AA earnings came in better than expected with bullish upside guidance and that is a good way to kick off earnings season. S&P 500 closed at an all time high, the NASDAQ took out 5000 intraday while the dollar also managed to climb slightly higher.
While it wouldn't be a big shock if we were to see a pullback or have the markets pause and consolidate after the recent V bottom run. We may just continue to grind higher frustrating the bears as we will now be hearing things like "Fresh all time highs" and "New record intraday highs" "Record Breaking Highs" every time we tick a point higher. Maybe CNBC will do a Special Report called "MARKETS IN NIRVANA". << (SARCASM) Nobody knows how long this can last and people have a tendency to get really bullish when they keep hearing and seeing all time highs.
However, I also know there are also a lot of people out there (including myself) that are not sold on the markets and remain extremely cautious. Markets like climbing the wall of worry so all we can do is play what is in front of us. We just can't let ourselves to get too comfortable.
AA earnings could be good for material and mining stocks so keep an eye on the sector and look for some potential sympathy plays. STX announced they will be reducing 14 percent of their workforce but they also raised guidance giving the stock a boost after the close. The SMH closed over 58.50 and looks particularly strong so keep an eye out for opportunities in the semiconductor space.
Today's Markets
In Asia, Japan +2.5% to 16096. Hong Kong +1.7% to 21225. China+1.8% to 3049. India +0.7% to 27808.
In Europe, at midday, London flat. Paris +1.7%. Frankfurt +1.7%.
Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.6%. Crude +2.1%to $45.70. Gold -0.3% to $1352.90.
Ten-year Treasury Yield +5 bps to 1.48%
Today's Economic CalendarIn Europe, at midday, London flat. Paris +1.7%. Frankfurt +1.7%.
Futures at 6:20, Dow +0.5%. S&P +0.5%. Nasdaq +0.6%. Crude +2.1%to $45.70. Gold -0.3% to $1352.90.
Ten-year Treasury Yield +5 bps to 1.48%
6:00 NFIB Small Business Optimism Index
8:45 Fed's Bullard speech
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
10:00 Wholesale Trade
1:00 PM Results of $20B, 10-Year Note Auction
10:30 PM Fed's Mester speech
Volatility OIL Biotech8:45 Fed's Bullard speech
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
10:00 Wholesale Trade
1:00 PM Results of $20B, 10-Year Note Auction
10:30 PM Fed's Mester speech
UVXY XIV VXX TVIX UWTI DWTI GUSH DRIP USO LABD IBB LABU
VMIX VMAX
VMIX VMAX
Gold SILVER Dollar Financials
GLD NUGT JNUG USLV UUP FAS XLF FAZ HYG JNK
Minerals and Miners Utilities RETAIL Transportation
XME GDX GDXJ XLU XRT IYT XTN
DUST JDST
Agriculture SPY
DBA, DAG SPXS SPXL
STOCKS ON MY RADAR PREMARKET
SAGE positive data out gapping off the news small floater decent short interest
Could set up intraday
RLYP price target upgrade lil gapper testing trendline resistance 21 roll big short interest
CDTI gapping off pr chronic pop and flopper DO NOT chase it the Pr is fluffy
TROV PR trendline break and potential 5 roll decent short interest
NVIV gapping off news >already ran into this news small float potential 7 roll
SAGE positive data out gapping off the news small floater decent short interest
Could set up intraday
RLYP price target upgrade lil gapper testing trendline resistance 21 roll big short interest
CDTI gapping off pr chronic pop and flopper DO NOT chase it the Pr is fluffy
TROV PR trendline break and potential 5 roll decent short interest
NVIV gapping off news >already ran into this news small float potential 7 roll
*PR = Press Release*
This weeks Ticker Tv Stocks to watch and their performance below
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