Cboe's Weekly Market Recap: May 30th To June 3rd

Attention shifted from the markets to those who lost their lives in service to the U.S. on Memorial Day. 

As the nation commemorated its heroes on May 30, markets around the world seemed to fall into a collective snooze. Cboe Global Markets Inc. CBOE reports that the SPDR S&P 500 ETF SPY, Invesco QQQ Trust Series 1 ETF QQQ and iShares Russell 2000 ETF IWM all recorded price movements between zero and 2%, while European market proxies like Europe’s MSCI European and the United kingdom’s iShares FTSE 100 did the same. 

Roger Rawlin’s Designer Brands Inc. DBI provided some excitement to a rather dull week, winning chart of the week following an impressive runup toward its earnings report. 

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

Quick Bites

Exchange-Traded Funds (ETFs)

• The SPDR S&P 500 ETF decreased 1.14% week-on-week after an emphatic 6.58% rise the week prior. 
• The Invesco QQQ Trust Series 1 ETF decreased 0.94% last week, an almost identical move to the SPDR. 
• The iShares Russell 2000 ETF increased 0.31% last week, recording its second consecutive green week.
• The Cboe Volatility Index® decreased 3.54% last week, breaking below the 25 to 36 consolidation range for the first time in six weeks. 

World Markets

• The MSCI Europe ETF IEUR decreased 0.86% week-on-week.
• The iShares FTSE 100 ISF decreased 0.69% week-on-week.
• The iShares Core DAX 30 EXS increased 0.03% week-on-week. 
• The Lyxor CAC 40 ETF CAC decreased 0.38% week-on-week. 

Chart Of The Week: DBI

This photo was taken from the TradingView platform

Shares of Designer Brands, a premium footwear and accessories clothing brand, increased nearly 30% in the runup to its earnings release, rising from a low of $12.40 in the premarket session to a high of $16. The company’s earnings per share (EPS) stood at $0.48 cents, 24 cents more than the consensus estimate of $0.24 cents. The company reported revenue of $830 million, 1.86% more than the $815 million consensus estimate. 

Major Cryptos

At the time of writing: 

• Bitcoin BTC/USD increased by 1%, representing its first week of price ascent in a while.
• Ethereum ETH/USD declined by 2%, representing its ninth consecutive week of decline.
• Solana SOL/USD declined 16.6%, representing its ninth consecutive week of decline.

Upcoming Earnings And Catalysts

June 6th to June 10th Earnings

HealthEquity Inc. HQY, Dave & Buster’s Entertainment Inc. PLAY, United Natural Foods Inc. UNFI and Nio Inc. NIO report earnings next week.

The earnings per share estimate for each is $0.26, $1.17, $0.97 and -$0.93, respectively. 

Click here for more weekly insights by Cboe. 

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Photo by Frank Busch on Unsplash