The NightCap
The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting. As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…
Russell 2000 lags all other Indices
The Market: The Russell 2000 (IWM) was the only index on the WSC Scoreboard to finish lower on the session which was led by the Dow (DIA). Most of the indices on the WSC Scoreboard finished the session higher but HeathCare (XLV) was hit hard finishing –1.33% lower. XLV remains only one of two sectors still up YTD but was hurt today by comments from Presidential candidate Hillary Clinton who, after a privately held company, Turing Pharmaceuticals, announced a 5,000% price increase in its treatment for toxoplasmosis, called specialty drug prices “outrageous” and vowed to lay out a plan to…
Oil gets crushes while market dips
The Market: A small down day which could have looked worse if not for a late day rally off the lows. Interesting to see the leaders to the downside were the Dow (DIA) and Russell 2000 (IWM). We were looking for the market to close just off the lows and then gap down tomorrow for a short-term long opportunity but today’s end of day rally has changed that set-up. Overall we remain cautious on the broad market and believe the choppy trading of late will continue. Energy (XLE) led to the downside, again, as crude oil continues to slide reaching…
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:
Market finishes near lows
Index & Sector performance 5/26/15 The Market: A strong down day for the market which saw all the major market indices on the WSC Scoreboard finish down over 1% on the session near the lows for the day. The futures are up in the after hours session but they will have to prove that this is not just a relief bounce. Utilities (XLU), Consumer Discretionary (XLY), and Consumer Staples (XLP) were the relative out-performers finishing down 0.63%, 0.75%, and 0.79% respectively. After reaching a high of $62.58 on 5/6/15, Crude Oil is back below $60/barrel after losing 3% in today’s…
Small Caps lag as market rallies
Index & Sector performance 3/16/15 The Market: A strong performance day as the S&P 500 (SPY), Dow (DIA), and NASDAQ (QQQ) finished up over 1% while the Russell 2000 (IWM) was the laggard finishing up 0.60%. One of the positive noted on this recent decline in the broad markets was the resilience of the IWM which is close to a new all-time high. Today could just be the other broad indices catching up to the already outperforming IWM but we cannot help but feel as though today was a perfect set-up for the IWM to lead all names higher and…
QQQ & IWM reach new highs
Index & Sector performance 2/26/15 The Market: More churn today in the markets but again the NASDAQ (QQQ) and Russell 2000 (IWM) showed more strength than the S&P 500 (SPY) with the QQQ and IWM reaching new 52-week closing highs on the session. Crude oil lost over 5% today which helped send the Energy (XLE) sector 1.88% lower. We noted in our 2/18/15 nightly recap when the XLE was trading above $81 that we would look for a pullback toward $78 as a buying opportunity. Closing today at $79.35, we would ideally like to see lower levels before dipping into…
Week starts slow – GS grounds BA
Index & Sector performance 2/23/15 The Market: Overall a flat session with the NASDAQ (QQQ) and Russell 2000 (IWM) finishing slightly higher while the Dow (DIA) and S&P 500 (SPY) finished lower. The main drag on the DIA today was Boeing (BA) which finished down 2.26% after Goldman downgraded the name to Sell with a $132 price target. In individual sectors it was a mixed bag with the Industrials (XLI) leading to the downside finishing down 0.43% while the Utilities (XLU) led to the upside finishing up 0.68%. As we posted tonight in the Charts section, the XLU held a…
Market continues to grind
Index & Sector performance 2/19/15 The Market: The slow grind into options expiration continues with the S&P 500 (SPY) and Dow (DIA) finishing slightly lower while the Russell 2000 (IWM) finished slightly higher and the NASDAQ (QQQ) led. We would expect to potentially see volatility tomorrow not only due to options expiration but also potential headline risk out of Europe. Overall a mixed session as yesterday’s sector leader to the upside, the Utilities (XLU), was today’s downside leader finishing 1/13% lower while Technology (XLK) followed closely by Consumer Discretionary (XLY) led to the upside. With only Flash Manufacturing PMI tomorrow,…