Markets: Indexes fell for the 2nd time in the past 3 weeks, in spite of an 8%-plus gain in crude oil futures. The Dow and S&P remained positive year-to-date, but the NASDAQ and Russell small caps slipped further into the red.
Dividend Stocks Update: These high dividend stocks go ex-dividend this coming week: Five Oaks Invst (NYSE:OAKS), Waddell & Reed Financial Inc (NYSE:WDR), and Costamare Inc (NYSE:CMRE).
Volatility: The VIX rebounded strongly from its 8-month lows this week, finishing at $15.36, up 17.25% for the week.
Currency: The US dollar rose vs. the pound, NZ and Aussie dollars, and fell vs. the euro, loonie, Swiss franc, and the yen.
Market Breadth: 9 of the DOW 30 stocks rose this week. 26% of the S&P 500 rose this week.
US Economic News: Factory Orders fell -1.7%, after last month’s 1.2% gain.
Week Ahead Highlights: Q2 Earnings season kicks off Monday, with Alcoa (NYSE:AA) reporting, followed by several other large caps, including mega banks JP Morgan Chase (NYSE:JPM), Citibank (NYSE:C), Bank of America (NYSE:BAC), and Wells Fargo (NYSE:WFC), It’ll also be a big data week, with reports due out on PPI, CPI, Retail Sales, Industrial Production, and Consumer Sentiment.
Sectors and Futures:
Energy led this week, as Financials trailed:
Crude oil led this week, with OJ trailing. Crude rose on investor hopes that the 4/17 meeting of major crude exporters will reach an agreement to freeze oil output, and lower US stockpiles:
