December 17, 2018

Quiet start to the month

Index & Sector performance 11/3/14

The Market:

The market started the day slightly higher building on last week’s extremely strong session but the market ran out of steam in the short term and the S&P 500 started pulling back in afternoon trading finishing flat on the session.  All in all it was a low volume quiet session but the Bulls can point to the fact that they didn’t give ground after reaching new highs.

We do not expect the remainder of the month to be as quiet as today and would plan for swings in both directions much like October even if not as large.

In Individual sectors, Energy (XLE) stood out losing 1.58% as crude oil continues to slide to fresh 52 week lows now nearing $78/barrel.  On the upside it was again Utilities (XLU) leading the charge finishing up 0.66% to a new 52 week closing high and now up over 20% year-to-date.  The majority of the XLU components were higher but Dominion Resources (D) set itself apart finishing the day up 1.77%.

The continuation of earnings season will be important this week but the Economic Calendar is also in-play especially with Jobs data coming out Friday and Fed Speak throughout the week.  Today, ISM Manufacturing PMI came in better than expected while Construction Spending and ISM Manufacturing Prices missed.


Economic Calendar week of 11/3/14


Reporting EPS 11/4/14 Pre-Market:

Not all are listed below and the full list is available HERE.


Companies reporting EPS 11/4/14 pre-market

Analyst Comments:

Upgrades 11/3/14

Downgrades 11/3/14

Initiations 11/3/14

Price Target Changes 11/3/14

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