Market continues to rebound
The Market: Stocks continue to chug along after last week’s impressive reversal on Wednesday. Today was another turn around session which saw the S&P 500 gap down roughly 12 points before firming up in very early trading and then rallying the rest of the session to finish up over 9 points. Above 2080 in the S&P 500 and it looks like the good times can continue. HealthCare (XLV) was the leader in individual sectors finishing up 1.01% followed closely by Consumer Discretionary (XLY) which closed up 0.96%. Today’s underperformer was Consumer Staples (XLP) which finished flat on the session hurt…
Will the recent Volatility continue?
The Market: No comments tonight except to say that, after a volatile beginning, the market quieted down and consolidated to finish the week but we do not think the violent swings are over and expect more volatility next week. Hope you all have a wonderful weekend! Reporting EPS 8/17/15 After the Close: Reporting EPS 8/17/15 Pre-Market: The only name we are currently tracking is The Estee Lauder Companies (EL) with an estimate of $0.34. Analyst Comments:
Stocks recover after early slide
Index & Sector performance 3/26/15 The Market: Today’s session started of much worse than it ended with the futures losing ground in the overnight and early session causing a gap down which continued lower in early trading but manged to recover and stage a midday rally which even saw all 4 broad indices spend time up on the day. In global news, traders were focused on Saudi Arabia’s bombing of Yemen which helped Crude Oil traded over $51 u more than 3% on the session. We would not be signaling that the coast is clear yet and see risk in…
Argentina default rattles global markets
Index & Sector performance 7/31/14 The Market: A sea of red today on the WSC Scoreboard with all 4 major indices closing strongly lower led by the Russell 2000 (IWM). Major media outlets pointed to weakness overnight in International markets caused by Argentina’s default. Looking at the technicals, the S&P 500 (SPY) and the Dow (DIA) both clearly lost their 50 day moving averages on a closing basis and did so on an increase in volume. The NASDAQ (QQQ), which has been this year’s strongest performer, is still a few percent above the 50’s while the Russell 2000 (IWM) has…
Market digests yesterday’s move
Index & Sector performance 3/27/14 The Market: In Economic news, Unemployment Claims came in at 311K which is better than the 326K estimate. GDP came in a hair light at 2.6% vs 2.7% est. and Pending Home Sales missed big posting a -0.8% vs a 0.1% est. while the previous number was revised lower. Tomorrow’s data is not as critical as today’s but we do have multiple events including Consumer Confidence. In early trading the emini reached 1835ES and twice found support there before managing to rally roughly 9 points off the lows to the close. All in all it…
Market follows up gap with more gains
Index & Sector performance 9/17/13 The Market: The majority of today’s action was in the first half hour of trading when the S&P gaped slightly higher and then ran up seeing the majority of the days gains. The remainder of the day the market was able to hold those gains and drift higher on what looked to be an overall light volume day. In economic news, Core CPI came in as expected while headline CPI was actually less than expected with a 0.1% increase when 0.2% was expected. Remember headline reflects food and energy while core strips it out. Tomorrow…