Welcome to The Weekly Option, a weekly program that offers practical trades and discussion for beginners and professionals alike.
There was quite a bit of economic news this past week. There’s less of a threat of a transatlantic trade war after positive negotiation between the US and the head of the EU. There are also some trade negotiations happening for NAFTA, which will hopefully result in better trade with Mexico and Canada.
The US economy also grew at a 4.1% pace during second quarter, on the backs of increased consumer spending. I’m expecting this to lead to some strong S&P and DOW numbers in the coming weeks. It’s also likely to give the Fed more reason to look at increasing interest rates to offset possible inflation at their next meeting this upcoming Wednesday.
The markets finished this week with very little significant movement in the equity indexes. The S&P 500 Index closed 60 basis points higher this week, or just slightly more than half of a percent change. The closing price was 2,818. The Dow Jones Industrial average had a slightly higher change, pushing higher by 392 points, or one and a half percent, to finish the week at 25,451 points. We are looking forward to earnings from the following companies:
In this week’s show, we will cover the trades from last week on Macy’s, US Steel, and Hertz Global Holdings.
And we discuss three new trades on Whiting Petroleum, General Motors, and Verizon Communications.
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