Market Action For Last Week
S&P 500 ETF (SPY)
- August 9, 2024 Closing Price: $532.99
- August 16, 2024 Closing Price: $554.31
- Point Gain/Loss: +$21.32
- Percent Gain/Loss: +4.00%
Nasdaq-100 ETF (QQQ)
- August 9, 2024 Closing Price: $450.41
- August 16, 2024 Closing Price: $475.03
- Point Gain/Loss: +$24.62
- Percent Gain/Loss: +5.47%
Russell 2000 ETF (IWM)
- August 9, 2024 Closing Price: $206.46
- August 16, 2024 Closing Price: $212.60
- Point Gain/Loss: +$6.14
- Percent Gain/Loss: +2.97%
Upcoming Major Economic Reports and Potential Market Moving Events
Monday, August 19, 2024
- No major economic reports scheduled.
Tuesday, August 20, 2024
- No major economic reports scheduled.
Wednesday, August 21, 2024
- Interest Rate Decision: 6:00 PM ET
Thursday, August 22, 2024
- No major economic reports scheduled.
Friday, August 23, 2024
- No major economic reports scheduled.
Upcoming Major Stock Earnings Reports
Monday, August 19, 2024
- McDonald's (MCD): Premarket
- ON Semiconductor (ON): Premarket
- SBA Communications (SBAC): Premarket
Tuesday, August 20, 2024
- F5 (FFIV): Premarket
- Equity Residential (EQR): Premarket
- Hologic (HOLX): Premarket
- Sanmina (SANM): Premarket
- Sensata Technologies (ST): Premarket
- Sprouts Farmers Market (SFM): Premarket
Wednesday, August 21, 2024
- No major earnings reports scheduled.
Thursday, August 22, 2024
- Apple (AAPL): Postmarket
Friday, August 23, 2024
- No major earnings reports scheduled.
Market Outlook for the Next 30 Days
I am bullish on the market for the next 30 days. The positive sentiment is driven by moderating inflation, strong earnings growth, and resilient economic growth. The upcoming Federal Reserve meeting in September, where potential rate cuts are anticipated, could further boost market sentiment. Additionally, the recent performance of major ETFs like SPY, QQQ, and IWM indicates a strong upward trend.