Stocks ended mixed last week as investors digested a slew of data. First, global central banks sent mixed messages as the U.S. Fed was perceived to be slightly hawkish while Japan’s Central Bank was overtly dovish. Earnings were less than thrilling as most of the stocks that reported last week fell in heavy volume. Additionally, geopolitical tensions remained escalated as the rhetoric continued between North Korea and D.C. The German election is scheduled for Sunday and next week will be important as investors will be looking for: GDP, Durable Goods, Consumer Sentiment and some Housing data. Technically, the Nasdaq 100 is trading near its 50 day moving average while the Dow, S&P 500 and Russell 2000 are above that important level of support.
Thur & Fri Action:
Stocks fell on Thursday, led lower by the tech-heavy Nasdaq 100. The Nasdaq 100 fell to its 50 DMA line which is a logical area of support. Leading indicators grew by +0.4%, beating estimates for a gain of +0.2%. Stocks were quiet on Friday as tensions remained high between N. Korea and the D.C. Separately, the new iPhone went on sale today but Apple’s stock remained under pressure. Going into the weekend, the market will be watching the German election and will be watching to see if North Korea will fire another missile.
Market Outlook: Bulls Are Back In Control
The bulls are back in control and the market remains very strong. As always, keep your losses small and never argue with the tape. Get Our Free e-Book: Learn How To Buy Leading Stocks…EARLY. Get It Here…