S&P 500 Analysis & ETF Trading

[alexed]

Economic reports for next week:
Mon 6/27
None
Tue 6/28
GDP – This is the third estimate (Final) for Q1 and since this data is now 3 months old, any revision is likely to be ignored by the markets. You’ll recall that the Preliminary report in Q1 showed +0.8%.
Case-Shiller Home Price Index – This index measures the change in the average prices of single-family, residential real estate across a broad section of 20 major cities in the US.
Wed 6/29
Personal Income & Spending – These reports use data from the monthly employment report to gauge income from wages and salaries. Personal income is also sometimes used to forecast future consumer spending.
Personal Consumption Expenditures (Core PCE) – PCE includes durable goods and nondurable goods which are directly influenced by the retail sales reports; and services. This is the Fed’s preferred inflation gauge.
Pending Home Sales Index – This report measures actual contracts signed, whereas existing sales (reported last week) measures actual closings, so this one is slightly more forward looking. This one will only affect the market adversely if it comes in very low.
Thu 6/30
Weekly Jobless Claims - For the week ending 6/18/16, claims decreased 18k to 259k, after being up 13k the prior week. The 4-week moving average now stands at 267k, down from 269k the prior week. With this change, the 4-week moving average is now 1k above the new 43-year low set 8 weeks ago.
Chicago PMI – This report is a gauge of business conditions within manufacturing and service firms in the Chicago area. A reading above 50 indicates expansion and a reading below 50 indicates contraction.
Fri 7/1
ISM Manufacturing Index - The Institute of Supply Management (ISM) Manufacturing Index tracks economic data from companies in the manufacturing sector. An increasing value is usually perceived as bullish for equities because it implies that profits in the manufacturing sector are on the rise.
Construction Spending – Construction spending measures new overall construction activity. This report can predict future activity in housing and commodities, which can be a sign of economic growth.

http://www.schwab.com/public/schwab/nn/articles/The-Active-Trader-Market-Outlook?cmp=em-RBL