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.
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
- U.S. bank shares fall on Turkey contagion fears
Tuesday, 14 August 2018
Wednesday, 15 August 2018
- Chinese oil importers shun U.S. crude despite tariff reversal
- Turkey tantrum? Investors fret over contagion from lira plunge
Thursday, 16 August 2018
Friday, 17 August 2018
- U.S., China Plot Road Map to Resolve Trade Dispute by November
- Canada on the Sidelines as U.S. and Mexico Near an Agreement on Nafta
For the second week in a row, Barry Ritholtz identified more negatives than positives in the week’s economics and markets news.
