Let's see, throughout the week Fed governors will be making speeches: Dennis Lockhart (two speeches), Charles Evans (two speeches), Esther George, John Williams, Charles Plosser and Jeffrey Lacker. This is part of their transparency mission and/or a campaign to pump-up investor confidence. You choose.
Talking heads aside earnings will be front and center. Alcoa (AA) just reported another loss. They maintain their habit of delivering results ex-everything one can imagine. With negative preannouncements analysts were busy downgraded their expectations allowing the company's report to meet expectations. After hours the stock is up a little with Inspector Clouseau perhaps trading the news. Juniper Networks (JNPR) reported an earnings miss and barely budged after being much higher during trading. The semiconductor sector (SOXX) jumped on an upgrade from Deutsche Bank. Netflix (NFLX) shares soared after hedge fund manager Whtney Tilson said on CNBC the firm is a likely takeover target. No doubt Whitney is long and wants you to be long too.The only economic headline Monday was a report that consumer debt expanded by, wait for it, the largest amount ($20 billion) since November 2011. Seriously? Let's focus on the previous date. The previous high was just after 9/11 when consumers were just coming out for air. This is a misleading headline. If it isn't then it has more to do with new car buying. The dollar, euro and gold were essentially flat on Monday. Bonds were stable as was crude oil as tensions remain high with Iran. Volume was (where is everybody?) ultra-light while breadth per the WSJ was positive. Follow our pithy comments on twitter and join the banter with me on facebook. SPY - The SPDR® S&P 500® ETF is a fund that, before expenses, generally corresponds to the price and yield performance of the S&P 500 Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
See more details IWM - The iShares Russell 2000 Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the small capitalization sector of the U.S. equity market as represented by the Russell 2000 Index. The index represents the approximately 2,000 smallest companies in the Russell 3000 Index.
See more details QQQ - is an exchange-traded fund based on the Nasdaq-100 Index ®. The Fund will, under most circumstances, consists of all of stocks in the Index. The Index includes 100 of the largest domestic and international nonfinancial companies listed on the Nasdaq Stock Market based on market capitalization. The portfolio is rebalanced quarterly and reconstituted annually. See more details Continue to U.S. Sector, Stocks & Bond ETFs