Picks of the day December 26, 2017.
Last Week of 2017
Stocks recorded very slight gains at the end of this past trading week and it seemed that come Friday, the market’s tank was near empty; investors essentially digested the massive tax reform before entering a long holiday weekend. It’s now the last week of the year and the market usually rises over the last few days of the year and the first few days of the incoming year – in what’s known as a Santa Claus rally.
Despite the fact that the market has already risen 20% in 2017, there are market strategists who are lifting their 2018 forecasts for the S&P 500 and for firm earnings, based on the tax cut signed into law by Donald Trump last Friday, along with the huge U.S. building and infrastructure stimulus package presumably just down the road. Take for example Credit Suisse analysts who raised their 2018 S&P 500 target to 3,000 points.
Trading this week is likely to be restrained, perhaps even featuring flat or sideways movement. Now, with the tax reform bill making it through both chambers of Congress and signed into law, the market will no longer benefit from a tailwind from Capitol Hill.
This coming week investors will focus on the Consumer Price Index on Tuesday, pending home sales on Wednesday and the Leading Indicators Index and initial unemployment claims on Thursday.
Have a great trading day!
|Wednesday||9:00||S&P Corelogic Case-Shiller HPI||0.6 %||Medium|
|Wednesday||10:00||Pending Home Sales Index||0.6 %||Medium|
|Thursday||8:30||Jobless Claims||240 K||Medium|
|Thursday||11:00||Oil Inventories||0.4 %||Low|
Today’s Picks – Day Trading!
New York Strategy Swing
Today’s Picks – Swing “New-York Strategy”
No.1 – SKX
|Company Name||Skechers U.S.A.|
|Sector||Consumer Goods | Textile – Apparel Footwear & Accessories|