It was a solid week in the markets this week with the S+P gaining almost a percent and a quarter. The Dow Jones gained just under three quarters of a percent and the 10 year treasury note fell in price to a yield of 1.8%.
Interestingly enough, many of the economic indicators that came out this week missed estimates, with home sales, durable goods orders, core capex orders, and the consumer sentiment index all coming in below expectations. That didn’t seem to upset the market though, since earnings results were very positive across the board with a few exceptions like Boeing and Amazon. The guidance Amazon put out pointed to a slower than expected holiday shopping season which upset investors.
Next week we are looking forward to the Case-Shiller home price change, pending home sales, Q3 GDP and a slew of other data on the economic front. Additionally it’s a huge week for earnings with roughly 1,000 companies reporting.
~ Alex
