The NightCap
The Market: The market continues to grind higher with the Russell 2000 (IWM) trying to play catch-up of late. Energy (XLE) led all sectors in today’s trading, again, and has been one of the hottest sectors of late although still down nearly -10% YTD. A relatively big data week with ISM Monday, Fed speak & ADP tomorrow, Unemployment Claims Thursday, and official Jobs data on Friday. Traders concerned about the Fed and if we will see a December rate hike should be paying attention to this week’s data. Reported EPS 11/3/15 After the Close: Reporting EPS…
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…
Eurozone helps U.S. go green YTD
Index & Sector performance 1/8/15 The Market: The Dow (DIA), S&P 500 (SPY) and Nasdaq (QQQ) are all green for the year as of today’s close with the Russell 2000 (IWM) lagging down 0.8%. Considering there have only been about 5 trading days in the new year, this is not saying much but the recent 2 day recovery is impressive and reminiscent of what we saw all 2013 and 2014. Helping the U.S. market today was statements from Mario Draghi that the ECB will discuss adding more or new monetary stimulus at their next rate meeting in two weeks. This…
EPS should lead trading
Index & Sector performance 7/21/14 The Market: Slow start to the week saw the S&P futures down over 10 points in early trading only to rally back and finish the day relatively flat on the session. The best performer of the 4 broad indices was the NASDAQ (QQQ) but all-in-all it was a low volume relatively uneventful start to the week. With not much scheduled in terms of Economic data this week (see schedule below), eyes will be firmly fixed on the slew of earnings coming out. Below is the list of confirmed pre-market reports for 7/22/14 and the remainder…