Daily Wrap
DJIA +14.75 (+0.11%) to 13,169.88; S&P 500 +0.48 (+0.03%) to 1,418.55; NASDAQ +8.92 (+0.30%) to 2,986.96; During last night’s trading and early in the morning Monday we saw the S&P 500 futures treading lower, finally bottoming at 1410.75 around 6am EST and then steadily rally throughout the remainder of the morning to 1421 at 11am EST. The remainder of the day was somewhat choppy and the focus was on Italy. News of Prime Minster Mario Monti’s intentions to resign sent bond yields spiking and the markets dipping as the feeling was of somewhat shock/surprise and again another scenario of uncertainty and we see…
Week in Review
DJIA +172.79 (+1.35%) to 13,009.68 S&P 500 +18.12 (+1.30%) to 1,409.15 NASDAQ +40.30 (+1.38%) to 2,966.85 This has been the standard holiday trading that we have been highlighting. Lower volumes and a drift higher. The recent lows have provided a nice trade and today was more than just an up day with the S&P gapping higher and continuing all, albeit a half, day. It is very difficult to get bearish during a week like this and in the face of moves like this and rightfully so but today, as we were noting on Stock Twits (WSConsensus), is the kind of day you want to be…
Analyst Comments
Analyst comments for Wednesday (11/21/12) See the Upgrades/Downgrades section for complete list Upgrades: LUKOY, THOR, GLRE, WBS, SKX, NRGY, PENN, FRC, FMER, Downgrades: KPLUF, STJ, HTWR, EV, AMX, HPQ, CBSH, NRGM, HRL, HTWR,
Daily Wrap
DJIA -7.45 (-0.06%) 12,788.51 S&P 500 +0.92 (+0.07%) 1,387.81 NASDAQ +0.61 (+0.02%) 2,916.68 Yesterday we said it was a classic “Gap and Go” day and today was a classic consolidation day after a big move. We did see a pretty decent drop intraday on comments from Ben Bernanke noting that the Fed does not have the tools to counter act the fiscal cliff but those losses were quickly recouped and the S&P was able to close moderately higher along with the Nasdaq and the Dow not too far behind. Two stocks in the News today moving in the same direction…