Unexpectedly Intriguing!
August 20, 2018

The doldrums of summer are here, which perhaps explains why investor reaction to geopolitical news would seem to be the only thing really moving the needle for the S&P 500 in the third week of August 2018.

After last week's concerns over the risk of contagion from Turkey's economic dilemmas began to be offset by a double dose of good news in the form of improved prospects for U.S.-China and U.S.-Mexico trade negotiations. But what really seems to have moved the needle during Week 3 of August 2018 was the solid earnings results that came out from both Walmart (NYSE: WMT) and Cisco (NASDAQ: CSCO) on Thursday, 16 August 2018.

Alternative Futures - S&P 500 - 2018Q3 - Standard Model with Redzone Forecast for 2019Q1 Focus between 20180808 and 20180911 - Snapshot on 17 Aug 2018

That said, this being the doldrums of summer, there wasn't a whole lot of major market-moving news in the week that was.

Monday, 13 August 2018
Tuesday, 14 August 2018
Wednesday, 15 August 2018
Thursday, 16 August 2018
Friday, 17 August 2018

For the second week in a row, Barry Ritholtz identified more negatives than positives in the week's economics and markets news.

The good news is that the S&P 500 is continuing to track along with our redzone forecast, where in a week where there really wasn't much going on, stock prices behaved as expected.

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