Stocks and Securities
With one full week remaining for the summer of 2018, the Dow Jones Industrial Average gained 1.5% in August, the S&P 500 index is up 2.1%, and the Nasdaq Composite Index has advanced about 3.6%. At its current pace, stock benchmarks are poised to produce the best August returns in four years.
On top of that, the S&P 500 on Friday booked its first record close since Jan. 26 and the Nasdaq Composite and small-capitalization Russell 2000 index joined the broad-market benchmark at all-time highs.
What’s more, the Dow Jones Transportation Average is 1.3% short of its all-time peak hit on Aug. 21, while the Dow is 3.1% shy of its Jan. 26 record top, which ought to provide some comfort to Dow theorists who believe that the tandem moves of Wall Street’s oldest gauge provides a bullish outlook.
Those gains could be erased however, particularly during a low-volume stretch in the market that is easily influenced by the continued headlines over tariffs, White House drama and other perceived issues around the globe. That said, the recent advances appear to be nothing to turn one’s nose up at.
Notable earnings for this week:
- Monday (August 27)
- Morning: AMWD
- Afternoon: HEI PAHC
- Tuesday (Aug 28)
- Morning: BBY BJ BMO BNS CTLT DSW HAIN SFUN SXI TIF
- Afternoon: BOX HPE HRB LCI NCS OOMA PSEC SCSC SCVL TLRY YRD
- Wednesday (Aug 29)
- Morning: AEO BF.B CHS DKS DY EV EXPR MOV
- Afternoon: CRM GEF GES HOME PVH SMTC TLYS UEPS
- Thursday (Aug 30)
- Morning: ANF BURL CIEN CPB DG DLTR GMS KIRK MEI MIK PDCO SIG TD TECD TITN
- Afternoon: AMBA AOBC COO LULU NTNX PAGS ULTA YEXT ZUO
- Friday (Aug 31)
- Morning: BIG
In the oil patch, West Texas Intermediate crude futures finished the week strong up 5.6% moving to high of $69.31 from a low of $64.85, to close the week at $68.52. Crude Oil Brent had a similar week as up 5.6%, closed the week at $75.43.
We will provide an update on our thoughts on the oil sector in the coming week.
What are the best stocks to buy in this market?
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Stocks on the Radar
Regarding potential ETF plays from our ETF ALPHA segment, last week we had the notables UWT (+13%), SOXL (+11%), LABU (+8%), YINN (+6%), and ERX (+5.5%). Look at this weeks take on the ETFs we follow.
Furthermore, we encourage our readers to look at our most recent article titled “New Frontiers in Genomic Medicine” as we highlighted Bluebird BioInc. (BLUE) as our next long-term investment opportunity.