Up Week For The Market
Double Dividend Stocks | Apr 17, 2016 01:38AM ET
Markets: It was an up week for the market, as ongoing hopes for an oil production freeze, and better economic results from China served to give investors renewed confidence.
Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Comtech Telecommunications Corp (NASDAQ:CMTL), Horizon Technology Finance (NASDAQ:HRZN), Harvest Capital Credit Corporation (NASDAQ:HCAP), LTC Properties Inc (NYSE:LTC), Main Street Capital Corporation (NYSE:MAIN), Pembina Pipeline Corp (NYSE:PBA)
Volatility: The VIX fell 11% this week, finishing at $13.62.
Currency: The US dollar rose vs. the yen, euro and Swiss franc, and fell vs. the Aussie and NZ dollars, the loonie, and the pound, helping Basic Materials rise this week.
Market Breadth: 24 of the DOW 30 stocks rose this week, vs. 9 last week. 75% of the S&P 500 rose this week, vs. 26% last week.
US Economic News: New Unemployment Claims fell more than expected, along with Consumer Sentiment, while Retail Sales disappointed – Auto sales dropped 2.1%, the biggest drop since Feb. 2015.
Week Ahead Highlights: All eyes are on the Sunday, 4/17/16 “Oil Freeze” meeting in Doha. Will the Iranians agree to a freeze, will they even show up, to duke it out with arch rival Saudi Arabia? This economic soap opera will certainly affect the market somehow next week. Maybe we’ll start seeing oil minister action figures on the market soon… Earnings season heats up, with over 100 S&P firms reporting, and half of the DOW 30 reporting. Notable reporting companies include Morgan Stanley (NYSE:MS), PepsiCo (NYSE:PEP), Hasbro (NASDAQ:HAS), IBM (NYSE:IBM), Alphabet (NASDAQ:GOOGL), and Netflix (NASDAQ:NFLX). Reuters reports that, “analysts’ negative revisions in estimates may be bottoming out. Estimates for the first quarter dropped by 3.1 percentage points from the beginning of December to mid-January, but estimates for the second quarter fell just 0.9 points from March 1 to now, Thomson Reuters data shows.
Get The News You Want
Next Week’s US Economic Reports:
Sectors and Futures:
Financials and Basic Materials led this week, as Consumer Staples trailed.
Soybean meal led this week, with natural gas trailing:
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.