October 20, 2019

Weak Data & Earnings help drive stocks lower

Index & Sector performance 1/27/15

The Market:

While the Dow (DIA) and S&P 500 (SPY) finished down over 1%, it was the NASDAQ (QQQ) which led the session to the downside finishing 2.59% lower.  Microsoft (MSFT) was the biggest drain on the QQQ as it finished down 9.25% after a disappointing EPS report and even managed to pull down Apple (AAPL) which finished 3.5% lower on the session.  Things may look a little better for the tech sector tomorrow as AAPL is up after hours after reporting EPS.

The Russell 2000 (IWM) managed to be the relative winner finishing down less than a half of a percent.  Interestingly, the Equal Weight S&P 500 ETF (RSP) was only down 0.80% pointing to the fact that the declines in the S&P were more focused on the top weighted stocks.

Big names missing EPS today along with the aforementioned Microsoft (MSFT) was Caterpillar (CAT) down 7.18%, Procter & Gamble (PG) down 3.45%, and DuPont (DD) down 1.25%.  We expect earnings to continue to drive market reaction and headlines so below we listed the names that were scheduled to report tonight along with the stocks reporting pre-market tomorrow.

Technology (XLK) was the leading sector on the WSC Scoreboard to the downside followed by Industrials (XLI) and Transportation (IYT).  The outperformer of the session was Utilities (XLU) which was the only name on the WSC Scoreboard that finished the session higher up 0.14%.

There was a surprise today in the Economic Data with the Durable Goods Orders greatly missing forecasts posting a -3.4% when 0.6% was the estimate.  Core Durables also missed posting a -0.8% when again 0.6% was estimated.  But as we have seen before, tomorrow’s FOMC Statement can wash away all that negativity so we expect traders will be watching to see what 2pm ET brings.

 

Economic Calendar week of 1/26/15

 

Who reported today After the Close?

Companies reporting EPS 1/27/15 after the close

 

Reporting EPS 1/28/15 Pre-Market:

Reporting EPS 1/28/15 pre-market


Analyst Comments:

Upgrades 1/27/15

Downgrades 1/27/15

Initiations 1/27/15

Price Target Changes 1/27/15

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