Stock Market Watch For the Week of March 11th

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Stocks have hit a cold streak, after soaring for two straight months. That said, they ended the week on a 5-day losing skid.

The catalyst?

Well, it’s hard to say precisely, but here are what some traders believe it is:

  • Profit taking- this has been the best two months start for the S&P 500 since 1991
  • Weak economic data- poor job numbers
  • Weakness in China- poor export numbers
  • Weakness in Europe- ECB lowered growth outlooks
  • Unresolved trade negotiations between the U.S. and China
  • Brexit fears
  • S&P 500 hit key resistance (2800 level)

Are the markets cooling off or is the beginning of a new trend?

We’ll have to continue to monitor the situation, but it doesn’t appear that traders are panicking yet. Furthermore, the VIX, also known as the market’s fear index spiked during the week, as it typically rises when stocks sell-off. On Friday, it closed at 16.05.

graph

Source: Yahoo

Here are how some of the most actively traded index ETFs performing over the week: SPDR S&P 500 ETF (SPY) -2.13%; iShares Russell 2000 ETF (IWM) -4.17%; SPDR Dow Jones Industrial Average ETF (DIA) -2.19%; Invesco QQQ Trust (QQQ) -1.85%

Here are how some of the most actively traded commodity and interest rate ETFs performed: United States Oil Fund (USO) +0.60%; iShares 20+ Year Treasury Bond (TLT) +2.45%; SPDR Gold Shares (GLD) +0.79%

Economic Releases:
11 Mar 2019- Retail Sales 8:30 AM ET

12 Mar 2019- CPI 8:30 AM ET

13 Mar 2019- Durable Goods Orders 8:30 AM ET; PPI-FD 8:30 AM ET; EIA Petroleum Status Report 10:30 AM ET

14 Mar 2019- Jobless Claims 8:30 AM ET; New Home Sales 10:00 AM ET

15 Mar 2019- Industrial Production 9:15 AM ET

Key Earnings:
11 Mar 2019- ADT, COUP, SFIX

12 Mar 2019- PETX, CLNE, NTRA, PEIX, NOG, BLCM

13 Mar 2019- TRVN, SMTC, MDB, AXAS, VRA

14 Mar 2019- DG, ULTA, XONE, ADBE, AVGO, JBL, ORCL, ZUMZ, PVTL

15 Mar 2019- BKE

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