Market Realist Weekly: Get Real 9/18/17

1 2 3
Market Realist Weekly: Get Real 9/18/17 PART 1 OF 3

Markets Started Strong and Finished Solid Last Week

Strong opener and decent close

Last week, financial markets opened on a strong note as Hurricane Irma died down and the damage was less than anticipated. Across the board, markets (SPY) (NASDAQ) (DJI) rose 1%–2.5% in the US. Oil (USO) had an even better week. OPEC tried to extend cuts beyond March of next year.  As risk assets rallied, gold (GLD) gave back a bit during the week and fell 2%. On Monday, the Dow opened almost 260 points higher followed by another up day on “Apple Day” Tuesday. Here are the highs and lows last week:

  • Hurricane Irma weakened with damage estimates as high as $20 billion–$65 billion, but lower than initial fears.
  • Equifax (EFX) fell another 25%. Everyone wants answers about how 143 million people’s sensitive data were compromised.
  • Apple (AAPL) announced new phones, but the stock traded off due to concerns about price points. The stock fell 2.4% from its intraday high on Tuesday.
  • OPEC looks to extend cuts past March.
  • Hurricane Harvey and Hurricane Irma seem to have shaved off as much as 1% from 3Q GDP.
  • Citigroup (C) and J.P. Morgan (JPM) talked about a fall in trading revenue of 15% and 20%, respectively. Despite those admissions, both stocks rallied and are near all-time highs.
  • Earnings announcements were light. Oracle (ORCL) was the only bellweather—the stock fell 5.5% following its weak outlook.

Markets Started Strong and Finished Solid Last Week

Interested in AAPL? Don't miss the next report.

Receive e-mail alerts for new research on AAPL

Success! You are now receiving e-mail alerts for new research. A temporary password for your new Market Realist account has been sent to your e-mail address.

Success! has been added to your Ticker Alerts.

Success! has been added to your Ticker Alerts. Subscriptions can be managed in your user profile.

In this series, we’ll look at potential red flags in the market and what’s expected this week.


Please select a profession that best describes you: