Weekly Market Recap For 19th Jul 2015 – Here are the 3 things you need to know for this week

By Markus Heitkoetter

Stocks looked great this week. But it was the NASDAQ that was unstoppable.

The NASDAQ had its best week since October of last year after a 4.25% gain. With a close of 5210.14 the NASDAQ ended the week with a new all-time high.

Google Inc (GOOGL) helped the NASDAQ lead the major indices on Friday. Fueled by better than expected earnings, GOOGL ended the day 16.26% higher with a record close. Friday’s gain gave GOOGL a $65 billion boost, the largest 1-day stock value increase in history.

After a rocky start to July, it felt as though a weight was lifted last week. With stocks ending higher on 4 out of 5 days, it was clear that concerns over China and Greece have been put on the back burner.

The S&P ended the week with a 2.41% gain and close of 2126.64. With a 50 point increase, the S&P ended the week just 5 points away from its record close.

The DOW added 326 points last week and closed at 18086.45. The DOW ended the week with a 1.84% gain.

Here’s what to keep an eye on this upcoming week:

All-time highs – We’re back to all-time high watch. The NASDAQ did it last week. Now the S&P and DOW are within reach of new all-time highs.

Earnings – This upcoming week Apple Inc (AAPL) is the big name to watch. AAPL is expected to report earnings after the bell on Tuesday.

Calendar – It’s a lite economic calendar this week. The first notable report is Existing Home Sales on Wednesday at 10:00am ET. With Crude Oil’s 3.9% drop last week, Wednesday’s Crude Oil Inventories at 10:30am ET could attract more attention than normal. Thursday brings us weekly Unemployment Claims at 8:30am ET followed by New Home Sales at 10:00am ET on Friday.

Amazon Inc. (AMZN) continued its march higher on Friday with a 1.58% gain and close of $483.01. Friday’s move was just what PowerX traders need to take profits at a $484.12 ADR Profit Target.

A PowerX Method Buy Signal was identified on July 13th.

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