What to Watch for this Week
As I write this the Philidelphia Eagles just won the Super Bowl, their first one in NFL history.
This week the economic calendar is light. This will give many people time to wonder if this is a turning point in the market or just a nother dip that people will buy. Last week the volitility increased 36% as the market lost ground; S&P 500 -4% and Dow -4.29%. Last week there were some big names that announced good earnings and the market did not go to new highs. US bond interest rates increased 6.38% which makes the dollar strong and the market retreat. I suspect earnings will continue to be good and most traders will look to discussions of outlook for indicators on where the market will head next.
Global Spotlight
Brexit Negotiations Pick Up Speed. The Brexit negotiation is slowly gaining momentum again as the remaining 27 members of the European Union approved a series of guidelines for the upcoming negotiations over the transitional period that will follow Britain’s departure from the bloc in March 2019.
Korean Olympics. South Korea’s Winter Olympics will begin in Pyeongchang on Feb. 9, marking the start of events that will last through mid-March and showcasing a warming in inter-Korean ties.
Uzbek Security Chief Ousted. Uzbekistan’s long-serving National Security Service chief, Rustam Inoyatov, was dismissed by President Shavkat Mirziyoyev on Jan. 31.
India’s Budget Released. On Feb. 1, India’s Finance Minister Arun Jaitley presented a $381 billion budget aimed at appeasing the country’s politically powerful rural constituency in the lead-up to Prime Minister Narendra Modi’s 2019 re-election bid.
U.S.’s Russia List Drops. The U.S. Treasury Department unveiled the long-anticipated “Russia lists” that explore the elite and powerful Russians tied to Vladimir Putin’s government.
Stratfor.com
Economic Calendar
Here is a list of the U.S. economic events happenning this week.
briefing.com
Last Weeks Numbers
Review Last weeks numbers here.
