June 10, 2018
Weekly Market Outlook
By Keith Schneider
US Equity markets continue to perform well with most of our key risk indicators showing all clear. Of course, that can change in a heartbeat as the world awaits the outcome of the budding bromance between Trump and Kim. On the menu for the state dinner, is a Big Mac cooked on a grill, hopefully not nuked.
This week’s rally was led by the Dow Industrials which was up + 2.8%. DIA made up for lost ground. This was led by rumors that Kim, who loves Big Mac’s wants McDonald's franchises in North Korea.
Small Caps (IWM) and growth stocks that live in the NASDAQ 100 (QQQ) continue to be the leading stock index globally. Historically this upcoming week is one of digestion, so we certainly can see a pause in the attempt to take out the highs in both the S&P 500 and the Dow Industrials.