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

Latest Forex Analysis

Editors’ Picks

GBP/USD soars past 1.2900 as Farage gives additional boost to Conservatives

GBP/USD has leaped above 1.29, the highest since early November, as the Brexit Party has failed to field candidates in 43 additional seats, facilitating a victory for PM Boris Johnson.

GBP/USD News

EUR/USD advances 1.10 amid upbeat trade headlines, after mixed US retail sales

EUR/USD is trading closer to 1.1050, up on the day. US Commerce Secretary Ross has expressed optimism about reaching a deal with China. The Retail Sales Control Group met expectations with 0.3%.

EUR/USD News

USD/JPY clings to gains near session tops, around 108.70 post-US data

The USD/JPY pair maintained its strong bid tone near session tops and had a rather muted reaction to the mixed US economic data.

USD/JPY News

US Dollar Index challenges weekly lows near 98.00

The US Dollar Index (DXY), which gauges the buck vs. a bundle of its main rivals, is now accelerating the downside and threatens to test the key support at 98.00 the figure.

US Dollar Index News

Trump Impeachment: Markets will not like any replacement

The public phase of the impeachment hearings against President Donald Trump has kicked off, with the US public and parties divided more than ever. How does it affect markets?

Read more

Forex Majors

Cryptocurrencies

Signatures