August 23, 2017

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…

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…

Utilities big loser ahead of Jobs data

Daily-Wrap

Index & Sector performance 7/2/14 The Market: The WSC Scoreboard was relatively flat to mixed with the Dow (DIA), S&P 500 (SPY), and NASDAQ (QQQ) closing slightly higher while the Russell 2000 (IWM) finished 0.35% lower. In individual sectors, the Utilities (XLU) stood out as the biggest loser finishing 1.99% lower on the day and appears vulnerable to even more downside action after being the leader so far in 2014.  Every stock in the XLU finished down on the day with some finishing down over 3% including Exelon (EXC), FirstEnergy (FE), and Entergy (ETR) down 3.11%, 3.50%, and 3.25% respectively. …

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…

4 days down and counting…..

Daily-Wrap

Index & Sector performance 9/24/13 The Market: The S&P 500 came into the day trying to snap a 3 day losing streak with even the smallest of gains but was unable to and after spending some time in positive territory, eventually lost ground and closed down for the 4th day in a row. In economic news the Case Shiller Index showed prices come in at the expected 12.4% increase year over year and slightly above expectations with a 1% month over month reading.  Richmond Manufacturing was well below expectations but generally not considered significant to the market and Consumer Confidence…