EPS helped shrug off bad overseas data
The Market:
It doesn’t look like the S&P 500 (SPY) had a strong session but considering the futures were down roughly 10 points pre-market reportedly due to weak data out of Europe and China, to finish up a few points is a strong showing. Yesterday’s laggard was today’s leader as the Russell 2000 (IWM ) finished up over 1% clawing back most of yesterday’s losses and the Dow (DIA) was helped by Intel (INTC) which gained 4.66% after announcing a dividend hike and solid 2015 expected revenue growth.
In individual sectors, Retail (XRT) led today as Best Buy (BBY) finished 6.98% higher after reporting better than expected earnings in the pre-market. Another retailer moving higher on earnings was Kirkland (KIRK) which closed up an astonishing 24.54% after a beat and raise. Also putting in a strong showing was Energy (XLE) which finished up 1.25%. Above $88 and the XLE could really get moving to the upside but trader’s should remain nimble with stops.
Big Economic day with a lot of data including CPI which beat and Core CPI which met expectations while Unemployment Claims came in soft. We have no scheduled data for tomorrow.
Reporting EPS 11/21/14 Pre-Market: