Another Day, Another High!

The Dow Jones rallied on Tuesday, recording its strongest winning day in over a month against the backdrop of superb earnings results, and upgraded forecasts from firms like MMM and CAT which piqued optimism about the strength of the economy. The S&P 500 and the NASDAQ settled for more modest gains. MMM soared 5.9%, CAT jumping 5%.

It’s certainly encouraging to see these large industrial companies releasing solid numbers and raising their guidance. A mere glance at the earnings reports released on Monday and yesterday underscores localized U.S. strength.

Stocks, though, slightly offset the early gains later in the day after Bloomberg reported that the Fed Chair nominee, the Stanford economist, John Taylor, is likely to get the job at the beginning of next year. Market analysts believe Taylor will take a tougher monetary stance than his predecessor, Janet Yellen.

Daily Summary: The Dow Jones rallied 0.72% to a new historic high, the S&P 500 tacking on 0.16% and the NASDAQ edging up 0.18%.

Solid earnings reports and optimism about the tax reform initiative of President Trump were behind the gains these past few days. Two companies that cast a cloud on the gains yesterday were BIIB and WHR. BIIB fell 3.9% after releasing disappointing sales numbers for its potential blockbuster drug, Spinraza. WHR, tumbled 10.5% after the electric household appliance maker released sales and earnings numbers beneath the consensus, while lowering its earnings forecast.

About 6.2 billion shares traded hands on U.S. exchanges, compared to the 5.9 billion average over the last 20 trading days.

Wednesday: For the time being, the earnings season has proven itself a positive one for American firms, right as the season’s about to pick up and go into high gear, dozens of companies reporting today, including Boeing (BA), Coca Cola (KO) and Visa (V).

Today’s Economic Diary will also grab a lot of attention today on Wall Street with durable goods orders coming out at 8:30 N.Y. time, and the FHFA home price index at 9:00. New home sales will be released at 10:00, weekly crude inventory figures coming out at 10:30.

 

Index Last Daily change
DJX 23,442 0.72% Up
SPX 2,569 0.16% Up
Nasdaq 6,598 0.18% Up

 

Today’s Hot Stocks: BA, V, JNPR, AMD, COF, EW, IR

IPOs: ABLX

Have a great trading day!

 

 

Economic Calendar

 

DAY TIME (EST) Event Forecast Impact
Tuesday 9:45 PMI Composite Flash 54.8 Medium
Wednesday 8:30 Durable Goods Orders 1.0 % Medium
Wednesday 9:00 FHFA House Price Index 0.4 % Medium
Wednesday 10:00 New Home Sales 555 K Medium
Wednesday 10:30 Oil Inventories Low
Thursday 8:30 Jobless Claims 235K Medium
Thursday 10:00 Pending Home Sales Index 0.5 % Medium
Friday 8:30 GDP 2.5 % High
Friday 10:00 Consumer Sentiment 101.1 Medium

 

 

Earning Calendar

 

Symbol Company AM/PM Day
ARNC Arconic Inc. AM Monday
HAL Halliburton Company AM Monday
HAS Hasbro, Inc. AM Monday
KMB Kimberly-Clark Corporation AM Monday
STT State Street Corporation AM Monday
WHR Whirlpool Corporation PM Monday
CAT Caterpillar Inc. AM Tuesday
EDU New Oriental Education & Technology Group Inc. AM Tuesday
GLW Corning Incorporated AM Tuesday
GM General Motors Company AM Tuesday
LLY Eli Lilly and Company AM Tuesday
LMT Lockheed Martin Corporation AM Tuesday
MCD McDonald’s Corporation AM Tuesday
MMM 3M Company AM Tuesday
UTX United Technologies Corporation AM Tuesday
YNDX Yandex N.V. AM Tuesday
AMD Advanced Micro Devices, Inc. PM Tuesday
COF Capital One Financial Corporation PM Tuesday
ESRX Express Scripts Holding Company PM Tuesday
EW Edwards Lifesciences Corporation PM Tuesday
ILMN Illumina, Inc. PM Tuesday
T AT&T Inc. PM Tuesday
TXN Texas Instruments Incorporated PM Tuesday
BA The Boeing Company AM Wednesday
BAX Baxter International Inc. AM Wednesday
DPS Dr Pepper Snapple Group, Inc. AM Wednesday
GD General Dynamics Corporation AM Wednesday
HES Hess Corporation AM Wednesday
IP International Paper Company AM Wednesday
IR Ingersoll-Rand Plc AM Wednesday
KO The Coca-Cola Company AM Wednesday
TMO Thermo Fisher Scientific Inc. AM Wednesday
V Visa Inc. AM Wednesday
WBA Walgreens Boots Alliance, Inc. AM Wednesday
WYN Wyndham Worldwide Corporation AM Wednesday
AFL Aflac Incorporated PM Wednesday
AMGN Amgen Inc. PM Wednesday
CTXS Citrix Systems, Inc. PM Wednesday
DLR Digital Realty Trust, Inc. PM Wednesday
LVS Las Vegas Sands Corp. PM Wednesday
NXPI NXP Semiconductors N.V. PM Wednesday
ORLY O’Reilly Automotive, Inc. PM Wednesday
VRTX Vertex Pharmaceuticals Incorporated PM Wednesday
AAL American Airlines Group Inc. AM Thursday
BMY Bristol-Myers Squibb Company AM Thursday
CELG Celgene Corporation AM Thursday
CHTR Charter Communications, Inc. AM Thursday
CMCSA Comcast Corporation AM Thursday
CME CME Group Inc. AM Thursday
COP ConocoPhillips AM Thursday
HSY The Hershey Company AM Thursday
MCK McKesson Corporation AM Thursday
MO Altria Group, Inc. AM Thursday
MPC Marathon Petroleum Corporation AM Thursday
TWTR Twitter, Inc. AM Thursday
UNP Union Pacific Corporation AM Thursday
UPS United Parcel Service, Inc. AM Thursday
VLO Valero Energy Corporation AM Thursday
AMZN Amazon.com, Inc. PM Thursday
BIDU Baidu, Inc. PM Thursday
BMRN BioMarin Pharmaceutical Inc. PM Thursday
CERN Cerner Corporation PM Thursday
GILD Gilead Sciences, Inc. PM Thursday
GOOGL Alphabet Inc. PM Thursday
INTC Intel Corporation PM Thursday
KLAC KLA-Tencor Corporation PM Thursday
MSFT Microsoft Corporation PM Thursday
NOV National Oilwell Varco, Inc. PM Thursday
VRSN VeriSign, Inc. PM Thursday
WDC Western Digital Corporation PM Thursday
ABBV AbbVie Inc. AM Friday
AON Aon plc AM Friday
CL Colgate-Palmolive Company AM Friday
COG Cabot Oil & Gas Corporation AM Friday
CVX Chevron Corporation AM Friday
LYB LyondellBasell Industries N.V. AM Friday
MRK Merck & Co., Inc. AM Friday
PSX Phillips 66 AM Friday
VTR Ventas, Inc. AM Friday
XOM Exxon Mobil Corporation AM Friday

 

Today’s Picks – Day Trading!

Symbol Breakout Breakdown Momentum Momentum
FDX 227 WAB FAST
PAYX 64.75 PII CIT
MOMO 31 AA PCAR
MDCO 32.39 CONN IONS

 

New York Strategy Swing

# Date Stock Long\

Short

Statues Data Close Profit\

Loss

1 1.9.2017 VNTV Long Close 14.9.2017 +1.35%
2 12.9.2017 CPB Short Close 15.9.2017 -1.10%
3 18.9.2017 INSM Long Close 22.9.2017 +1.92%
4 25.9.2017 GPS Long Close 2.10.2017 +1.69%
5 27.9.2017 SQM Long Close 29.9.2017 +1.69%
6 2.10.2017 ATI Long Close 6.10.2017 +3.12%
7 2.10.2017 TROX Long Close 18.10.2017 +13.93%
8 3.10.2017 ABT Long Close 11.10.2017 +1.60%
9 9.10.2017 ZGNX Long Close 12.10.2017 +3.26%
10 16.10.2017 INSM Long Close 19.10.2017 -2.82%
11 24.10.2017 CVS Short Open   -0.30%


Today’s Picks – Swing “New-York Strategy”

No.1 –   RXDX

Company Name Ignyta
Entry Point 16
Stop Area 14.95
1st Target 16.45
Swing Target 18.30
Avg. Volume 1.20M
Sector Healthcare | Biotechnology
Earning Date 6 Nov
Risk Rate Normal
Risk\Reward Ratio 2.19:1

Risk Rates: Normal – Regular size, High –Consider reducing size, Low – Consider increasing size