Tech closes at new 52 week high
The Market: Stocks continue to rebound strongly after a rough week of trading last week. The NASDAQ (QQQ) led today’s charge finishing at a new 52 week closing high followed by the S&P 500 (SPY) while the Russell 2000 (IWM) and Dow (DIA) lagged. Many individual sectors outperformed in the session with Utilities (XLU), Reatil (XRT), Technology (XLK), and Consumer Staples (XLP) all finishing up over 1%. Reporting EPS 7/16/15 After the Close: Reporting EPS 7/17/15 Pre-Market: Analyst Comments:
Greece rules headlines in slow session
Index & Sector performance 2/9/15 The Market: Losses across the WSC Scoreboard with the Russell 2000 (IWM) leading the way followed by the Dow (DIA), which was affected by McDonald’s (MCD) finishing down 1.35% after reporting a drop in January sales of 1.8%. Otherwise traders seem focused on the continued fighting between Greece and the Eurozone. Energy was the only sector on the WSC Scoreboard to finish higher but it wasn’t by much and was helped by Oil continuing its recovery. Today’s biggest laggard was HeathCare (XLV) which finished down 1.18% followed by Transportation (IYT) down 0.99% and Utilities (XLU)…
Can EPS decouple market from Oil?
Index & Sector performance 1/12/15 The Market: We noted in the Thursday end-of-day write-up that the strong gains had to do with positive comments from Mario Draghi as well as Oil prices managing to stabilize for the second straight session. Unfortunately after managing to hold in Friday, Oil prices resumed their recent slide today finishing below $46/per barrel. As we have noted in other write-ups and you can see elsewhere, Oil’s sharp decline brings in concern over global growth and particularly U.S. earnings. Speaking of earnings, Aloca (AA) is scheduled to kick off the earnings season tonight and below you…
Slow grind higher continues
Index & Sector performance 12/9/13 The Market: Another slow grinding day with a bias higher. It is yet to be seen if this is a consolidation for a next leg higher or exhaustion with a leg lower to come. To catch the most amount of people off guard the market could look to pop higher first to finish and then start a strong quick decline. There was no economic data today but there was Fed speak from FOMC member Bullard. Bullard was a QE3 supporter and noted his stance that any Fed action is data dependent. The increase in jobs…
Thank you to our Vets!
Index & Sector performance DATE The Market: Any given day stocks will make big moves but today with the bond market closed in observance of Veteran’s Day the broad markets seemed happy to consolidate. Do not be surprised if today’s action is the calm before a strong directional move. Being that today was a Bank Holiday, there was no government economic data announced. We did see the NFIB Small Business Index come in slightly below expectations posting a 91.6 when 93.5 was expected. Story Stocks: Merger Monday as ViroPharma (VPHM) agreed to be acquired by UK drugmaker Shire (SHPG). The…
All quiet before jobs data
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…
Daily Wrap
DJIA +48.92 (+0.32%) to 15,105.12; S&P 500 +6.73 (+0.41%) to 1,632.69; NASDAQ +15.36 (+0.52%) to 2,968.24 The market continues to grind higher during. Today started with a gap lower which like many others in the past was quickly bought up and sent to new highs. There was a brief downdraft late in the day sending the markets back down toward even on the day but yet again the bulls stepped in and not only regained all those late losses but again extended higher into the close. Tomorrow we have Unemployment claims and I show estimates at 333K with a reminder that last week’s number was the…
Analyst Comments
Analyst comments for Monday (11/19/12) See the Upgrades/Downgrades section for complete & cleaner list Upgrades Company Symbol Brokerage Firm Upgraded to: Price Target ($) CSC CSC Deutsche Bank Buy 46 Randgold Resources GOLD RBC Capital Outperform N/A Enerplus Resources ERF RBC Capital Outperform 18 Agnico-Eagle AEM RBC Capital Outperform 69 PetSmart PETM Barclays Overweight 75 Dean Foods DF Goldman Sachs Buy 22 Agilent A Goldman Sachs Buy 59 Bruker BRKR Goldman Sachs Buy 19 Barclays BCS Goldman Sachs Buy N/A Flowers Foods FLO KeyBanc Buy 25 Actuant ATU KeyBanc Buy N/A Provident PFS Sterne Agee Buy 15…