A flat day across all the major indices
Index & Sector performance 10/28/13 The Market: A fairly lack luster day as the broad indexes chopped around with the S&P and Nasdaq closing positive while the Dow and Russell lagged. Early optimism in the S&P was quickly sold in early trading but the market was able to hold and press to new highs until a late day sell off which sent the S&P back toward unchanged for the day. In economic data we saw Capacity Utilization Rate and Industrial Production month over month beat expectations while pending home sales greatly disappointed posting a -5.6%. Tomorrow will be a much…
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…
Daily Wrap
DJIA -12.67 (-0.08%) to 15,294.50; S&P 500 -4.84 (-0.29%) to 1,650.51; NASDAQ -7.68 (-0.26%) to 2,991.45 A much more exciting day today than the markets might otherwise look if you simply check the closing prices. The market traded lower overnight as the Nikkei lost roughly 7%. Our markets used the first 30 minutes or so of trading to find the bottom and then rallied with all 3 major indices (and even the Russell 2000) spending time up on the day. The march to even ultimately acted as resistance and the S&P pulled back during the last hour to finish with small losses. On…