Daily Wrap
DJIA +60.44 (+0.40%) to 15,275.69; S&P 500 +8.44 (+0.51%) to 1,658.78; NASDAQ +6.57 (+0.22%) to 3,002.62 A very choppy yet still strong day to follow-up on Tuesday’s rip higher. Today initially open lowered but by 11am EST was back to flat and then took off at what felt like an unabated rally which fell just shy of $1660 in the S&P 500 cash index. The market then swooned almost back to even and finally finished up 8 points and only roughly 3 from the high. There was a decent amount of economic data today and it was interestingly mixed but what will be watched for the…
Daily Wrap
DJIA -43.16 (-0.29%) to 14,676.30; S&P 500 +0.01 (+0.00%) to 1,578.79; NASDAQ -1.25 (-0.04%) to 2,834.12 Today was a consolidation day after yesterday’s strong move. The action was general bouncing back and forth all day with not much to report except there was a late day rally which took the S&P to new highs for the day until roughly 3pm EST when it turned and sold off into the close. In economic data the only real surprise was US Durable Goods orders which came in much lower than expected with a -5.7% number when I had consensus estimates at a -2.9%. Tomorrow we…
Daily Wrap
DJIA +7.22 (+0.05%) to 13,986.52; S&P 500 +0.83 (+0.05%) to 1,512.12; NASDAQ -3.10 (-0.10%) to 3,168.48 Today was a sloppy up day that saw the S&P 500 spend the majority of the day down except for a midday and then end of day rally which equate to less than a 1 point gain. I noted last night that this week does not have much in the way of planned economic data or events and therefore it is likely that the headlines will be focused on the earnings being announced. Today seems to be an example of how there just didn’t…