The doldrums of summer are here, which perhaps explains why investor reaction to geopolitical news would seem to be the only thing really moving the needle for the S&P 500 in the third week of August 2018.
After last week's concerns over the risk of contagion from Turkey's economic dilemmas began to be offset by a double dose of good news in the form of improved prospects for U.S.-China and U.S.-Mexico trade negotiations. But what really seems to have moved the needle during Week 3 of August 2018 was the solid earnings results that came out from both Walmart (NYSE: WMT) and Cisco (NASDAQ: CSCO) on Thursday, 16 August 2018.
That said, this being the doldrums of summer, there wasn't a whole lot of major market-moving news in the week that was.
- Monday, 13 August 2018
- Tuesday, 14 August 2018
- Wednesday, 15 August 2018
- Thursday, 16 August 2018
- Friday, 17 August 2018
For the second week in a row, Barry Ritholtz identified more negatives than positives in the week's economics and markets news.
The good news is that the S&P 500 is continuing to track along with our redzone forecast, where in a week where there really wasn't much going on, stock prices behaved as expected.
