March 19, 2024

Markets stop slide, fight back

Index & Sector performance 8/4/14

The Market:

After two strong down days, all 4 indices on the WSC Scoreboard managed to find bottoms and rally with the Russell 2000 (IWM) leading the charge finishing the day 0.89% higher.  One note of caution, volume was on the light side when compared to the previous two sessions.  Our suggestion would be to watch the first major pullback after today’s move.  If it is orderly then the market likely has unfinished business to the upside, otherwise we will likely see another push lower.

In individual sectors it was green across the board except for the Utilities (XLU) which finished the day down 0.53% and due to the last few weeks has been dethroned as most up sector YTD (currently held by the Transportation (IYT) sector).  As of last week the Retail (XRT) sector is not along in being down for the year and now has company from the Industrials (XLI) and Consumer Discretionary (XLY).  The leader in today’s session was Energy (XLE) which finished the day up 1.68% in a very strong showing.

After so much Economic data last week it is not surprising to see a lighter schedule for this week.  Worth watching tomorrow is ISM Non-Manufacturing PMI.

 

Economic Calendar week of 8/4/14

 

Reporting EPS 8/5/14 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 8/5/14 pre-market


Analyst Comments:

Upgrades 8/4/14

Downgrades 8/4/14

Initiations 8/4/14

Price Target Changes 8/4/14

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