Market Perspective for November 26, 2018

The stock market opened higher today, with the S&P 500 Index rallying 1.55 percent. The Dow Jones Industrial average gained 1.46 percent and the Nasdaq 2.06 percent. The Russell 2000 Index increased 1.16 percent. SPDR Financial (XLF) gained 2.06 percent and SPDR Technology (XLK) rose 2.26 percent.

November consumer confidence, revised third quarter GDP, October new home sales and weekly jobless claims highlight this week’s economic data. Analysts are expecting an increase in home sales to an annualized pace of 589,000.

The highlight of the week is the minutes from the prior Fed meeting. Some analysts have begun forecasting a dovish shift by the Federal Reserve. Speculators have also eased their rate hike expectations for 2019. Bond yields have been stable over the past week, including 30-year treasuries. (CRM), Cracker Barrel (CBRL), Bank of Nova Scotia (BNS), Weibo (WB), Tiffany & Co (TIF), Royal Bank of Canada (RY), Dicks Sporting Goods (DKS), The Children’s Place (PLCE), Sina Corp (SINA), Box Inc (BOX), Chico FAS (CHS), SodaStream (SODA), Dell Technologies (DVMT), VMware (VMW), Dollar Tree (DLTR), HP Inc (HPQ), Workday (WDAY), Palo Alto Networks (PANW), Abercrombie & Fitch (ANF) and Big Lots (BIG) all report earnings this week.


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