June 20, 2019

China growth concerns weigh on market

Index & Sector performance 9/22/14

The Market:

The markets started the week off lower with many pointing to weak economic data out of China as well as comments from the Chinese finance minister stating there will be no major policy adjustments as the cause.  Leading the way lower was the Russell 2000 (IWM) which remains the clear underperfomer for the year with the Dow (DIA) not too far behind but at least positive YTD.

Multiple sectors closed the day down over 1% with Retail (XRT) leading the way finishing the session 1.59% lower.  The XRT is now again over 1% lower YTD.  HealthCare (XLV) has not been mentioned much as a laggard but was second today finishing down 1.54%.  Helping drag the XLV lower was Amgen (AMGN) and Celgene (CELG) which finished down 1.27% and 1.77% respectively but there were many others.  Finishing out the over 1% losers is Energy (XLE) down 1.47%, Transportation (IYT) down 1.45%, and Consumer Discretionary (XLY) down 1.4%.

Existing Home Sales came in lighter than expected reporting 5.05M vs 5.21M estimates.  For the remainder of the week, we will be watching New Home Sales Wednesday, Durables and Unemployment Claims Thursday and overall the Fed speak throughout the week.


Economic Calendar week of 9/22/14


Reporting EPS 9/23/14 Pre-Market:

Companies Reporting EPS 9/23/14 pre-market

Analyst Comments:

Upgrades 9/22/14

Downgrades 9/22/14

Initiations 9/22/14

Price Target Changes 9/22/14

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