The Week Ahead Gets Interesting With Today's Drop
The Dow Jones Industrial Average, S&P 100, NASDAQ 100 and Russell 2000 were lower on a weekly basis for the first time this year. The Big Picture [monthly bias] for the NASDAQ 100, the Dow Jones Industrial Average, Russell 2000 and the S&P 100 remain positive.
1.Geopolitical and Fiscal Events. Monday sees Secretary of State Tillerson visit Latin America. Tuesday sees SEC Chairman Clayton testify. Wednesday sees Vice President Pence visit Japan. Also, on Wednesday Federal Reserve New York President William Dudley is on a panel and separately Federal Reserve Chicago Charles Evan speaks as well. Thursday sees the BOE out with its latest announcement. Also, on Thursday Federal Reserve Philadelphia President Patrick Harker speaks in New York City and Minneapolis President Neel Kashkari speaks in Minnesota as does Federal Reserve Kansas City President Esther George.
2.Economic Releases. Releases of note this week and next include the weekly chain store sales, oil/gas numbers, mortgage applications and jobless claims.
3.Earnings Releases. Notable releases next week include BMY SYY DIS BP SNY UBS PM NVDA PCG CBOE.
Monday, February 5
Secretary of State Rex Tillerson visits Latin America and is in Peru Monday.
Tuesday, February 6
Securities Exchange Commission (SEC) Chairman Jay Clayton testifies before the Senate on virtual currencies.
Wednesday, February 7
Vice President Mike Pence is in Japan.
Thursday, February 8
The Bank of England (BOE) is out with its latest announcement before the open.
Friday, February 9
The Winter Olympics opening ceremonies take place in South Korea.
The latest NYSE and NASDAQ Short Interest Data is due out after the close through settlement of January 31st and trade date of January 29th close.