Companies featured in this edition of the newsletter: None
This post-holiday week saw a wider trading range than the previous pre-holiday stretch, as fewer investors took part in last week’s action, which made it easier to push the market around. The average daily NYSE floor volume was just 758 million shares vs 853 million two weeks ago. The Dow finished the week at 19,762 down 171 points or -0.9% from 19,933 last week, though it is still up 13.4% for the year. The NASDAQ closed the week at 5,383 down 80 points or -1.5% from 5,462 last week, and it is up 7.5% for the year. The S&P 500 finished the week at 2,238 down 25 points or -1.1% from 2,263 last week, and it is up 9.5% for the year. And last but not least, the Russell 2000 finished the week at 1,357 down 14 points or -1.0% from 1,371 last week, and it is up 19.5% for the year.
In economic news this week The Conference Board’s Consumer Confidence Index surged to 113.7 in December from an upwardly revised 109.4 in November. The initial claims report for the week ending December 24 showed claims decreasing 10,000 to 265,000, and the continuing claims for the week ending December 17 increased 62,000 to 2.102 million.
No market movers reported earnings this week.
This week the Citi 2017 Internet, Media and Telecommunications Conference will take place on January 3-5, 2017 in Las Vegas, NV. The Consumer Technology Association - CES 2017 Consumer Electronics Show will take place on January 5-8, 2017 in Las Vegas, NV. And the 20th ODDO Forum will take place on January 5-6, 2017 at the Lyon Convention Center in France.
A profile, description, or other mention of a company in the newsletter is neither an offer nor solicitation to buy or sell any securities mentioned. While we believe all sources of information to be factual and reliable, in no way do we represent or guarantee the accuracy thereof, nor the statements made herein. THE READER SHOULD VERIFY ALL CLAIMS AND DO ITS OWN DUE DILIGENCE BEFORE INVESTING IN ANY SECURITIES MENTIONED. This publication accepts compensation from companies that it features. This newsletter should not be regarded as an independent publication. Our editors may, from time to time, acquire positions in the companies that they cover. This could represent a conflict of interest. The CEOcast newsletter shall be under no obligation to inform readers about its trading activities. CEOcast's editors reserve the right to buy or sell shares in these companies at any time.