March 19, 2024

Stong gains for shortened Op-Ex week

Index & Sector performance 4/16/14

The Market:

From our recap Monday we noted that while the market still appeared vulnerable to the downside, we would also not be surprised to see oversold short term levels and the shortened holiday trading week provide a bounce.  We did not at that time realize that we would get both the downside and the rally all in one day but that is in fact what happened on Tuesday and today was a follow-through on that action.

Tomorrow is the last day of trading for the week since the market is closed Friday in observance of Good Friday which means that tomorrow will also be options expiration.  There will likely be intraday volatility as is common during op-ex but overall we are not expecting a large move.

On the Economic Calendar tomorrow we have Unemployment Claims and the Philly Fed Manufacturing Index.  As a reminder, last week’s unemployment number came in better that expected posting a 300K but the previous week was revised higher to 332K from 326K.  We are interested to see if that surprise 300K number faces any adjustments.

Updated Economic Calendar week of 4/14/14

 

Reporting EPS 4/17/14 Pre-Market:

Companies reporting EPS 4/17/14 pre-market


Analyst Comments:

Upgrades 4/16/14

Downgrades 4/16/14

Initiations 4/16/14

Price Target Changes 4/16/14

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