Market Action For Last Week
Here's a summary of the closing prices for the major ETFs from July 12th to July 19th, 2024:
- S&P 500 ETF (SPY):
- Closing Price on July 12th: $559.99
- Closing Price on July 19th: $548.99
- Point Change: -11.00
- Percent Change: -1.96%
- Nasdaq-100 ETF (QQQ):
- Closing Price on July 12th: $494.82
- Closing Price on July 19th: $475.24
- Point Change: -19.58
- Percent Change: -3.96%
- Russell 2000 ETF (IWM):
- Closing Price on July 12th: $213.14
- Closing Price on July 19th: $216.84
- Point Change: +3.70
- Percent Change: +1.74%
Upcoming Major Economic Reports and Potential Market Moving Events
Here are the key economic reports and potential market-moving events for the upcoming week:
- Tuesday, July 24, 2024:
- New Home Sales at 2:00 PM ET
- New Home Sales MoM at 2:00 PM ET
- Wednesday, July 25, 2024:
- Durable Goods Orders at 12:30 PM ET
- GDP Growth Rate at 12:30 PM ET
- Thursday, July 26, 2024:
- Personal Income at 12:30 PM ET
- Personal Spending at 12:30 PM ET
- Core PCE Price Index MoM at 12:30 PM ET
- Monday, July 30, 2024:
- Job Offers at 2:00 PM ET
- Tuesday, July 31, 2024:
- Interest Rate Decision at 6:00 PM ET
Upcoming Major Stock Earnings Reports
Here are the major companies expected to report earnings in the coming week:
- Monday, July 22, 2024:
- Verizon Communications Inc. (VZ) - Pre-market
- First Republic Bank (FRC) - Pre-market
- IQVIA Holdings Inc. (IQV) - Pre-market
- Ryanair Holdings plc (RYAAY) - Pre-market
- Booz Allen Hamilton Holding Corporation (BAH) - Pre-market
- DXC Technology Company (DXC) - Pre-market
- Hartford Financial Services Group, Inc. (HBT) - Pre-market
- Tuesday, July 23, 2024
- Bank of America Corp (BAC)
- Wednesday, July 24, 2024
- Abbott Laboratories (ABT)
- Berkshire Hills Bancorp (BHLB)
- Cintas (CTAS)
- Commerce Bancshares (CBSH)
- D.R. Horton (DHI)
- Domino's Pizza (DPZ)
- Hexcel (HXL)
- Insteel Industries (IIIN)
- KeyCorp (KEY)
- M&T Bank (MTB)
- Manpower (MAN)
- Marsh & McLennan Companies (MMC)
- OFG Bancorp (OFG)
- Snap-On (SNA)
- Texas Capital (TCBI)
- Textron (TXT)
- Virtu Financial (VIRT)
- WNS (WNS)
- Thursday, July 25, 2024
- American Express (AXP)
- Autoliv (ALV)
- Badger Meter (BMI)
- Comerica (CMA)
- Fifth Third Bancorp (FITB)
- Halliburton (HAL)
- Huntington Bancshares (HBAN)
- Regions Financial (RF)
- SLB (SLB)
- Travelers Companies (TRV)
- Friday, July 26, 2024
- J.B. Hunt Transport (JBHT)
- Omnicom (OMC)
- Pinnacle Financial Partners (PNFP)
Market Outlook for the Next 30 Days
Given the upcoming economic reports and the current market conditions, I am bullish on the market for the next 30 days. The expected positive data from GDP growth and durable goods orders, combined with a strong labor market, suggest that the economy remains resilient. Additionally, the upcoming earnings reports could provide further momentum if companies report favorable results.