British pound plunged after British government announced the plan on Brexit negotiation. US job report missed investors' expectation but strong enough for Fed to raise interest rate by year end. Stocks pulled back under these economy concern and waiting for company earning report season to start next week. For the week S&P 500 index closed at 2153, down 0.67%, Dow Jones Industrial Average lost 0.37% and technology laden NASDAQ composite index decreased 0.37% as well.
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| Weekly chart of S&P 500 index |
S&P 500 index is still in a wait-and-see mode this past week. On the positive side, the index is still above its 28 week moving average and the momentum is still at the high end of the range. Markets usually incur more volatility during the earning report season, so we should see some big moves in the next few weeks.
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