Monday, July 15:
- Empire State Manufacturing Survey at 08:30 ET
- Tuesday, July 16:
- Retail Sales at 08:30 ET
- Wednesday, July 17:
- No major reports scheduled.
- Thursday, July 18:
- No major reports scheduled.
- Friday, July 19:
- No major reports scheduled.
Upcoming Major Stock Earnings Reports
This will be a very busy earnings week and it is probably best to use a source like: https://www.investing.com/earnings-calendar/ as opposed to me trying to post them all here.
Market Outlook
Given the current economic indicators and upcoming events, I am bullish on the market for the next 30 days. The positive closing trends in major ETFs, coupled with upcoming economic reports that could provide further clarity on the economic direction, support a favorable outlook. Additionally, the expected interest rate decisions and GDP growth data will be crucial in shaping market sentiment.