Choppy trading leaves the indices flat
Index & Sector performance 2/26/14 The Market: A choppy trading session to saw a sell off toward the open which ultimately was bought until midday when the S&P started to make its way back down toward and below the previous intraday lows. Again buyers stepped in and were able to close the S&P 500 essentially flat on the day. Companies scheduled to report earnings pre-market: Analyst Comments:
New Year starts with a thud
Index & Sector performance 01/02/14 The Market: The first trading day of the year started in the opposite direction of 2013’s trend with the S&P 500 closing down near 17 points and essentially taking back much of the holiday drift higher that was seen. In economic data Unemployment claims came in worse than expected posting 339K vs. 334K expected. Last week’s claims were also adjusted slightly higher to 341K from 338K. The remaining released data either met or exceeded expectations including Manufacturing PMI, Construction Spending and ISM. In the News: Apple (AAPL) closed 1.41% (lower) amidst differing analyst opinions. Wells…
Waiting on Washington
Index & Sector performance 9/30/13 The Market: The lack of a deal from Washington on the impending government shutdown seemed to eight on trader’s mind. While the S&P was able to rally after a gap down in early trading, the rally was short lived and around 1:30 pm EST the market again lost ground although was able to remain above the early morning lows In economic data we had Chicago PMI which came in slight better than expected with a 55.7 reading when 54.5 was expected. Tomorrow we have Final Manufacturing PMI, ISM, Construction spending and Total Vehicle Sales. In…
Market follows up gap with more gains
Index & Sector performance 9/17/13 The Market: The majority of today’s action was in the first half hour of trading when the S&P gaped slightly higher and then ran up seeing the majority of the days gains. The remainder of the day the market was able to hold those gains and drift higher on what looked to be an overall light volume day. In economic news, Core CPI came in as expected while headline CPI was actually less than expected with a 0.1% increase when 0.2% was expected. Remember headline reflects food and energy while core strips it out. Tomorrow…
S&P regains the 50
The Market: Today did not have anything to really speak of in terms of Economic data and the remainder of the week is not necessarily uneventful but also not one of the more data laden weeks we see. Tuesday morning brings the NFIB Small Business Index, Thursday the Unemployment Claims as well as Fed Budget Balance and Import prices. and Friday rounds out the week with Consumer Sentiment and Inflation Expectations as well as Retail Sales and PPI. We track the data and the numbers posted in the Events Calendar. Story Stocks: Shareholders of Delta Air Lines (DAL) have had…
Daily Wrap
DJIA +106.29 (+0.69%) to 15,409.39;S&P 500 +10.46 (+0.63%) to 1,660.06;NASDAQ +20.92 (+0.70%) to 3,011.94 There were stocks moving today but the story was about the broad rally and especially gap higher in the market. At the highs the S&P 500 was up over 20 points from Friday’s close and while not necessarily attributable to one event seemed moe to be a snap back rally which started overseas in response to the previous week’s sell off. The market looks to be in a form of price discovery which at this juncture seems predominantly bullish but it is yet to be seen if the that will be the case and…
Analyst Comments
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