November 24, 2017

Early dip is bought, finishes flat

Daily-Wrap

The Market: Overall a quiet day in the markets following yesterday’s FOMC statement as an early dip in the S&P 500 found buyers and the index finished flat on the session while the NASDAQ (QQQ) led. The S&P 500 looks to need at least a short term pullback to regroup before any longer term move higher but we will be interested to watch that first pullback as we are from from believing the coast is all clear and that the market is off to new highs. In individual sections, Utilities (XLU) led finishing up 0.74% on the session followed by…

Market shakes off Greece

Daily-Wrap

Index & Sector performance 2/5/15 The Market: Sorry, no comments at this time but please check back later.     Reporting EPS 2/5/15 After the Close:   Reporting EPS 2/6/15 Pre-Market: Analyst Comments:

Eurozone helps U.S. go green YTD

Daily-Wrap

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…

Oil trades below $50 & leads market lower

Daily-Wrap

Index & Sector performance 1/5/15 The Market: The market was again led by Oil’s decline as we closed below $50 per barrel for the first time since 2009.  In the Analyst Comments below you will see a downgrade for Caterpillar (CAT) by JP Morgan.  In the note the analyst commented that up to 30% of CAT’s revenue could be under pressure due to lower oil prices.  Similarly, Evercore downgraded Terex (TEX) to Hold with an $26 target and United Rentals (URI) to Sell with a $87 target citing concerns that oil’s sharp decline will hurt energy investments and thus construction…

S&P follows crude lower yet again

Daily-Wrap

Index & Sector performance 12/15/14 The Market: Crude oil started to rebound in Sunday’s overnight session and helped the major indices start the day with a gap higher but the optimism was short lived.  Oil quickly started to lose ground after the open and reached fresh 52 week lows by noon taking the S&P with it.  Both indices found a midday bottom but only the S&P was able to close above those lows. We are interested to see if there is follow-through on the downside tomorrow in the S&P and if so we suggest traders remaining open to the possibility…

Overnight loses quicky negated

Daily-Wrap

Index & Sector performance 10/30/14 The Market: In the overnight session the S&P 500 futures lost roughly 20 points and it appeared to be signaling for a rough Thursday but then recouped nearly all the loses by the open and managed to rally for the majority of the day.  All 4 indices from the WSC Scoreboard finished higher with the Dow (DIA) leading the charge helped immensely by Visa (V) which finished the session up 10.24% after reporting better than expected EPS and a new $5B Share Repurchase program yesterday after the close. In Individual sectors the clear standout was…