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…
Waiting on Washington
Index & Sector performance 9/30/13 The Market: The lack of a deal from Washington on the impending government shutdown seemed to eight on trader’s mind. While the S&P was able to rally after a gap down in early trading, the rally was short lived and around 1:30 pm EST the market again lost ground although was able to remain above the early morning lows In economic data we had Chicago PMI which came in slight better than expected with a 55.7 reading when 54.5 was expected. Tomorrow we have Final Manufacturing PMI, ISM, Construction spending and Total Vehicle Sales. In…
Daily Wrap
DJIA +48.92 (+0.32%) to 15,105.12; S&P 500 +6.73 (+0.41%) to 1,632.69; NASDAQ +15.36 (+0.52%) to 2,968.24 The market continues to grind higher during. Today started with a gap lower which like many others in the past was quickly bought up and sent to new highs. There was a brief downdraft late in the day sending the markets back down toward even on the day but yet again the bulls stepped in and not only regained all those late losses but again extended higher into the close. Tomorrow we have Unemployment claims and I show estimates at 333K with a reminder that last week’s number was the…
Daily Wrap
DJIA +99.22 (+0.71%) to 13,979.30; S&P 500 +15.58 (+1.04%) to 1,511.29; NASDAQ +40.41 (+1.29%) to 3,171.58 I did not expect today to be as strong as it ended up being. I thought yesterday’s move might be the start of a more prolonged pullback/consolidation that would then give us a new platform to rally from but today’s rally essentially gained back all of yesterday’s losses. I still do feel this action is part of a topping process but clearly the market’s won’t go without a fight. Also with this week being a low data week, earnings will likely be a driving…
Analyst Comments
Analyst comments for Monday (11/19/12) See the Upgrades/Downgrades section for complete & cleaner list Upgrades Company Symbol Brokerage Firm Upgraded to: Price Target ($) CSC CSC Deutsche Bank Buy 46 Randgold Resources GOLD RBC Capital Outperform N/A Enerplus Resources ERF RBC Capital Outperform 18 Agnico-Eagle AEM RBC Capital Outperform 69 PetSmart PETM Barclays Overweight 75 Dean Foods DF Goldman Sachs Buy 22 Agilent A Goldman Sachs Buy 59 Bruker BRKR Goldman Sachs Buy 19 Barclays BCS Goldman Sachs Buy N/A Flowers Foods FLO KeyBanc Buy 25 Actuant ATU KeyBanc Buy N/A Provident PFS Sterne Agee Buy 15…