March 19, 2024

Lots of data yields flat finish

Index & Sector performance 7/30/14

The Market:

Lots of Economic Data/announcements in today’s session but when the dust settled it was surprisingly a flat session with the NASDAQ (QQQ) and Russell 2000 (IWM) leading while the Dow (DIA) finished slightly lower and the S&P 500 (SPY) finished slightly higher.

The leading sector on the WSC Scoreboard was Retail (XRT) finishing the day up 1% however Retail remains the only individual sector on the WSC Scoreboard that is down for the year.  The laggard was the Utilities (XLU) and decisively so finishing the day down 1.69%.  We remain interested in some Utility names but are waiting for clear set-ups as well as for some to report EPS.

In Economic data, ADP Employment came in lower than expected but Q2 GDP estimates crushed expectations growing at a seasonal annual adjusted rate of 4% vs. analysts expectations of around 3.1%.  As was expected the Fed left the target funds rate unchanged and reduced bond purchases.  Tomorrow we get Unemployment Claims but the market will likely be looking ahead to Friday’s Jobs report.

 

Economic Data week of 7/28/14

 

Reporting EPS 7/31/14 Pre-Market:

Below is a list of the majority of the names reporting EPS tomorrow before the open but please visit the Events Calendar for the entire list of confirmed names with average volume over 300K.

Companies reporting EPS 7/31/14


Analyst Comments:

Upgrades 7/30/14

Downgrades 7/30/14

Initiations 7/30/14

Price Target Changes 7/30/14

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