December 18, 2016 The Week Ahead

The S&P 500 and Nasdaq traded slightly lower on the week. However, the Dow Jones Industrial Average managed to have its sixth straight week of gains. All in all, major indices are all hanging around 52-week highs as we approach the Christmas holiday.

Being that it is Christmas week, one could expect volumes to lighten and volatility to be relatively low. No surprise, with the VIX closing at 12.20 on Friday.

Crude oil futures prices were nearly 1% higher on the week, as they are not to far off 52-week highs. Sentiment has been bullish ever since Non-OPEC and OPEC members agreed to make production costs.

Now, here is how some of the other closely followed ETFs did on the week: United States Oil Fund (USO) +0.96%, iShares 20+ Year Treasury Bond (TLT) -0.31%, SPDR Gold Shares (GLD) -2.13%.

Here are some important events worth watching during the week:

Key Economic Data:
21 Dec 2016- Existing Home Sales 10:30 AM ET, EIA Petroleum Status Report 10:30 AM ET
22 Dec 2016- Durable Goods Orders 8:30 AM ET, GDP 8:30 AM ET, Philly Jobless Claims 8:30 AM ET, Personal Income and Outlays 10:00 AM ET
23 Dec 2016- New Home Sales 10:00 AM ET

Key Earnings:
19 Dec 2016- LEN
20 Dec 2016- BBRY, CCL, DRI, FDS, GIS, KMX,NAV, FDX, NKE, SCS
21 Dec 2016- ACN, FINL, LNN, PAYX, CAMP, BBBY, MU, RHT
22 Dec 2016- CAG

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