March 19, 2024

Higher inflation ahead of Fed

Index & Sector performance 6/17/14

The Market:

In today’s Economic news, CPI came in higher than expected while the Building Permits and Housing Starts were below estimates.  The initial reaction off this data sent the S&P 500 futures trading lower but ultimately the index bottomed before the open and continued higher the remainder of the day.

Checking the WSC scoreboard the Russell 2000 led the charge while the other indices closed flat or slightly higher.  In individual sectors, the Financials (XLF) posting a 1.02% gain and the Retailers (XRT) finishing up 0.87% were the strongest groups.  In the Financials, MetLife (MET) was a stand out closing up 3.14% to a new 52 week high.  Also moving up in today’s action was broker stocks Charles Schwab (SCHW) which finished the day up 5.49% and E*Trade (ETFC) finishing up an impressive 7.74%.  SCHW and ETFC both look like they could build upon today’s action and challenge the recent highs.

After today’s mixed economic data, all eyes will be focused tomorrow on the Fed and any read through from the policy meeting.

Economic Calendar week of 6/16/14

 

Reporting EPS 6/18/14 Pre-Market:

Companies reporting EPS 6/18/14 pre-market


Analyst Comments:

Upgrades 6/17/14

Downgrades 6/17/14

Initiations 6/17/14

Price Target Changes 6/17/14

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