As the markets came to a close this past Friday, many traders were shocked to see that the run of good luck they had been taking advantage of in the days prior had come to an end. By the end of the trading day, the DOW, NASDAQ and S&P were all in the red, proving once again that a good thing does not last forever.
As we enter into yet another trading week, many traders continue to have their fingers crossed that the coming days will provide the much-needed boost they and their investments will need to help dig them out of the financial hole they currently find themselves in.
With that in mind, let’s look at the days ahead and see if there are any tell-tale signs that might lead us to believe the markets could turn around…
Heading Into the Week…
Retail will take center stage at the beginning of the week as online giant, Amazon begins their “Amazon Prime Days” on Monday and many of its largest competitors – including the likes of Target, Walmart, Best Buy, Kohl’s and others – are planning to introduce their own promotional deals to compete with Amazon’s popular two-day event.
In Washington, FED Chair Jerome Powell makes his way into the spotlight once again as he’s expected to testify during an upcoming House hearing. Powell took a lot of heat last week after his comments on the FED’s plans in regard to raising interest rates and their rushed timetable for such a move. (Read more on that topic by CLICKING HERE…)
All Eyes Turn to the Real Estate Market
Anyone that’s been watching the real estate market over the past several months should be well aware that we currently find ourselves in a seller’s market. Housing costs (both new builds and pre-owned) are skyrocketing as data shows there’s currently more buyers than houses available for purchase. Adding to that data, Wednesday will see the release of more housing data for investors to mull over including new home sales, mortgage applications and building permits.
Thursday companies including FedEx, Nike, Rite Aid, BlackBerry and Olive Garden parent company Darden Restaurants will release their earnings reports. Interested investors will also be able to review data on corporate profits, durable goods, GDP final revisions and weekly initial and continuing jobless claims.
Big Changes Coming for Meme Stocks
Closing out the week, Wall Street will be focusing on Meme stocks as the FTSE Russell is expected to publish the final lists of its annual rebalancing which will impact the likes of the Russell 1000, the Russell 2000, the Russell microcap index and several others.
According to FTSE Russell director of product management Catherine Yoshimoto, In order to move into the Russell 1000 index, an existing Russell 2000 member would need to have had a market cap exceeding $7.3 billion that day. Recent market sensation GameStop would qualify for the list, as an example, with a $11.97 billion market cap on the ranking day, while AMC Entertainment Holdings would fall short with just $4.28 billion, as reported by FOX News.
Learn More Here…
With a week ahead as busy as the one just described, there’s no doubt that the markets will be impacted but will these upcoming events be enough to help pull last week’s losers back to the winner’s circle? We will all know soon enough…
If you’d like to work to get a head start on making sure you’re on top of this week’s markets before they happen to turn for the worse, than we invite you to join DTI founder and head trader, Tom Busby below as he dives into his plans for his – and your – investments during the days ahead.
P.S. – Join market pro Jack Carter’s most recent FREE WORKSHOP to discover how this former hedge fund manager is able to harness an incredible market force to consistently pick high-probability stocks every week!