Weak ADP data helps market gap
The Market: The market gapped and continued higher for the first hour of trading which the news attributed to a weak ADP number which could keep the Fed from raising interest rates anytime soon. After the first hour of trading the major indices began to lose ground and, while they all finished up on the day, they were all also well off their highs. Leading on the WSC Scoreboard was Retail (XRT) which was the only sector to finish up by over 1% followed closely by Technology (XLK) which closed up 0.97%. The only two losing sectors on the day…
Tight trading ends with pop higher
Index & Sector performance 11/18/14 The Market: After multiple sessions trading in a tight range the broad indices broke-out to new highs. It is worth noting that volume was again light but that has been the case throughout much of this recent rally after the mid October bottom. In the after hours session the futures started to give back some of today’s gains so we will be looking to see if today was a false breakout which gives way to a pullback or if the indices can hold. In individual sectors, HealthCare (XLV) led finishing 1.61% higher helped by strong…
Intraday swing leave only small gains
Index & Sector performance 4/28/14 The Market: After moving slightly higher in the overnight and early trading, the S&P 500 quickly dropped in the midday session before finding a bottom around 1:30 pm ET. While the S&P fell a few points short of making it back to the earlier intraday highs, it did manage to post a small gain on the day. The Dow led the major indices helped by a 4.2% gain from Pfizer (PFE) while the Russell 2000 closed slightly down on the day. Many big name stocks in the news including the aforementioned Pfizer (PFE) who…
Daily Wrap
DJIA +75.65 (+0.50%) to 15,300.34;S&P 500 +11.86 (+0.72%) to 1,652.32;NASDAQ +19.43 (+0.56%) to 3,504.26 Some don’t think it is the right way to start the season but Alcoa ( AA ) still is known for kicking off earnings and this much maligned stock and company. AA reported EPS that beat analysts expectations (7c vs 6c) on just slightly lower than expected revenue ($5.8B vs $5.83B). After reporting last night, AA closed almost exactly flat today but considering AA recently bounced I would say it held the recent move. Is the bottom in AA in? It could be. Everyone that has thought that…
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…