Back on Top – The US non-farm payrolls data released on Friday sent the stock indices higher with the S&P 500 hitting the top of the recent range. The positive NFP number has shifted traders attention over to the probability of a Fed rate hike this year. As a result, the US treasuries and gold traded significantly lower while the US dollar rallied.
In the week ahead I will focus on the consumer with US retail sales data and earnings reports from the consumer sector including department stores. The consumer discretionary sector has risen 4% since June, with two-thirds of the sector already reporting. We may see continued momentum in stocks, especially if Macy’s, Nordstrom and Disney can beat expectations.
Join us this week and experience the power of market intelligence. We will be show casing the new Einstein SmartBox automated trading system with cross-market relationships and correlations analytics.
Joe Rios – Founder, Rios Quantitative LLC
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