Briefing Archives
Tuesday, January 27th, 2009Updated: 24-Aug-09 17:12ET
“Coming off last week’s four-day rally, the market caught some follow through momentum during the first hour on Monday, before succumbing to selling pressure the rest of the day. The action leaves a significant reversal day in place for the major indices, suggesting a rest/correction at these levels is in the works. Dow close +3.32 at 9509.28, SPX -0.56 at 1025.57, Nasdaq -2.92 at 2017.98, and Russell -1.27 at 580.24. Laggard sectors included Banks BKX -1.59%, Retail RLX -1.55%, Restaurants DJUSRU -1.13%, Gold HUI -1.07% and Rails DJUSRR -1.00%.”
Updated: 18-Aug-09 17:18ET
“The stock market was able to shake off the negative performance noted in the first session of the week and the slightly below consensus pre-market housing related data to open on a mildly firmer note on Tuesday. The first half hour was marked by merely sideways chop indicating that selling interest was muted despite yesterday’s wide range bar down with positive news out of Retail (HD, TGT), Finance and overseas providing an impetus for the rebound gains. Sectors other than Finance (XLF +2%, RKH +1.6%, KBE +2%, IAI +1.3%, Insurance +1.8%) providing leadership were: Casino +3.7%, Disk Drive +3%, Networking +3%, Auto Parts +2.8%, Steel +2.7%, Airline +2.4%, Trucking +2.3%, Oil Service OIH +2.1%, Paper +2%, Computer-Hardware +2%, Housing XHB +2%, Semi SMH +1.5%, Retail XRT +1.4%.”
Updated: 04-Aug-09 00:48ET
“Another broad-based positive day for the markets as August gets under way. The S&P 500 managed to extend its 3-week upward momentum to close just above the 1000-mark, a feat last seen back in early November of 2008. Dow +115, SPX +15, Nasdaq +30, Russell +9. The US Dollar’s continued weakness to a fresh multi-month low gave a boost to the Basic Material (XLB +3.19%) and Energy (XLE +2.4%) complex as inflation concerns re-emerge. The chart below shows the Relative Performance of the 9 S&P sectors for the month of July.”
