The NightCap
The Market: Overall a dull session as the markets remainder in a tight range for the entire day but we expect to see volatility in many individual names as this will be a very active earnings week with many big names reporting. As always we will highlight the names that reported after the close as well as those scheduled to report pre-market tomorrow but please remember that you can often look ahead a few days under the Events Calendar section. If an active earnings wasn’t enough, we also have an active Economic Calendar with the FOMC Statement and Rate decision…
The Nightcap
The Market: A very strong session which was led by the NASDAQ (QQQ) and Dow (DIA) which the S&P 500 (SPY) not far behind. It was interesting to see the Guggenheim S&P 500 Equal Weight index lag the S&P pointing to the gains being in the higher weighted stocks in the S&P 500 index. Additionally the Russell 2000 (IWM) underperformed posting half the gains of the SPY. In individual sectors the day session was led by the Industrials (XLI) followed closely by the Materials (XLB). Also closing up over 2% on the session was Technology (XLK) and that move looks…
Energy leads while healthcare lags
The Market: Overall a consolidation session in the markets as the Dow (DIA) finished higher while the S&P 500 (SPY), NASDAQ (QQQ), and Russell 2000 (IWM) finished lower . Energy stocks continue to remain in vogue as the XLE finished 2.22% higher on the session and marked the 5th straight day of higher closes. Materials (XLB) was the next closest outperformer finishing up 1.3% and Technology (XLK) was the only other sector to finish up. Lagging in today’s session was HealthCare (XLV) which finished down -2.35% and saw all components finish the day lower except for Mallinckrodt (MNK) and Dentsply…
Market closes highe but no conviction
Index & Sector performance 3/9/15 The Market: Overall it was a quiet session with not much news or Economic data. The market was able to bounce back today after Friday’s strong sell-off led by the Dow (DIA) but volume was on the light side showing that market participants are not necessarily convinced the decline is over. In individual sectors Industrials (XLI) was the clear leader as names like Boeing (BA), 3M (MMM), and Caterpillar (CAT) put in strong sessions finishing up 1.06%, 1.22% and 0.94% respectively. Energy (XLE) was the lone loser on the session finishing -0.72%. One bright spot,…
Weak Data & Earnings help drive stocks lower
Index & Sector performance 1/27/15 The Market: While the Dow (DIA) and S&P 500 (SPY) finished down over 1%, it was the NASDAQ (QQQ) which led the session to the downside finishing 2.59% lower. Microsoft (MSFT) was the biggest drain on the QQQ as it finished down 9.25% after a disappointing EPS report and even managed to pull down Apple (AAPL) which finished 3.5% lower on the session. Things may look a little better for the tech sector tomorrow as AAPL is up after hours after reporting EPS. The Russell 2000 (IWM) managed to be the relative winner finishing down…
Can EPS decouple market from Oil?
Index & Sector performance 1/12/15 The Market: We noted in the Thursday end-of-day write-up that the strong gains had to do with positive comments from Mario Draghi as well as Oil prices managing to stabilize for the second straight session. Unfortunately after managing to hold in Friday, Oil prices resumed their recent slide today finishing below $46/per barrel. As we have noted in other write-ups and you can see elsewhere, Oil’s sharp decline brings in concern over global growth and particularly U.S. earnings. Speaking of earnings, Aloca (AA) is scheduled to kick off the earnings season tonight and below you…
Watch out for traps
Index & Sector performance 12/9/14 The Market: The S&P 500 found itself down over 20 points within the first hour plus of trading as traders pointed to concerns over China and Greece. Throughout the early drop the Russell 2000 (IWM) remained strong down only a fraction of the other indices and then was the first to turn positive on the day. The IWM’s resilience continued throughout the remainder of the trading session and finished the clear leader. Today’s action certainly feels like another Bear trap where the market looks as though it is about to start a major prolonged slide…
Tech and HealthCare EPS lead
Index & Sector performance 7/23/14 The Market: Today the stand out index was the NASDAQ (QQQ) which finished 0.64% higher with a lot of help from Apple (AAPL) which finished the day up 2.61% after reporting EPS yesterday after the close. The S&P 500 (SPY) and Russell 2000 (IWM) were relatively flat, while the Dow (DIA) was the clear laggard and the only index to finish down on the session. Weighing on the Dow was Boeing (BA) and Caterpillar (CAT) which finished down 2.34% and 1.53% respectively. In individual sectors it was HealthCare (XLV) which shined helped immensely by Intuitive…