Farewell QE3
Posted by Admin on Wednesday, October 29, 2014
Index & Sector performance 10/29/14
The Market:
It was a relatively quiet session the majority of the day as traders were awaiting the 2pm FOMC rate decisions and statement. As was expected, the Fed ended QE3 but continued to note that rates would remain low for a “considerable period”. The initial reaction after the release was a move lower but the market had already been trending that way since the open and, after the initial drop, buyers stepped in and ultimately the indices closed only slightly lower.
It was a mixed session across the WSC Scoreboard sectors with Materials (XLB) leading the way lower finishing down 1.24% followed by Utilities (XLU) and Retail (XRT) which both finished 0.58% lower. The best performing sector was Enerfy (XLE) which closed up 0.33%.
The Economic news/data is not done for the week and tomorrow we get Advance GDP, Unemployment Claims and Fed Chair Janet Yellen speaks.
Economic Calendar week of 10/27/14
Reporting EPS 10/30/14 Pre-Market:
Not all are listed below and the full list is available HERE.
Companies reporting EPS 10/30/14 pre-market
Analyst Comments:
Upgrades 10/29/14
Downgrades 10/29/14
Initiations 10/29/14
Price Target Changes 10/29/14
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