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Strong Equity Market – Posts 6-Week Winning Streak

Strong Equity Market - Posts 6-Week Winning Streak

The Dow Jones Industrial Average posted its 6th consecutive week of gains as the US equity markets had a record breaking January. The market obviously had a series of boost from the Fed becoming dovish on its hike cycle, possible US China trade deal and the confirmation of a continued powerful labor market with the Payrolls report showing 304,000 jobs created in JanuaryEarnings reports continue and so far, this season, 45 percent of the S&P 500 have reported with 68 percent showing stronger-than-expect results. This is another solid earnings seaons that might, collectively beat expect. This jobs number comes right after the US government shutdown ended. 

Wall Street is in the midst of earnings season with Merck (better-than-expected), Exxon Mobil and Amazon reporting results. Amazon also beat expectations. Chevron reported strong profit projections, this stock rallied 3.2 percent on Friday. 

This is another solid earnings season that might, collectively beat expectations. Finally, President Trump and President Xi of China will meet soon and by all accounts, it seems the two leaders are looking to put together a comprehensive trade deal. Such a deal would give equity markets a boost. 

This article was sourced from a list of news releases and  other sources. 

Team Classiarius



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