BIIB helps XLV finish up over 26% YTD
Index & Sector performance 12/2/14 The Market: It was a solid session following Monday’s drop with the Russell 2000 (IWM) clearly leading and with advancers leading decliners by roughly 2:1. In Individual sectors it was Transportation (IYT) leading up 1.18% followed closely by Energy (XLE), which is still trying to recover from Friday’s big gap down, up 1.16%, and lastly HealthCare (XLV) which finished 1.12% higher and is now up over 26% year-to-date. Helping the XLV today was Biogen Idec (BIIB) which gained 6.43% on positive results from an early-stage Alzheimer’s drug trial. BIIB is a name to watch. Above…
Overnight loses quicky negated
Index & Sector performance 10/30/14 The Market: In the overnight session the S&P 500 futures lost roughly 20 points and it appeared to be signaling for a rough Thursday but then recouped nearly all the loses by the open and managed to rally for the majority of the day. All 4 indices from the WSC Scoreboard finished higher with the Dow (DIA) leading the charge helped immensely by Visa (V) which finished the session up 10.24% after reporting better than expected EPS and a new $5B Share Repurchase program yesterday after the close. In Individual sectors the clear standout was…
Merger denied, collaboration approved
Index & Sector performance 7/16/14 The Market: A small up session in the market was helped by solid earnings reports in the morning and a potential huge media merger between Time Warner (TWX) and Twenty First Century Fox (FOXA). FOXA offered $85/share but were turned down by TWZ. This sent shares of TWX screaming higher finishing the day up 17.07% as traders reevaluated TWX’s worth and also speculated on increased offers. In other corporate news, Apple (AAPL) announced they will be teaming up with IBM (IBM) to provide business mobile solutions. BlackBerry (BBRY) was negatively affected by the news finishing…
Early dip finds buyers
Index & Sector performance 6/26/14 The Market: Just before the open the major indices started spiking lower and continued through the bells until roughly 10 am ET before finding a bottom. Then as if nothing happened the market spend the rest of the day climbing back toward even on the day with the S&P 500 (SPY) finishing slightly higher while the other major indices on the WSC Scoreboard finished slightly lower. Just like the broad indices, the individual sectors from the WSC Scoreboard were mixed but all hovering near flat on the day. The Financials (XLF) and Consumer Staples (XLP)…
Low volume day follows the trend
Index & Sector performance 11/22/13 The Market: The market made solid gains trending higher all day to close over $1800 in the S&P 500. If there was anything concerning about today’s rally, it was the volume which seemed very light but seeing a market move in the direction of the trend on low volume days is not uncommon. There was not much on the Economic data front today besides some fed speak but Thursday the 21st was big. Unemployment Claims came in better than expected posting 10K below (323K vs 333K) expectations while the previous week was adjusted slightly higher…