Market Ended Up Flat For The Week
Double Dividend Stocks | Feb 05, 2017 04:34AM ET
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Markets: The market ended up flat for the week, averting a loss with Friday’s big rally, which saw the DOW up .94%, the S&P up .73%, and the NASDAQ up .54%, after the upbeat Payrolls report, surprised investors. Bank stocks rallied Friday, on news that Dodd-Frank regulations may be lifted. Will this mean the return of such abuses as “liar loans”? Stay tuned…
Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: AHGP (NASDAQ:AHGP), APU (NYSE:APU), NAP (NYSE:NAP), NAT (NYSE:NAT), CORR (NYSE:CORR).
Volatility: The VIX rose 3.7% this week, finishing at $10.97, still at a very low point.
Currency: The dollar pulled back vs. most major currencies, and gained vs. the pound:
Market Breadth: 14 of the DOW 30 stocks rose this week, vs. 18 last week. 58% of the S&P 500 rose, vs. 63% last week.
US Economic News: Non-Farm Payrolls were robust, much higher than expected – best since Sept. Unemployment Rate inched up to 4.8%. The Fed kept its rate steady. Pending Home Sales strong, up 1.6%, Consumer Confidence very high, at 111.8.
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Week Ahead Highlights: Earnings season rolls on. With earnings in from more than half the S&P 500 companies, year-over-year profit growth for the fourth quarter is now estimated at 8.0 percent, up from 6.1% forecast at the start of January, and on track to be the strongest since the third quarter of 2014, according to Thomson Reuters data. Analysts expect first-quarter earnings to rise 11.5%.
Friday is the deadline when a Federal judge is expected to rule on a lawsuit seeking to stop the implementation of the fiduciary rule.
Sectors & Futures: It was a defensive week, with Healthcare, Staples, and Utilities leading, as Telecoms and Industrials trailed.
Lumber futures led this week, while natural gas trailed, in the wake of unseasonably warm US temperatures:
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