A strong week in the equity markets as US stocks hit all-time highs on many indices across the board. A pivotal news event this week was Trump’s impeachment which did not bring much volatility to the market as it was expected but could not remove him from Office. Making him the 3rd US president to get impeached. From there equities moved quietly throughout the week until the latter half where all-time highs were hit two days in a row.
Some economic data came out this week but nothing to alter the markets to a large extent. Quadwitch Friday was upon traders at the end of the week as both Options and Futures contracts for the quarter expired. GDP expanded by 2.1% during the third quarter of the year. This kept in line with expectations. The week was slow and the week to come even slower. Keep an eye out on this and don’t get into dangerous situations as the year-end is near.
Here is a look at last week’s stock market on a daily basis (red vertical lines split days).
Stock Market and Sector Overview
Here is a break down of the weekly performance in various stock market sectors (top chart):
- Energy +0.61%
- Technology +0.60%
- Financials -1.05%
- Retail +1.57%
- Utilities +1.56%
Overview of key markets last week (bottom chart):
- Crude Oil +0.82%
- S&P500 +1.51%
- Silver +1.47%
- Gold +0.22%
- US dollar +0.55%
Weekly Economic Calendar.
It’s holiday season and it’s Christmas this week so there is very limited high impact news, market will be closed for a majority of the week. There are two high impact events all week and they are not out of the US. The markets will be slow if not closed.
Monday, GDP data out of Canada.
Tuesday, no high impact news.
Wednesday, no high impact news.
Thursday, BOJ Kuroda speaks out of Japan.
Friday, no high impact news.
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