July 22, 2018

The NightCap

The Market: We expected to see a tight trading range until the FOMC statement but instead we saw buyers in advance of the statement as the S&P 500 (SPY) pressed higher.  The the announcement came and there was a sharp sell-off but buyers came right back and all 4 major market indices on the WSC Scoreboard finished above the pre-FOMC announcement highs. As was expected by many, the FOMC left the Fed Fund Rates unchanged but, based on the comments, it appears a rate hike is on the table for December if the data warrants.  We also saw the committee…

Merger denied, collaboration approved

Index & Sector performance 7/16/14 The Market: A small up session in the market was helped by solid earnings reports in the morning and a potential huge media merger between Time Warner (TWX) and Twenty First Century Fox (FOXA).  FOXA offered $85/share but were turned down by TWZ.  This sent shares of TWX screaming higher finishing the day up 17.07% as traders reevaluated TWX’s worth and also speculated on increased offers.  In other corporate news, Apple (AAPL) announced they will be teaming up with IBM (IBM) to provide business mobile solutions.  BlackBerry (BBRY) was negatively affected by the news finishing…

Strong start with new highs

Index & Sector performance 5/12/14 The Market: A strong start to the week as a broad based rally in the market was led by the Russell 2000 (IWM) up 2.27% and the NASDAQ 100 (QQQ) up 1.65% while the Dow and S&P reached new closing highs.  The two stand out sectors were Retail (XRT) and the Transportation (IYT) while the Utilities (XLU) lagged closing down 0.92% but remain the largest gainer YTD. We have much more economic data this week and tomorrow all eyes will be on Retail Sales which is released before the open.  Headline sales are expected up…