Market Momentum: Indexes Near 6-Week Streak Amid Earnings & Economic Data Flurry

Market Performance

• Mixed results yesterday: Dow, Nasdaq, and S&P 400 up; S&P 500 and Russell 2000 down

• Major indexes on track for 6th consecutive positive week (Russell 2000: 2nd week up, 4 out of 6 weeks positive)

Earnings Highlights

• Taiwan Semiconductor: EPS +54.2% YoY, sales +39% YoY, stock up 9.79%

• Blackstone Group: EPS +7.45% YoY, sales +4.74% YoY, stock up 6.27%

• Netflix: EPS +44.8% YoY, sales +15% YoY, raised Q2 outlook, after-hours trading up 4.77%

• 23 companies reporting today, including Proctor & Gamble, Schlumberge, American Express

• Next week: 744 companies reporting, including Tesla, Amazon, IBM

Economic Indicators

• Weekly Jobless Claims: 241,000 (-19,000)

• Retail Sales: +0.4% m/m

• Philadelphia Fed Manufacturing Index: 10.3

• Industrial Production: -0.3% m/m

• Business Inventories: +0.3% m/m

• Housing Market Index: 43

Upcoming Events

• Housing Starts and Permits report

• Fed speakers: Raphael Bostic, Neel Kashkari, Christopher Waller 

Disclaimer: This newsletter is for informational purposes only and should not be considered financial advice. Please consult with a financial advisor before making any investment decisions.