November 17, 2018

Earnings should take center stage

The Market: Not much movement in today’s action as we saw a drop in volume across all the major Indices.  The overnight session saw futures move lower which seemed primarily due to some exhaustion in the markets but not helping was China’s GDP numbers which met expectations but slowed compared to the prior quarter.  With this being a light Economic Data week, we expect focus to be on individual stocks as they report earnings.  Below is a list of names that reported tonight after the close and that will report tomorrow with even more listed in the Events Calendar. In…

Huge intraday swings

The Market: As expected, volatility continues and while we would not expect 100 point S&P days to become a common occurrence we do expect to see sharp swings both up and down. Our current expectation is that the market will ultimately revisit this morning’s lows is not make new lows but in the short-term the market is very oversold and should stage some sort of rally — not just intraday like today but on a closing basis over a few days.  That rally will be very telling and if weak we could be setting up for much much lower and…

Strong start to the week led by Tech

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

Fed gains quickly given back

Index & Sector performance 10/9/14 The Market: All the gains saw from yesterday’s Fed driven rally were taken back in today’s trading with the Dow (DIA) and S&P 500 (SPY) closing down nearly 2% while the Russell 2000 (IWM) lost 2.7%.  The NASDAQ (QQQ) was helped by Apple (APPL) which managed to post a small gain of 0.22% on the session but the QQQ’s still finsihed 1.62% lower. Some big numbers put up across the sectors led by Energy (XLE) which finished down 3.67% and is now over 4% lower on the year.  The XLE underperforming is not new but…

Daily Wrap

DJIA +75.65 (+0.50%) to 15,300.34;S&P 500 +11.86 (+0.72%) to 1,652.32;NASDAQ +19.43 (+0.56%) to 3,504.26 Some don’t think it is the right way to start the season but Alcoa ( AA ) still is known for kicking off earnings and this much maligned stock and company.  AA reported EPS that beat analysts expectations (7c vs 6c) on just slightly lower than expected revenue ($5.8B vs $5.83B).  After reporting last night, AA closed almost exactly flat today but considering AA recently bounced I would say it held the recent move.  Is the bottom in AA in?  It could be.  Everyone that has thought that…

Daily Wrap

DJIA -23.66 (-0.17%) to 13,511.23; S&P 500 +0.29 (+0.02%) to 1,472.63; NASDAQ +6.76 (+0.22%) to 3,117.54 Again we have another day where the markets were somewhat mixed but overall were overall boring.  Opening roughly 4 points lower the S&P rallied to close slightly positive.  Today we had the Fed Beige Book but obviously there was nothing ground breaking to the markets and now focus will switch to tomorrow’s jobs data.  Last week saw a slight uptick in claims to 371K and this week’s expectation is roughly the same at 369K. Boeing (BA) closed down over 3% today and the news does not look promising.  Following a…