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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

CBOE's Weekly Market Recap: August 29 to September 2

--News Direct--

Last week, an outpouring of economic reports was quickly digested by Wall Street.

At first glance, it appears the result of these reports showed positive signs. On Aug. 30, for example, the Labor Department reported 4.2 million quits compared to the 4.3 million forecasts. Jobless claims came in at 232,000, compared to the 245,000 median forecasts, and the ISM Manufacturing Index rose to 52.8% compared to the 51.8% estimate.

Interactive Brokers Group Inc. (NASDAQ: IBKR)’s Daily Lineup reports on the actions seen on Friday: “The stock market had a good run in the morning trade that saw the S&P 500, Dow Jones Industrial Average and Nasdaq each gain 1% at their highs. The market had a quick and sharp reversal in the afternoon, however, following a Bloomberg TV report that Gazprom is going to keep the Nord Stream 1 pipeline shut down due to a ‘technical issue’ that involves an oil leak.”

Despite some positive economic data, Cboe Global Markets Inc. (BATS: CBOE) reports that all major indices and exchange-traded funds (ETFs) recorded in this series — bar The Netherlands’ iShares Core DAX UCITS ETF (BIT: EXS1) — have decreased in value over the past week. Cryptocurrencies look to be following suit as well, albeit in a less dramatic fashion.

Lululemon Athletica Inc (NASDAQ: LULU) wins chart of the week following an earnings report that showed stronger-than-expected results and surprised Wall Street analysts.

Finally, Cboe notes earnings reports that may raise investors’ eyebrows in the following week.

Quick BitesExchange-Traded Funds

  • The SPDR S&P 500 ETF (NYSEARCA: SPY) decreased by 3.22% last week, the ETF’s third consecutive week of decline.

  • The Invesco QQQ Trust Series 1 (NASDAQ: QQQ) decreased by 3.99% last week, recording its third consecutive week of decline.

  • The iShares Russell 2000 ETF (NASDAQ: IWM) decreased by 4.69% last week, experiencing a larger decline than both its larger counterparts.

  • The Cboe Volatility Index™ (INDEXCBOE: VIX) increased by 0.23% last week.

World Markets

  • The iShares Core MSCI Europe ETF (NYSEARCA: IEUR) decreased by 3.56% week-on-week.

  • The iShares FTSE 100 UCITS ETF (LSE: ISF) decreased by 1.94% week-on-week.

  • The iShares Core DAX UCITS ETF (BIT: EXS1) increased by 0.64% week-on-week, showing behavior inconsistent with the U.S. ETFs listed in this series.

  • The Lyxor CAC 40 ETF (EPA: CAC) decreased by 1.64% week-on-week.

Chart Of The Week: LULU

This photo was taken from the TradingView platform

Shares of athletic apparel retailer Lululemon Athletica Inc. experienced a 7% increase in after-hours following an earnings report that surprised Wall Street analysts.

On Aug. 26, the company reported an earnings per share (EPS) profit of $2.20, which was 18.2% greater than the $1.86 consensus estimate. Despite the economic recession and an expected dilution in retail spending, Lululemon’s revenue maintained growth, generating $1.886 billion – 5.3% higher than consensus estimates.

The S&P500’s 1.05% decline on Friday ushered in clouds on LULU’s otherwise sunny earnings day. The company’s share price failed to hold its significant rise, dropping 3.6% on the day.

Major Cryptocurrencies

  • At the time of writing, Bitcoin has increased by 1.76% since last week.

  • At the time of writing, Ethereum has increased by 9.17% since last week, holding above that key $1,500 price tag.

  • At the time of writing, Solana has increased by 1.78% since last week, holding above that key $30 price tag.

Upcoming Earnings Releases

A number of companies report earnings next week, including:

Click here for more weekly insights by Cboe.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.

Contact Details

Michele Ormont

mormont@cboe.com

Company Website

https://www.cboe.com/

View source version on newsdirect.com: https://newsdirect.com/news/cboes-weekly-market-recap-august-29-to-september-2-751293437

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