March 25, 2019

Early volatility wanes, dull day

Index & Sector performance 6/2/14

The Market:

Overall a quiet day in the market if you look at the overall performance but that does not show the early volatility the market saw when the S&P 500 futures dropped roughly 10 points at the open to only “V” bottom and spike back up near where the drop occurred.  After that it was tight trading the rest of the day leaving a small up day in the Dow & S&P with the NASDAQ and Russell 2000 closing on the downside.

Today there was some drama around ISM Manufacturing PMI after it was reported incorrectly 2 times before the 3rd time was the charm with a roughly inline 55.4 reading (55.7 est).  Final Manufacturing PMI was also roughly inline, 56.4 vs 56.2.  Construction Spending was on the light side posting a 0.2% when 0.8% was expected but the previous month’s number was revised up to 0.6% from o.2%.

Overall this is a very busy data week although tomorrow will be one of the lighter days on the schedule.  We will be watching vehicles sales and particularly General Motors (GM) and Toyota Motors (TM) both which we think could be carving out trade-able bottoms.

Economic Calendar week of 6/2/14

 

Reporting EPS 6/3/14 Pre-Market:

Companies reporting EPS 6/3/14 pre-market


Analyst Comments:

Upgrades 6/2/14

Downgrades 6/2/14

Initiations 6/2/14

Price Target Changes 6/2/14

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