Small gains break 5 day slide
Index & Sector performance 9/26/13 The Market: An early push higher on the S&P 500 was short lived and topped around 10 am EST falling all the way back to the open and even drifting into negative territory. The market then bounced, failed and after retesting the days lows used the last hour to rally into the close. In economic news the Unemployment Claims data came in better than expected posting a 305K number when expectations were of 319K. Unfortunately the remainder of the news was not as good with GDP coming in below expectations printing a 2.5% number when…
Week in Review
DJIA +35.87 (+0.24%) to 15,118.49; S&P 500 +7.03 (+0.43%) to 1,633.70; NASDAQ +19.90 (+0.67%) to 2,981.02 Friday was a very choppy trading session which sent the index bouncing around and when it looked like it could possible be setting up for a late day sell-off ended up instead closing near highs for the day. In economic news the calendar was light but had a great deal of Fed speak throughout the day including Chairman Bernanke right near the open. The Dell (DELL) going private saga continued where two large DELL investors, Carl Icahn and Southeastern Asset Management, advised that they will not be voting for Michael…
Daily Wrap
DJIA -22.50 (-0.15%) to 15,082.62; S&P 500 -6.02 (-0.37%) to 1,626.67; NASDAQ -7.12 (-0.24%) to 2,961.12 The markets got started with another better than expected Unemployment claims number that came in at 323K, 10K below the consensus estimates and 1K lower than the previous month’s number. If I remember correctly, that previous number was the lowest print in many years and one week later was taken out. Otherwise the action was choppy and initially we rallied off the better than expected data until topping just before 10am EST and then moving lower to 10:30am. After ultimately finding a bottom the market floundered unjust before 1pm when…