Daily Market Update
with JJ Kinahan

5 min read

Earnings, Overseas Rallies Top Menu, With Volatility A Possible Weekly Special

(Monday Market Open) After a week that went all over the place and ended up going nowhere, Monday starts with a muted tone as a host of earnings reports awaits. It’s one of the busiest earnings weeks of the season, and info tech might hog the spotlight.

Last week’s market action, and Friday’s in particular, gave both bulls and bears some fodder. The S&P 500 (SPX) had some dramatic ups and downs, but finished the week almost exactly where it started at 2767, which just happens to be one point below its 200-day moving average and even with its year-to-date average. This level could hold some technical significance moving forward, perhaps forming a key support point. 

Volatility, meanwhile, remains elevated. The VIX began the week near 19, up from September lows below 12 and perhaps signaling more possible turbulence ahead.

Stocks moved slightly higher in pre-market trading Monday, apparently getting a boost from the second-straight day of big gains  in China after the government there took measures to support the market and started talking over the weekend about a possible tax cut, according to media reports. The Shanghai Composite rose 4% Monday. S

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Daily Market Update

Previous Daily Market Update articles

Greener Pastures: Pendulum Might Swing Into Positive Territory —For Now October 19, 2018 9:20 AM   |  

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