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Despite being a negative day across the board on Friday, there were certainly varying degrees of weakness in the indices - something we have been seeing a lot lately. The Dow lost a modest 76-points while the Nasdaq and small caps were pounded quite hard. The S&P 500 was somewhere in the middle but nothing too alarming, while the I-fund escaped with a strong day.

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The action this week was choppy for stocks and returns across indices were mixed. Earnings reports and partial trade deals kept investors' attention for the week. The U.S. and E.U. eased trade tensions this week with partial trade deals and hold off on tariffs were initiated. This pushed stocks up Wednesday but there is still a lot of possibilities ahead to keep investors questioning progress. For now the trade worries will be more exclusively turned towards China.

Earnings reports ...

Stocks were wildly mixed on Tuesday as the indices reacted to the big decline in Facebook. The Nasdaq took the brunt of the losses while the Dow shrugged it off and gained 113-points. So investors weren't outright selling. They were moving money from one sector to another, and small caps were one of the beneficiaries yesterday.]

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Stocks opened lower with the Dow down 128-points at yesterday's morning lows, but things drifted higher and with about an hour to go in the trading day the Dow was up about 11-points. Fast forward an hour and the Dow closed with a gain 172-points. The trade war took a positive turn and what looked like decent day for stocks, turned into a big day. Small caps, which aren't as impacted by tariffs, lagged a bit but were still up modestly.

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Google's earnings set the tone for Tuesday's open but it turned into a turnaround Tuesday depending on the index, so that's a bit of a red flag for the short-term. The Dow gained an impressive 198-points on the day, closing just off the day's highs, but it was the broader market indices that rolled over after the strong open.

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