Market Roller Coaster In Reaction To Greek Crisis And Chinese Turbulence
Double Dividend Stocks | Jul 12, 2015 02:19AM ET
Markets: It was a bit of a roller coaster ride this week, with indexes rocking back and forth, in reaction to the Greek debt crisis, and Chinese market turbulence.
Volatility: After rising above 20 earlier in the week, for the 1st time since February 2nd, the VX was flat, finishing the week at 16.83, vs. last week’s 16.79 close.
Currency: The US dollar rose vs. most major currencies this week.
Market Breadth: 18 DOW stocks rose this week, vs. 6 last week. 52% of all S&P 500 stocks rose this week, vs. 26% last week.
US Economic News: Unemployment Claims rose, partially due to seasonal retooling by auto mfg. firms. Wholesale Inventories jumped unexpectedly.
Week Ahead Highlights: Markets will be reacting to the Eurozone’s decision on Sunday as to Greece’s fate. Federal Reserve Chair Janet Yellen is slated to give her semiannual testimony to Congress on Wednesday and Thursday. 6 out of 30 DOW stocks will report earnings, including bellwether NYSE:GE, while 40 S&P 500 stocks will report. There will be more Housing data reports late in the week, including Building Permits and Housing Starts.
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Next Week’s US Economic Reports:
Sectors and Futures:
Consumer Staples led this week, while Telecoms and Basic Materials trailed.
Corn futures led this, while crude oil futures lagged.
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