CBOE's Weekly Market Recap: July 25 To 29

A few weeks ago, the SPDR S&P 500 ETF Trust SPY saw its most significant price ascension since June 21, leaving investors wondering whether the worst of the bear market is over.

As of Aug. 3, the ETF appeared to be holding this price ascension, rising 0.60% in a three-day trading period and holding over highs created in last week’s rally. A glimpse at other market proxies around the world shows similarly optimistic sentiment.

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.

Proving an outlier to the market’s overall performance is Caterpillar Inc. CAT, which had a significant reaction to a recently released earnings report.

Finally, Cboe notes upcoming earnings that may lift investors’ eyebrows in the past week.

Quick Bites

Exchange-Traded Funds 

• The SPDR S&P 500 ETF increased by 4.28% the week of June 29, recording its second consecutive week of price ascension.
• The Invesco QQQ Trust Series 1 QQQ increased by 4.46%, following suit with the SPY’s overall movements.
• The iShares Russell 2000 ETF IWM increased by 4.31%, following in the footsteps of macro cap indices with strength.
• The Cboe Volatility Index™ VIX decreased by 7.47%, representing the seventh consecutive week of decline.

World Markets

• The iShares Core MSCI Europe ETF IEUR increased by 3.96% week-on-week.
• The iShares FTSE 100 UCITS ETF ISF increased by 2.06% week-on-week.
• The iShares Core DAX UCITS ETF EXS increased by 1.74% week-on-week. 
• The Lyxor CAC 40 ETF CAC increased by 3.88% week-on-week. 

Chart Of The Week: CAT

 

This photo was taken from the TradingView platform

Shares of construction equipment manufacturer and American Fortune 100 company Caterpillar dropped 3% in aftermarket hours as a result of an earnings report that surprised analysts.

On Aug. 2, the company reported an earnings per share (EPS) reading of $3.18, a reading 5% higher than estimates. However, the company reported revenue of $14.247 billion, a 0.2% decrease from the $14.275 billion estimate. 

While these deviations from estimates do not immediately spell danger, investors reacted negatively to the news, dropping another 3% in the two days following earnings. 

Inflation has been reported as the main culprit behind the giant’s weakness these weeks.

Major Cryptocurrencies

• Bitcoin BTC/USD increased by 6.08%, testing a high of $24,620 before closing at $23,990 on the week.
• Ethereum ETH/USD increased 5.08%, continuing its 19.44% increase from the week prior.
• Solana SOL/USD increased by 3.48% and closed at a price of $42.35 per coin. 

Upcoming Earnings Releases

 

A number of high-end companies reported earnings, including: 

• AMC Entertainment Holdings Inc. AMC
• Alibaba Group Holding Ltd. BABA
• Beyond Meat Inc. BYND
• Expedia Group Inc. EXPE
• GoPro Inc. GPRO
• Lyft Inc. LYFT 
• DraftKings Inc. DKNG 
• Canopy Growth Corp. CGC 
• Shake Shack Inc. SHAK

 

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Featured photo by Anna Nekrashevich on Pexels