December 16, 2017

China & Buffett support stong session

Daily-Wrap

The Market: A strong overnight session in China which was triggered by changes to the latest monetary policy report and also on reports that China will overhaul state-owned enterprises helped get the market started and then Warren Buffett and Berkshire Hathaway (BRK.A, BRK.B) helped fan the fire by first purchasing Precision Cast Part (PCP) for $235/share in cash and then during an interview noted that he likes IBM (IBM) and answered a question about if he is buying that people should check the SEC filings in the coming days.  The Dow (DIA) led today’s rally. Energy (XLE) was the biggest…

Strong start to the week led by Tech

Daily-Wrap

The Market:     Reporting EPS 7/14/15 Pre-Market:   Reporting EPS 7/14/15 After the Close:   Analyst Comments:

Early gap up fades, XLE leads lower

Daily-Wrap

Index & Sector performance 4/21/15 The Market: The Nasdaq (QQQ) was the only sector that managed to finish the session higher while the Blue Chip Dow (DIA) was the leader to the downside. After spending the majority of the year down, Energy (XLE) has recently rallied to up YTD but there was no optimism today as the sector finished over 1% lower.  Also finishing lower was Utilities (XLU) down 0.89%, Materials (XLB) down 0.74%, and Financials (XLF) down 0.50%.  Today’s clear leader was HeathCare (XLV) which managed to close up 0.68% on the session. No tracked Economic data yesterday or today…

Week starts slow – GS grounds BA

Daily-Wrap

Index & Sector performance 2/23/15 The Market: Overall a flat session with the NASDAQ (QQQ) and Russell 2000 (IWM) finishing slightly higher while the Dow (DIA) and S&P 500 (SPY) finished lower.  The main drag on the DIA today was Boeing (BA) which finished down 2.26% after Goldman downgraded the name to Sell with a $132 price target. In individual sectors it was a mixed bag with the Industrials (XLI) leading to the downside finishing down 0.43% while the Utilities (XLU) led to the upside finishing up 0.68%.  As we posted tonight in the Charts section, the XLU held a…

S&P follows crude lower yet again

Daily-Wrap

Index & Sector performance 12/15/14 The Market: Crude oil started to rebound in Sunday’s overnight session and helped the major indices start the day with a gap higher but the optimism was short lived.  Oil quickly started to lose ground after the open and reached fresh 52 week lows by noon taking the S&P with it.  Both indices found a midday bottom but only the S&P was able to close above those lows. We are interested to see if there is follow-through on the downside tomorrow in the S&P and if so we suggest traders remaining open to the possibility…

Late rally masks tough session

Daily-Wrap

Index & Sector performance 10/15/14 The Market: A very volatile session in today’s trading which saw the S&P 500 (SPY) down 3% before a sharp last hour rally helped the index only finish down 0.75%.  Without that late rally, the SPY would have been down year-to-date at the close.  As has been the case of late, the Russell 2000 (IWM) outperformed finishing the session up over 1%. The best performing sector in today’s session was Energy (XLE).  Like the SPY, the XLE was down much more earlier in the session but finished the session up 0.76% after a strong last…

Retail sales beat, Unemployment drags

Daily-Wrap

Index & Sector performance 12/12/13 The Market: The market continued picked up where it left losing more ground but not as dramatic as the 1% down yesterday.  The majority of the losses where in the beginning part of the day with the market making the lows for the day around 12:30 pm EST and starting to rally.  That rally halted around 3pm EST and the market used the last hour to sell off not quite making it back to the midday lows. In economic data, Retail Sales number beat expectations and with Core Sales doubling expectations posting a 0.4% and…

A flat day across all the major indices

Daily-Wrap

Index & Sector performance 10/28/13 The Market: A fairly lack luster day as the broad indexes chopped around with the S&P and Nasdaq closing positive while the Dow and Russell lagged.  Early optimism in the S&P was quickly sold in early trading but the market was able to hold and press to new highs until a late day sell off which sent the S&P back toward unchanged for the day. In economic data we saw Capacity Utilization Rate and Industrial Production month over month beat expectations while pending home sales greatly disappointed posting a -5.6%.  Tomorrow will be a much…