August 17, 2018

Weak ADP data helps market gap

The Market:

The market gapped and continued higher for the first hour of trading which the news attributed to a weak ADP number which could keep the Fed from raising interest rates anytime soon.  After the first hour of trading the major indices began to lose ground and, while they all finished up on the day, they were all also well off their highs.

Leading on the WSC Scoreboard was Retail (XRT) which was the only sector to finish up by over 1% followed closely by Technology (XLK) which closed up 0.97%.  The only two losing sectors on the day was Consumer Discretionary (XLY) and Energy (XLE) which finished down -1.08% and -0.75% respectively.

ADP numbers set a tone but it will be interesting to see what the Governments numbers look like on Friday and, of course, how traders react.  Before then we will get another Jobs data point with Unemployment Claims scheduled to be out at 8:30 am ET tomorrow.

Please also note there are still lots of EPS reports — make sure you are checking your holdings!

 

Index & Sector performance 8/5/15

 

Economic Calendar week of 8/3/15

 

Reported EPS 8/5/15 After the Close:

Reporting EPS 8/5/15 After the Close

 

Reporting EPS 8/6/15 Pre-Market:

Reporting EPS 8/6/15 pre-market

 

Analyst Comments:

Upgrades 8/5/15

Downgrades 8/5/15

Initiations 8/5/15

Price Target Changes 8/5/15

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