March 22, 2018

The NightCap


The Market: Overall it was another tight trading range session but the Russell 2000 (IWM) continued its underperformance and finished down over -1%.  It appears that traders may be on hold until the FOMC statement and rate decision tomorrow. Transportation (IYT) sector was the hardest hit on the WSC Scoreboard as the sector ETF finished down -2.65% followed by yesterday’s biggest loser, Energy (XLE), which closed down -1.2%.  The biggest gaining sector on the session was HealthCare (XLV) which finished up 1.84% and was helped by Allergan (AGN), Biogen Inc (BIIB), Vertex Pharmaceuticals Inc (VRTX), and Mylan NV (MYL) which all…

Daily Wrap


DJIA +21.73 (+0.14%) to 15,324.53;S&P 500 +6.05 (+0.37%) to 1,654.41;NASDAQ +17.01 (+0.57%) to 3,011.83 After the Unemployment claims number came in slightly higher than expected the futures started to sell off in the pre-market but that soon turned and by the open we were slightly positive and then rallied higher for the remainder of the day until roughly 2:30 pm EST when the highs were seen and we drifted lower into the close.  As noted in economic news Unemployment claims rose to $354K and 1st quarter GDP slightly disappointed with a 2.4% reading down from 2.5%. Dow member Disney (DIS) was in the news after the…