Hello Traders everywhere. North Korean Minister of Foreign Affairs Ri Yong Ho said Thursday that the country may consider testing a hydrogen bomb in the Pacific Ocean. If Korea does indeed conduct the test, it would be North Korea's first nuclear test beyond its borders. That statement has left traders with an uneasy feeling heading into the weekend.
Apple Inc. (NASDAQ:AAPL) continues to be a drag on the DOW as it looks to close out the 3rd straight week of declines with a -5.5% loss on the week. This is by far their worst weekly performance ahead of a major product launch since the original iPhone was released back in 2007.
Crude oil can't make up its mind and is trading in a tight range right above the $50 mark for the week. This sidelines action comes after an OPEC gathering concluded with no decision on an extension or deepening of supply cuts.
Key levels to watch next week:
S&P 500 (CME:SP500): 2,446.55
Dow (INDEX:DJI): 21,709.63
NASDAQ (NASDAQ:COMP): 6,334.59
Gold (NYMEX:GC.Z17.E): 1,319.80
Crude Oil (NYMEX:CL.X17.E): 50.70
U.S. Dollar (NYBOT:DX.Z17.E): 94.49
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
