Early dip met with strong buying
Index & Sector performance 2/13/14 The Market: The markets began to dip overnight and into early morning trading. Weaker than expected economic data didn’t help but just as the market officially opened the bottom was put in and the S&P 500 spent the remainder of the day rallying only taking a short midday break before continuing on to made the highs of the day near the close. The following noteworthy companies are scheduled to report earnings before tomorrow’s open: ALE, BAM, COTY, CPB, DTE, H, IPG, IPGP, ITT, JMP, LECO, LPNT, MINI, POR, RRGB, SJM, SNI, TRW, VFC, VTR,…
Fed day snaps S&P 4 day win streak
Index & Sector performance 10/30/13 The Market: A small gap up on the open was quickly sold and the market pulled back but losses were relatively contained until the Fed announcement which sent the S&P spiking lower. Buyers did then step in and used the last hour of trading to help close the index off the lows but not enough to keep from snapping the S&P 500’s 4 day win streak. In economic news, ADP Non-Farm came in lower than expected printing a 130K with 151K the expectation. Core CPI was also light coming in at 0.1% when 0.2% was…
All quiet before jobs data
Index & Sector performance 10/21/13 The Market: Not too much to report as it was a quiet down day in the S&P 500 and Dow with the Nasdaq making small gains much on the back of a strong performance from Apple (AAPL) closing up nearly 2.5% on the day. In economic news we had Existing Home Sales with came in light posting a 5.29M when 5.31M was expected. Tomorrow will be a much bigger day as we get the jobs report that was delayed due to the government shutdown. Current forecast is for 182K and Unemployment rate of 7.3% Story…
S&P 500 narrowly escapes with a gain
Index & Sector performance 10/9/13 The Market: Rumors out of Washington have helped drive the indices of late as investors are looking for more information regarding the government shutdown as well as who may be replacing Ben Bernanke. News today broke that Janet Yellen will be the next Federal Reserve chairperson taking the place of Ben Bernanke at the end of January 2014. Initial opinions seemed to be that Yellen will continue on with a more dovish stance for the Fed. Today looked as though the market could not gain traction but at 11:30 am EST the market bottomed and…
US Government shuts down and gains open up
Index & Sector performance 10/01/13 The Market: The old market adage Buy the rumor and Sell the news is somewhat in affect here today with the markets reaction to the Government shutdown. As we noted in last night’s Game Plan, with the realization of the shutdown now in affect and the worry of the shutdown gone, short term longs would look for opportunity to trade a bounce. A gap up was quickly consolidated after roughly 30 minutes of trading and then pressed higher until 12:30 pm EST. After 12:30 there was a roll over which took the index down until…
Small gains break 5 day slide
Index & Sector performance 9/26/13 The Market: An early push higher on the S&P 500 was short lived and topped around 10 am EST falling all the way back to the open and even drifting into negative territory. The market then bounced, failed and after retesting the days lows used the last hour to rally into the close. In economic news the Unemployment Claims data came in better than expected posting a 305K number when expectations were of 319K. Unfortunately the remainder of the news was not as good with GDP coming in below expectations printing a 2.5% number when…
4 days down and counting…..
Index & Sector performance 9/24/13 The Market: The S&P 500 came into the day trying to snap a 3 day losing streak with even the smallest of gains but was unable to and after spending some time in positive territory, eventually lost ground and closed down for the 4th day in a row. In economic news the Case Shiller Index showed prices come in at the expected 12.4% increase year over year and slightly above expectations with a 1% month over month reading. Richmond Manufacturing was well below expectations but generally not considered significant to the market and Consumer Confidence…
AAPL outshines BBRY buyout
Index & Sector performance 9/23/13 The Market: The market picked up early Monday where it left off Friday gaping lower on the open and continuing lower until roughly 11:30 am EST when the S&P 500 was able to bottom and turn with unfortunately what seems to be not much support or enthusiasm from traders. From the WSC Scoreboard, the largest drag on the Market today was the Financials (XLF) and leading them down was Regions Financial (RF) which closed down 2.27%. RF closed right at the 150 day SMA and if it cannot find support there the upward sloping 200…
Week in Review
DJIA +90.54 (+0.63%) to 14,512.03; S&P 500 +11.09 (+0.72%) to 1,556.89; NASDAQ +22.40 (+0.70%) to 3,245.00 As some pessimism laid way to optimism regarding the Cyprus situation and at least got our of the market’s way to press higher near 1% for the day. What was also positive to see was the line-up with the S&P 500 and Nasdaq leading instead of the Dow (broader based rally). The stock of the day was no doubt Nike (NKE) in my opinion. Thursday evening after the close NKE posted Q3 EPS of 73c vs estimates of 67c on revenue that met expectations of $6.2B. The company…
Analyst Comments
If you see a symbol that interests you in this list then make sure to check out the Upgrades/Downgrades section for the complete list and details! Upgrades: NKE, IVNYY, GES, IACI, RIMM, KMX, PLT, PNR, AIV, CPT, AVB Downgrades: CREE, TASR, TKR, COL, INGR, ATVI