March 19, 2024

FOMC rate decision highlights big data week

Index & Sector performance 9/15/14

The Market:

The Dow (DIA) was the only index on the WSC Scoreboard to finish higher on the session while the NASDAQ (QQQ) and Russell 2000 (IWM) took a hit losing 0.97% and 1.15% respectively.  Baring any unforeseen news, we would not be surprised to see the markets get quiet until the FOMC rate decision and Statement later in the trading day Wednesday.

In individual sectors, Retail (XRT) was the biggest loser on the session finishing down nearly 1% and remains the laggard on the year.  On the upside, Energy (XLE) started off strong after two rough weeks.  With positive MACD divergence on the 60 minute chart, XLE may provide more upside opportunity and would be a sector we watch for the remainder of the week.

Big data week starting with PPI tomorrow before the open and then CPI early Wednesday followed up by the aforementioned FOMC Rate decision and Statement.  Don’t tune out after Wednesday though as we have Building Permits, Housing Starts, Unemployment Claims, and Fed Chair Janet Yellen speaking all on Thursday before the open and then Friday starts the G20 meetings.

 

Economic Calendar week of 9/15/14

 

Reporting EPS 9/16/14 Pre-Market:

Only one name reporting EPS 9/16/14 before the open: FactSet Research Systems (FDS) est $1.30.


Analyst Comments:

Upgrades 9/15/14

Downgrades 9/15/14

Initiations 9/15/14

Price Target Changes 9/15/14

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