December 16, 2018

Merger Monday doesn’t help market

Index & Sector performance 11/17/14 The Market: Despite a very active M&A session, it was yet another very tight trading range in the S&P 500 while the NASDAQ (QQQ) lagged and the Russell 2000 (IWM) led to the downside. In deals we saw Allergan (AGN) agree to be acquired by Actavis (ACT) for a combination of cash and ACT stock which totaled $219 per share.  Valeant Pharmaceuticals (VRX) who had also been trying to buy AGN stepped aside not feeling comfortable they could justify the valuation to shareholders.  Two more big names in M&A news as Halliburton (HAL) announced it…

Market continues higher on low volume

Index & Sector performance 8/13/14 The Market: Monday was a solid up day to follow-up on Friday’s move but one concerning aspect was how the indices finished noticeably off the intraday highs.  That trend continued taking the indices lower in Tuesday’s session but the losses were contained and today it was back up as all 4 indices on the WSC Scoreboard finished higher with the NASDAQ (QQQ) leading the charge. In individual sectors there were three standouts with HealthCare (XLV) the biggest winner finishing the day up 1.21% followed by a tie for second with both the Industrials (XLI) and…

Utilities big loser ahead of Jobs data

Index & Sector performance 7/2/14 The Market: The WSC Scoreboard was relatively flat to mixed with the Dow (DIA), S&P 500 (SPY), and NASDAQ (QQQ) closing slightly higher while the Russell 2000 (IWM) finished 0.35% lower. In individual sectors, the Utilities (XLU) stood out as the biggest loser finishing 1.99% lower on the day and appears vulnerable to even more downside action after being the leader so far in 2014.  Every stock in the XLU finished down on the day with some finishing down over 3% including Exelon (EXC), FirstEnergy (FE), and Entergy (ETR) down 3.11%, 3.50%, and 3.25% respectively. …

Retail sales beat, Unemployment drags

Index & Sector performance 12/12/13 The Market: The market continued picked up where it left losing more ground but not as dramatic as the 1% down yesterday.  The majority of the losses where in the beginning part of the day with the market making the lows for the day around 12:30 pm EST and starting to rally.  That rally halted around 3pm EST and the market used the last hour to sell off not quite making it back to the midday lows. In economic data, Retail Sales number beat expectations and with Core Sales doubling expectations posting a 0.4% and…