Hurricane Harvey & The Week Ahead
The coming week is shaping up to push the markets lower. Hurricane Harvey that hit the Texas and Louisiana coasts is still dumping rain overtop of the damage it has already inflicted. Some analysts think this could drive down the GDP as well as send gas prices higher since refineries (10) are shuttered. Gasoline futures have shot up as a result. This could present a good opportunity to buy oil companies!
Also this coming Friday will be the jobs report. Other events that may impact the market this week include: Trump tweets; Wednesday at 0830 a GDP Report; Wednesday at 10:30 EIA Petroleum Report; and Friday at 10:00 the ISM Manufacturing Index. It should be a bumpy ride this week in the markets.