March 19, 2024

Utilities shine amidst sea of red

Index & Sector performance 10/1/14

The Market:

All four of the main indices on the WSC Scoreboard finished well into negative territory with the NASDAQ (QQQ) leading the charge down 1.60%.

In individual sectors it was the Utilities (XLU) that stood out closing 0.57% higher while the rest of the list was well into negative territory.  It was a broad rally across the XLU with many stocks participating but some noteworthy gainers were Exelon (EXC) up 1.41%, Southern (SO) up 1.01%, and NRG Energy (NRG) up 2.33%.  EXC has been a favorite of ours but we would also watch SO as the pattern looks like it could breakout and continue higher.

In economic data, ADP came in better than expected as did ISM Manufacturing prices, however, there were a few misses including the ISM Manufacturing Data and Construction Spending.  Tomorrow we get Unemployment claims and then all eyes will be focused on Friday’s Jobs report.

 

Economic Calendar week of 9/29/14

 

Reporting EPS 10/2/14 Pre-Market:

Companies reporting EPS 10/2/14 pre-market


Analyst Comments:

Upgrades 10/1/14

Downgrades 10/1/14

Initiations 10/1/14

Price Target Changes 10/1/14

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