Choppy trading leaves the indices flat
Index & Sector performance 2/26/14 The Market: A choppy trading session to saw a sell off toward the open which ultimately was bought until midday when the S&P started to make its way back down toward and below the previous intraday lows. Again buyers stepped in and were able to close the S&P 500 essentially flat on the day. Companies scheduled to report earnings pre-market: Analyst Comments:
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 closes at new highs
Index & Sector performance 10/17/13 The Market: The government put the debt ceiling behind the nation….until the beginning of next year. The temporary resolution should take the issue off the front pages, for now. The markets started with a gap lower which was quickly bought up and a strong rally continued to build off the 10/09 lows with the S&P 500 posting all time closing highs. In economic news Unemployment Claims came in at 358K vs consensus expectations of 357K so inline and then the Philly Fed Manufacturing index saw a small drop but was better than expected. CNBC reported…
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…
Daily Wrap
DJIA -81.45 (-0.56%) to 14,537.14; S&P 500 -10.40 (-0.67%) to 1,541.61; NASDAQ -40.03 (-1.44%) to 2,741.95 Today was another strong down day but had more back and forth than previous sessions. Stocks started the day slightly positive following up on an Unemployment claims number that wasn’t necessarily bullish but also and maybe more importantly wasn’t bearish and came in relatively inline with estimates. Those early gains gave way and at the lows the S&P 500 cash index was down roughly 16 points. Overall the action was not like previous sessions and it did feel as though the market is trying to set-up for…
Daily Wrap
DJIA +84.79 (+0.63%) to 13,596.02; S&P 500 +8.31 (+0.56%) to 1,480.94; NASDAQ +18.46 (+0.59%) to 3,136.00 Today started with a gap higher and then continued leaving a chart which moved from the lower left to upper right. The market really started its move after we got a much better than expected Weekly jobless claims number which came in at 335K vs the expected 369K. The markets did make their high just after 2pm and moved lower into the close and after the close but not destructively so. The news causing the decline may have been from Dallas Fed hawk Fisher…