Stocks retreat with megacaps mostly disappointing lofty investor
expectations
- The market is lower with investors mostly giving the thumbs down to
the megacap's spate of earnings and guidance yesterday, although it is
well
off the knee-jerk overnight losses in futures.
- The S&P (SP500) is off 0.6%, the Nasdaq (COMP) is off 0.7% and the Dow
Jones (DJI) is down 0.5%.
- The 3,300 level will be watched on the S&P. It's been trading around
these round numbers lately and will likely make an attempt to close
above,
as it did with 3,400 for most of October. Range-trading may be the order
of
the day, though, going into the weekend before the election.
- The priced-for-perfection Fab 5 megacaps are lower with the exception
of Alphabet +7%. Apple -3.3% is the worst performer, even though
analysts seem positive on the results.
- Twitter -16% is getting drubbed on its new user numbers. Shares are
close to testing the 50-day SMA it had been storming above since early
July.
- Breadth is fairly even, with 6 of 11 S&P sectors in the red.
|Today, 9:33 AM|19 Comments
expectations
- The market is lower with investors mostly giving the thumbs down to
the megacap's spate of earnings and guidance yesterday, although it is
well
off the knee-jerk overnight losses in futures.
- The S&P (SP500) is off 0.6%, the Nasdaq (COMP) is off 0.7% and the Dow
Jones (DJI) is down 0.5%.
- The 3,300 level will be watched on the S&P. It's been trading around
these round numbers lately and will likely make an attempt to close
above,
as it did with 3,400 for most of October. Range-trading may be the order
of
the day, though, going into the weekend before the election.
- The priced-for-perfection Fab 5 megacaps are lower with the exception
of Alphabet +7%. Apple -3.3% is the worst performer, even though
analysts seem positive on the results.
- Twitter -16% is getting drubbed on its new user numbers. Shares are
close to testing the 50-day SMA it had been storming above since early
July.
- Breadth is fairly even, with 6 of 11 S&P sectors in the red.
|Today, 9:33 AM|19 Comments
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