July 23, 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…

Lots of data yields flat finish

Index & Sector performance 7/30/14 The Market: Lots of Economic Data/announcements in today’s session but when the dust settled it was surprisingly a flat session with the NASDAQ (QQQ) and Russell 2000 (IWM) leading while the Dow (DIA) finished slightly lower and the S&P 500 (SPY) finished slightly higher. The leading sector on the WSC Scoreboard was Retail (XRT) finishing the day up 1% however Retail remains the only individual sector on the WSC Scoreboard that is down for the year.  The laggard was the Utilities (XLU) and decisively so finishing the day down 1.69%.  We remain interested in some…

GDP disappoints but market ignores

Index & Sector performance 4/30/14 The Market: As you can see in the table below, the U.S. Q1 GDP number came in well below expectations.  While Q1 was not expected to be a high growth quarter, clearly analysts did not expect a near negative number.  Certainly the colder than expected weather could have and likely did play a role but on our opinion you cannot completely blame a miss like this on the weather. So why might traders and investors be willing to look past this data besides the weather?  Possibly because a number like this allows the Fed to…