Craig Johnson’s

Stock Market Summary

Monday, November 6, 2017

  • The parade of earnings reports continued making last week the second busiest week for earnings releases during the current earnings season.
  • Last week’s gains for the major market indices extended the streak of consecutive weekly gains to eight for the S&P 500 and the Dow Jones Industrial Average. The Nasdaq Composite extended its streak to six weeks, while the Russell 2000 remained in its current sideways consolidation for the fourth week.
  • The number of earnings reports this week will remain substantial with more of the reports coming from the mid and smaller capitalization universe.
  • The energy sector was the best performing sector enjoying a strong week on higher oil prices. REITs and Technology were also solid sector performers, each gaining more than 1% for the week.
  • No sector had a bad week, but the Basic Materials, Consumer Discretionary, Healthcare and Industrials were mildly lower.
  • The stock market remains in a strong state. A pullback of 3-5% from intraday high to intraday low can occur at any time, which would be a normal occurrence in a bull market.
  • The short, intermediate and long term trends are higher for the stock market. 

 


Sources: bankrate.com, bloomberg.com, briefing.com, Dow Jones News, Financial Times, finviz.com, Investor's Business Daily, marketwatch.com, seekingalpha.com, Thomson Reuters/First Call, U.S. Dept of Treasury, yahoo.com and individual company web sites and press releases.

Leonetti & Associates, LLC views or opinions are as of a certain date and subject to change without notice.  The material contained herein is for informational purposes only and obtained from sources we consider reliable. We make no guarantee as to its accuracy or completeness.  References to specific securities and industries/sectors should not be considered recommendations to buy or sell any security or advisory service.  Past performance is not a guarantee of future results.

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