The S&P finished higher for the 5th week straight, after another record-setting week of trading.

On Monday, stocks got off to a strong start and ended the day with new record highs.

But things didn’t look too hot on Tuesday. After a gap higher, stocks pulled back to end the day with a small loss.

On Wednesday, stocks pulled back again but eventually finished with a small gain.

And on Thursday, stocks opened higher, rallied to record highs, then finished just below the day’s open.

On Friday, things were a little rocky after tariff concerns. But after trading at session lows, stocks rallied and the major indices finished the week with a new record close.

Here’s what traders are focused on:

  • Trade – Optimism over trade was a big reason for last week’s rally. On Thursday, there were reports out of China claiming that the U.S. agreed to cancel existing tariff increases. But on Friday, President Trump contradicted the reports, saying that he hasn’t agreed to roll back tariffs. Stocks dropped to session lows after news then slowly worked their way back higher throughout the day.
  • Earnings – Earnings season is winding down, but earnings continue to beat expectations. According to FactSet, 452 of the companies in the S&P 500 have reported quarterly earnings. And 74% have beaten expectations.

Here’s where the major indices ended the week:

  • The S&P finished with a 0.9% gain. Up 26 points, the S&P ended at 3,093.
  • The DOW ended higher by 1.2%. Adding 334 points, the DOW closed at 27,681.
  • The NASDAQ was up 1.1%. With an 89 point gain, the NASDAQ finished at 8,475.

Crude Oil (CL) finished the week with its best close since mid-September. Up 1.9%, CL ended at $57.27 a barrel.

Disney (DIS) jumped 3.8% on Friday. The move came after Disney reported better than expected revenue, largely due to the popularity of its remake of The Lion King. 

Monster (MNST) was a winner as well, up 2.7% after better than expected earnings.

But Gap (GPS) lost 7.6% after weaker than expected future guidance and surprise news that its CEO is leaving the company.

This week, we’ll see earnings reports slow down.  A few of the more popular names reporting include Cronos Group (CRON), Tilray (TRLY), Cisco (CSCO), NVIDIA (NVDA) and JC Penney (JCP).

We also have a bank holiday on Monday (Veterans Day). Major exchanges will be open but bond markets will be closed.

Looking at the economic calendar, CPI Data on Tuesday, Fed Chair Powell’s testimony on Wednesday and Thursday, and Retail Sales on Friday are all items to keep an eye on.

Trading Futures, options on futures and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. The lower the day trade margin, the higher the leverage and riskier the trade. Leverage can work for you as well as against you; it magnifies gains as well as losses. Past performance is not necessarily indicative of future results.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Forex Analysis

Editors’ Picks

EUR/USD pressured around 1.13 after jump in US jobs

EUR/USD is trading around 1.13, down after US Non-Farm Payrolls shocked with a leap of 2.5 million jobs in May, contrary to all projections. The greenback is gaining while stocks are falling, a correlation breakdown. ECB stimulus previously supported the euro.


GBP/USD retreats from highs

GBP/USD is trading below 1.27, off the highs. The pound is struggling after Chief EU Negotiator Barnier reported little progress in Brexit talks. Robust US jobs support the dollar.


Gold sees weekly closing below $1700 - a caution for bulls

The steady decline in Gold prices (futures on Comex) accelerated on Friday, as the rates closed the week below the 1700 mark for the first time in three weeks at 1688.35. A weekly closing below the key 1700 level is unlikely to bode well for the bulls.

Gold News

Institutional demand exceeds Bitcoins supply

Greyscale floods the market with fresh money to satisfy the demand of its clients. Investors, willing to pay a 29% surcharge for exposure to Bitcoin without suffering the legal and operational inconveniences. Market remains at risk on the verge of new bullish territory.

Read more

WTI rallies above $39 as focus shifts to OPEC+ meeting

Crude oil prices built on Thursday's modest gains and rose sharply on Friday boosted by the upbeat market mood optimism surrounding Saturday's OPEC+ meeting. 

Oil News

Forex Majors