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…
Financial earnings remain focus for week
Index & Sector performance 7/14/14 The Market: All four major indices on the WSC Scoreboard finished equally higher in today’s action. We continue to be most interested in the Russell 2000 (IWM) and the fact that the Small Caps are not enjoying as solid of a year as the other major indices. We ultimately believe for further gains the small caps need to be involved. In individual sectors the WSC Scoreboard was led by Energy (XLE) which finished up 0.87%. Also finishing higher on the WSC Scoreboard was the Financials (XLF) which saw Citigroup (C) beat earnings this morning and…
FOMC minutes ease market concerns
Index & Sector performance 4/9/14 The Market: After bottoming and bouncing in yesterday’s session, the S&P 500 futures spend the majority of the overnight session consolidating in a tight range. This lead to an early breakout, retest, and continuation higher but it was after the FOMC minutes were released at 2pm ET when the strongest gains were realized. Concern the Fed would be aggressive with rate hikes subsided and traders rewarded the market with 1+% gains across the board with the Nasdaq leading the charge up 1.7%. Next on the economic data schedule is Unemployment Claims which are released at…
Strong sell off starts week
Index & Sector performance 2/3/14 The Market: In the News: The following noteworthy companies are scheduled to report earnings before tomorrow’s open: EMR, ETN, ADM, CME, SE, HCA, SIRI, IP, BDX, MHFI, DLPH, BSX, KORS, FIS, CLX, AMG, SEP Analyst Comments: The Game Plan:
China fears helped send market lower
Index & Sector performance 10/23/13 The Market: Today was a gap own and meander day where the majority f the losses were seen in very early trading and the rest of the day was mostly choppy. News attributed the drop to tightening fears out of China which sent international markets lower but as we have discussed here the market seemed ripe for a pullback. More lower.. In economic data there was not too much today with import prices coming in roughly as expected while the Home Price Index was well below expectations (0.3% vs 0.8%) . Yesterday we had the…
S&P 500 narrowly escapes with a gain
Index & Sector performance 10/9/13 The Market: Rumors out of Washington have helped drive the indices of late as investors are looking for more information regarding the government shutdown as well as who may be replacing Ben Bernanke. News today broke that Janet Yellen will be the next Federal Reserve chairperson taking the place of Ben Bernanke at the end of January 2014. Initial opinions seemed to be that Yellen will continue on with a more dovish stance for the Fed. Today looked as though the market could not gain traction but at 11:30 am EST the market bottomed and…
Daily Wrap
DJIA –138.85 (-0.94%) to 14,700.95; S&P 500 -14.87 (-0.93%) to 1,582.70; NASDAQ -14.09 (-0.49%) to 2,873.35 Mixed economic data including a bad ADP and construction spending number as well as poor economic data out of China helped send the major indices lower on the open. After midday, the Fed helped spark a small rally after reiterating their stance to be accommodative and even mentioned they will increase or decrease the pace of purchases in the future as necessary but this only provided a brief recovers and the market proceeded to sell off into the close. In economic news today the calendar was pretty full and started…
Daily Wrap
DJIA –14.05 (-0.10%) to 13,881.93; S&P 500 -2.78 (-0.18%) to 1,500.18; NASDAQ +4.59 (+0.15%) to 3,154.30 I had to blink twice and rub my eyes but it was true that the S&P 500 closed lower. The Dow followed suit but AAPL finally having an up day helped the Nasdaq manage to eek out a small gain. Now before we get crazy, this was a near 3 point down day on the S&P after 8 straight days of moving higher. I have been looking for some consolidating which really hasn’t come to fruition. Any pullbacks still look to be greater opportunities…