We closed off the week with a big bang after all was said and done. Once the jobs data for the month of July were released, the futures popped a bit, but once the markets opened, it was pretty much all green from start to finish.
Ironically, across the pond, markets logged their best one-day gains in three weeks but still finished slightly lower for the week.
Earnings last week were a mixed bag in tech land with the likes of FitBit (FIT) , Etsy ETSY, Square (SQ) and Priceline (PCLN) shining through as their stock prices went higher. On the other hand, you had companies like Tableau Software (DATA) , TripAdvisor (TRIP) and FireEye (FEYE) report disappointing numbers and as a result got spanked.
As far as next week in tech-land earnings, on Monday we have Rackspace (RAX) after the close, Tuesday will bring us Yelp (YELP) , also after the closing bell, Thursday morning we will get a look at Alibaba's (BABA) numbers and Nvidia (NVDA) will report after the close that evening.
On the domestic economic front, the most important data will be on Friday when the producer price index numbers are released. On Thursday, Chinese industrial production and retail sales will be two data points of intense focus. In addition to these highlighted economic data releases, we will have gobs of releases both here and abroad. I am sure the swamis and gurus will analyze each data point to the minutest detail and then regale us with their negative or positive biases all week long.
Next week, we are relatively light as far as Federal Reserve presidents hitting the speaking circuit, but we do have two sell-side conferences on tap with the Cowen Communications Summit in Boulder, Colo., and the Oppenheimer Technology, Internet & Communications Conference in Boston, which could provide some interesting tidbits.
Thankfully, we are almost at the end of second-quarter earnings season, at least as far as tech-land earnings go, with the exception of those companies that take the full 45 days to report after their quarters are closed and those that have off-quarter book closures, such as Cisco (CSCO) and Hewlett Packard Enterprise (HPE) . (Cisco is part of TheStreet's Action Alerts PLUS portfolio.)
Interestingly, of those companies that have reported for 2Q, the information technology (tech land) sector had almost 80% of the companies reporting positive earnings surprises. Not too shabby given the gloom and doom going into earnings season, no?
With that, I wish each and every one of you a safe and joyful weekend with your loved ones!