The stock market ended Friday trading relatively unchanged, with the DOW closing -28 pts lower or -.10%. The S&P 500 and NASDAQ both finished higher on the day with +.34% and +.37% gains, respectively. The weakness towards the end of the week was tied to stimulus plan news after Treasury Secretary Steven Mnuchin said that "We've offered compromises, the speaker on a number of issues is still dug in, if 'she wants to compromise, there will be a deal. But we’ve made lots of progress in lots of areas, but there's still some significant areas that we're working through."
On a weekly level, The DOW and S&P 500 snapped a three-week winning streak with weekly losses of -.95% for the DOW and -.5% for the S&P 500. The NASDAQ had its first weekly loss in five weeks losing just -1%. Rounding out the weekly losses are the US Dollar which lost -1% and crude oil lost over -3%.
Bitcoin was the big winner of the week, posting a gain of +13%, trading back above the 12k mark for the first time since August of this year. Gold checked in with a measly gain of +.15%.
Key Levels To Watch Next Week:
- S&P 500 (CME:SP500): 3,354.54
- Dow (INDEX:DJI): 27,728.03
- NASDAQ (NASDAQ:COMP): 11,124.45
- U.S. Dollar (ICE:DX): 93.90
- Gold (NYMEX:GC.Z20): 1,929.40
- Crude Oil (NYMEX:CL.Z20): 40.92
- Bitcoin (BITCOIN:BITSTAMPUSD): 10,525.00
Every Success,
Jeremy Lutz
INO.com and MarketClub.com
