CBOE's Weekly Market Recap: July 18 To 22

Following last week’s price movements on the SPDR S&P 500 ETF Trust SPY, it appears that July may be the first month to close with a price ascension of over 1% since March. 

While macroeconomic data seems to suggest that the American economy is still in a recession, several indices show price ascension that may leave some investors optimistic.

Specifically, Cboe Global Markets Inc. CBOE reports that European exchange-traded funds (ETFs) like the iShares FTSE 100 UCITS ETF ISF and iShares Core DAX UCITS ETF EXS reaped positive returns last week, with local ETFs like the iShares Russell 2000 ETF IWM following suit.

Adding further optimism to last week’s movements is Citigroup Inc. C, which won chart of the week following an earnings release that went above and beyond analyst expectations. 

Finally, CBOE notes upcoming earnings that may lift investors’ eyebrows in the week to follow.

Quick Bites

Exchange-Traded Funds 

• The SPDR S&P 500 ETF increased by 2.59% last week, recording a nearly 40-point ascension from the low formed on the week ending June 13. 
• The Invesco QQQ Trust Series 1 QQQ increased by 3.47% last week, following suit with the SPY’s overall movements.
• The iShares Russell 2000 ETF IWM increased by 3.71% last week, following in the footsteps of macro cap indices with strength.
• The Cboe Volatility Index™ VIX decreased by 4.87% last week, representing the sixth consecutive week of decline.

World Markets

• The iShares Core MSCI Europe ETF IEUR increased by 3.62% week-on-week.
• The iShares FTSE 100 UCITS ETF ISF increased by 1.6% week-on-week.
• The iShares Core DAX UCITS ETF EXS increased by 3.04% week-on-week. 
• The Lyxor CAC 40 ETF CAC increased by 2.9% week-on-week. 

Chart Of The Week: C

This photo was taken from the TradingView platform

Shares of the financial giant Citigroup climbed 5.7% in aftermarket hours as a result of an earnings report that greatly surprised analysts.

On July 15, the company reported an earnings per share (EPS) reading of $2.19, 30.59% above the $1.68 estimate. Additionally, the company reported revenue of $19.638 billion, a 7% increase from the $18.352 billion estimate. 

Citigroup’s resilience — especially when juxtaposed against other financial titans — is a rarity in the financial sector. The company said in a press release that its treasury and trade solutions were a large reason for its performance. 

As of the time of this writing, shares of Citigroup had increased 18% from its pre-earnings valuation. 

Major Cryptos

• Bitcoin BTC/USD increased by 8.62%, testing a high of $24,287 before closing at $22,583 on the week.
• Ethereum ETH/USD increased 19.44%, a continued reaction potentially influenced by the release of a concrete date for The Merge. 
• Solana SOL/USD increased by 6.02% and closed at a price of $40.93 per coin. 

 

 

Upcoming Earnings Releases

United Parcel Service Inc. UPS, Coca-Cola Co. KO, General Electric Co. GE, McDonald's Corp. MCD, Shopify Inc. SHOP, Boeing Co. BA, Spotify Technology SA SPOT, Pfizer Inc. PFE, Tilray Inc. TLRY, Mastercard Inc. MA, Exxon Mobil Corp. XOM, Chevron Corp. CVX and Procter & Gamble Co. PG all report earnings in between July 25 and July 29.

Keep a close eye on next week’s updates for details on these, and click here for more weekly insights by Cboe. 

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Featured photo by Artem Podrez on Pexels