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Weekly Market Recap & Outlook

Last week was quite a volatile one in stocks, with the bulls finally enjoying the limelight till the closing bell on Friday – thanks to AAPL and Kashkari, of course. Does it mean the tide has turned, and this is the end of the verbal tightening, otherwise known as jawboning? I doubt that tightening is over, and will devote more than a few thoughts to this topic in tomorrow’s extensive analysis.

While volatility is going to die down, the chop in stocks – albeit with a bullish bias – is likely to continue. Monday’s ISM Manufacturing PMIs aren’t likely to rock the boat much – that would start as we move towards the latter half of the week with Thursday’s ISM Services PMIs and Friday’s non-farm payrolls especially. How would the market take to signs of slowing GDP growth?

Thinking of high oil prices, wage pressures and inflation remaining hot and more persistent than appreciated by the mainstream, the precious metals decline would turn out as mere blip on the screen. Copper is the key outlier of the week just gone by, and its reversal higher to bring it more in tune with other base metals and commodities in general, would be a most welcome sight.

Stay tuned for Monday’s extensive analysis, and have a nice rest of the weekend.

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Monica Kingsley
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All essays, research and information represent analyses and opinions of Monica Kingsley that are based on available and latest data. Despite careful research and best efforts, it may prove wrong and be subject to change with or without notice. Monica Kingsley does not guarantee the accuracy or thoroughness of the data or information reported. Her content serves educational purposes and should not be relied upon as advice or construed as providing recommendations of any kind. Futures, stocks and options are financial instruments not suitable for every investor. Please be advised that you invest at your own risk. Monica Kingsley is not a Registered Securities Advisor. By reading her writings, you agree that she will not be held responsible or liable for any decisions you make. Investing, trading and speculating in financial markets may involve high risk of loss. Monica Kingsley may have a short or long position in any securities, including those mentioned in her writings, and may make additional purchases and/or sales of those securities without notice.

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