Cboe's Weekly Market Recap: May 23rd To 27th

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After weeks of consecutive declines, the markets finally saw a green light last week. 

Cboe Global Markets Inc. CBOE reported a price ascension in a number of international and local markets for the May 23-27 trading period. Specifically, the Nasdaq 100 Index, Russell 2000 Index and S&P 500 Index all reported increases last week as did European market proxies like Europe’s MSCI European and the United Kingdom’s iShares FTSE 100. 

Bharat Masrani’s Toronto-Dominion Bank TD wins chart of the week following a steady reaction to an earnings report that outperformed estimates. While the crypto market remains in decline, the rise in other markets has left investors wondering whether the market drawdown is coming to an end. Only time will tell whether that is the case. 

Finally, Cboe noted important upcoming earnings that may lift investors’ eyebrows in the following week.

Quick Bites

Exchange-Traded Funds (ETFs)

• The SPDR S&P 500 ETF increased 6.58% last week, breaking a seven-week streak of price descent. 
• The Invesco QQQ Trust Series 1 QQQ increased 7% last week, rising above last week’s high. 
• The iShares Russell 2000 ETF IWM increased 6.57% last week, recording its first green week in five weeks.
• The Cboe Volatility Index® decreased 12.61% last week. The fear gauge has consolidated between 25 and 36 for the last five weeks.

World Markets

• The MSCI Europe ETF IEUR increased 4.47% week-on-week, representing its third week of price appreciation.
• The iShares FTSE 100 ISF increased 2.71% week-on-week, its third week of price ascension.
• The iShares Core DAX 30 EXS increased 3.5% week-on-week. 
• The Lyxor CAC 40 ETF CAC increased 4.08% week-on-week. 

Chart Of The Week: TD

This photo was taken from the TradingView platform

Shares of Toronto-Dominion Bank increased by roughly 4 points in the three days following its earnings report, which surprised analysts by beating major consensus estimates. The company’s earnings per share (EPS) stood at $1.57, 7 cents more than the consensus estimate of $1.50. The company reported revenue of $8.57 billion, 7.48% more than the $7.97 billion consensus estimate. 

Major Cryptos

At the time of writing: 

• Bitcoin BTC/USD declined 2.69%, representing its eighth consecutive week of decline.
• Ethereum ETH/USD declined 11.26%, representing its eighth consecutive week of decline.
• Solana SOL/USD declined 14.28%, representing its eighth consecutive week of decline and revisiting price levels held in April 2021.

Upcoming Earnings And Catalysts

June 2nd and 3rd 

Lululemon Athletica Inc. LULU and Designer Brands Inc. DBI report earnings on June 2nd, while BRP Group Inc. BRP reports earnings on June 3rd. 

The earnings per share estimates stand at $1.43, $0.24, and $0.93 respectively.

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.

Photo by Carlos Alberto Gómez Iñiguez on Unsplash