Icahn comments spark late day sell off
Index & Sector performance 11/18/13 The Market: It was a fairly quiet day in the markets until a comment from Carl Icahn appears to have started a late day sell off after noting that he could see the markets have a “big drop”. This sent the S&P 500 down roughly 12 points in the final hour of trading In economic date the NAHB Housing Market Index fell slightly short of estimates posting a 54 when 56 was expected. Today also some a mix of Fed speak and that continues tomorrow including Fed Chairman Bernanke at 7pm EST and President Obama…
Waiting on Washington
Index & Sector performance 9/30/13 The Market: The lack of a deal from Washington on the impending government shutdown seemed to eight on trader’s mind. While the S&P was able to rally after a gap down in early trading, the rally was short lived and around 1:30 pm EST the market again lost ground although was able to remain above the early morning lows In economic data we had Chicago PMI which came in slight better than expected with a 55.7 reading when 54.5 was expected. Tomorrow we have Final Manufacturing PMI, ISM, Construction spending and Total Vehicle Sales. In…
Week in Review
DJIA +70.65 (+0.51%) to 13,895.98; S&P 500 +8.14 (+0.54%) to 1,502.96; NASDAQ +19.33 (+0.62%) to 3,149.71 Leading the major indexes higher today was the Nasdaq, even with AAPL being down over 2%. There was not a great deal of economic news but New Home sales for came in lower than expected but the previous month was adjusted well higher. At this point the market seems to be unshaken and seems to be saying that it is going higher until something substantive unseats it. At the same time, Art Hogan, market strategist at Lazard Capital Markets pointed out that we are up…
Daily Wrap
DJIA +46.00 (+0.33%) to 13,825.33; S&P 500 +0.01 (+0.00%) to 1,494.82; NASDAQ -23.29 (-0.74%) to 3,130.38 As expected the Nasdaq lagged today because of Apple Computers (AAPL) and their lack luster earnings results (or at least not up to expectations). Otherwise the S&P 500 probably couldn’t have shown any more indecision closing higher by 1 penny and likely continuing to showcase that it needs a pause/pullback to refresh. What was positive for the market was to see the Small caps lead and again we got a second straight week of better than expected Unemployment data coming in at 330K. Apple…