Increased chatter of a 10+% decline
Index & Sector performance 4/3/14 The Market: A pre-market pop in the S&P 500 emini sent the index as high at 1887.50ES but that move was short lived and the index was trading lower by the open and continued lower throughout the early and midday trading sessions. It wasn’t until the afternoon trading when the S&P bottomed and marched higher into the close. The emini has continued higher in after hours trading closing in on the pre-market highs essentially negating the entire move lower in today’s session. It is worth noting that the ECB left rates unchanged and noted they…
Daily Wrap
DJIA -55.44 (-0.4%) to 13,328.85; SPX -4.74 (-0.3%) to 1,457.15; NASDAQ -7.01 (-0.2%) to 3,091.81 Today’s action was as expected and a continuation of the consolidation. Early morning trading was only down roughly 2 points in the S&P but by midday we were roughly 10 points lower until finally bottoming and closing the down down 4. Otherwise there wasn’t much Market news and even the fed minutes showed everything roughly remained the same in voting patterns. In the news today was Signet Jewelers (SIG) which gained over 9% on news that holiday season same-store sales rose 3.3% and also on earnings guidance that Wall Street…