Tuesday, October 29, 2019 – US investors breathed a sigh of relief as we appear to have made it through the month without any significant bruises. Despite all the worrisome news headlines, US Equity and Global Markets climbed last week. The broad market as measured by the S&P 500 closed the week very close to its all-time high of 3,022.55. The NASDAQ 100, the proxy for the QQQ, hit new highs last week. November and December are typically positive months for US Equity Markets and we appear to be heading that way. Traders should be aware that Google reports earnings on Monday to be followed by Facebook and Apple on Wednesday. These FAANG Stocks are critical to assess the direction of the leading indexes as they comprise a significant weighting in the benchmarks.
The final three
months of every calendar year should theoretically be a great time of year for
the stock market. It is the time of year when consumers spend the most money. That
in turn means businesses are selling the most stuff. And when the two are
combined, it means the economy should grow the most.
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