July 24, 2017

The NightCap

Daily-Wrap

The Market: A lower close for all 4 main indices on the WSC Scoreboard as the Russell 2000 (IWM) led to the downside while the NASDAQ (QQQ) was the relative outperformer. The Retail (XRT) sector was the biggest loser on the WSC Scoreboard followed closely by Energy (XLE).  Unlike some other sectors, the XRT is not heavily weighted in a few stocks and, as of 11/10/15, has no stock weighted more than 1.27% so when you see strong moves up or down, like today, it is due to a majority of the names trading in that direction.  Bucking the trend…

The NightCap

Daily-Wrap

The Market: A late day rally helped the market close well off the midday lows but all 4 major indices on the WSC Scorobard still finished down near or over 1%.  Based on the recent action, we expect to see lower levels in the short-term. In individual sectors, Retail (XRT) was the hardest hit sector on the WSC Scorboard with Priceline (PCLN) finishing down over 9% on the session after reporting EPS which beat expectations but guidance that fell short.  We will be watching Ctrip.com (CTRP) which is scheduled to report EPS tomorrow, November 10th, after the close — CTRP…

Central bank news abroad drives headlines

Daily-Wrap

Index & Sector performance 1/21/15 The Market: It was a relatively choppy session which saw the Dow (DIA), S&P 500 (SPY), and NASDAQ (QQQ) manage to finish higher while the Russell 2000 (IWM) closed lower.  There were reports out of Europe that the ECB Executive Board proposed the purchase of EUR 50B/mo of bonds in a program that should last at least a year.  There was more news from outside the U.S. with a surprise rate cut in Canada to counteract the sharply declining oil prices. Energy (XLE) led the charge today as all sectors on the WSC Scoreboard finished…

All quiet before jobs data

Daily-Wrap

Index & Sector performance 10/21/13 The Market: Not too much to report as it was a quiet down day in the S&P 500 and Dow with the Nasdaq making small gains much on the back of a strong performance from Apple (AAPL) closing up nearly 2.5% on the day. In economic news we had Existing Home Sales with came in light posting a 5.29M when 5.31M was expected.  Tomorrow will be a much bigger day as we get the jobs report that was delayed due to the government shutdown.  Current forecast is for 182K and Unemployment rate of 7.3% Story…