Market rollercoaster continues
Index & Sector performance 4/1/15 The Market: For those who do not track the futures you would think that today started off with a small gap that then snowballed into something much larger but the first shot lower was actually yesterday evening when the S&P futures dropped nearly 30 points in roughly an hour. Amazingly the index recouped nearly all the losses by the open but then started to make its way back toward those overnight lows which is the action we saw today. Monday’s Wrap noted that we were looking for a pullback in the markets and that the…
Flat session with no catalysts
Index & Sector performance 3/23/15 The Market: A flat start to the week as the market appeared happy to meander without a strong catalyst to tip the balance one way or the other. In an otherwise boring tape, the Transportation Index (IYT) is worth noting as it closed down 1.83%. Most of the big names in the index were lower but Kansas City Southern (KSU) was the clear leader to the downside finishing 7.96% lower on the session after announcing reduced FY15 revenue guidance. Existing Home Sales came in weaker than expected and we will be watching to see if…
BIIB helps XLV finish up over 26% YTD
Index & Sector performance 12/2/14 The Market: It was a solid session following Monday’s drop with the Russell 2000 (IWM) clearly leading and with advancers leading decliners by roughly 2:1. In Individual sectors it was Transportation (IYT) leading up 1.18% followed closely by Energy (XLE), which is still trying to recover from Friday’s big gap down, up 1.16%, and lastly HealthCare (XLV) which finished 1.12% higher and is now up over 26% year-to-date. Helping the XLV today was Biogen Idec (BIIB) which gained 6.43% on positive results from an early-stage Alzheimer’s drug trial. BIIB is a name to watch. Above…