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.

 

IndexLastDaily change
DJX23,4420.72%Up
SPX2,5690.16%Up
Nasdaq6,5980.18%Up

 

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

IPOs: ABLX

Have a great trading day!

 

 

Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Tuesday9:45PMI Composite Flash54.8Medium
Wednesday8:30Durable Goods Orders1.0 %Medium
Wednesday9:00FHFA House Price Index0.4 %Medium
Wednesday10:00New Home Sales555 KMedium
Wednesday10:30Oil InventoriesLow
Thursday8:30Jobless Claims235KMedium
Thursday10:00Pending Home Sales Index0.5 %Medium
Friday8:30GDP2.5 %High
Friday10:00Consumer Sentiment101.1Medium

 

 

Earning Calendar

 

SymbolCompanyAM/PMDay
ARNCArconic Inc.AMMonday
HALHalliburton CompanyAMMonday
HASHasbro, Inc.AMMonday
KMBKimberly-Clark CorporationAMMonday
STTState Street CorporationAMMonday
WHRWhirlpool CorporationPMMonday
CATCaterpillar Inc.AMTuesday
EDUNew Oriental Education & Technology Group Inc.AMTuesday
GLWCorning IncorporatedAMTuesday
GMGeneral Motors CompanyAMTuesday
LLYEli Lilly and CompanyAMTuesday
LMTLockheed Martin CorporationAMTuesday
MCDMcDonald’s CorporationAMTuesday
MMM3M CompanyAMTuesday
UTXUnited Technologies CorporationAMTuesday
YNDXYandex N.V.AMTuesday
AMDAdvanced Micro Devices, Inc.PMTuesday
COFCapital One Financial CorporationPMTuesday
ESRXExpress Scripts Holding CompanyPMTuesday
EWEdwards Lifesciences CorporationPMTuesday
ILMNIllumina, Inc.PMTuesday
TAT&T Inc.PMTuesday
TXNTexas Instruments IncorporatedPMTuesday
BAThe Boeing CompanyAMWednesday
BAXBaxter International Inc.AMWednesday
DPSDr Pepper Snapple Group, Inc.AMWednesday
GDGeneral Dynamics CorporationAMWednesday
HESHess CorporationAMWednesday
IPInternational Paper CompanyAMWednesday
IRIngersoll-Rand PlcAMWednesday
KOThe Coca-Cola CompanyAMWednesday
TMOThermo Fisher Scientific Inc.AMWednesday
VVisa Inc.AMWednesday
WBAWalgreens Boots Alliance, Inc.AMWednesday
WYNWyndham Worldwide CorporationAMWednesday
AFLAflac IncorporatedPMWednesday
AMGNAmgen Inc.PMWednesday
CTXSCitrix Systems, Inc.PMWednesday
DLRDigital Realty Trust, Inc.PMWednesday
LVSLas Vegas Sands Corp.PMWednesday
NXPINXP Semiconductors N.V.PMWednesday
ORLYO’Reilly Automotive, Inc.PMWednesday
VRTXVertex Pharmaceuticals IncorporatedPMWednesday
AALAmerican Airlines Group Inc.AMThursday
BMYBristol-Myers Squibb CompanyAMThursday
CELGCelgene CorporationAMThursday
CHTRCharter Communications, Inc.AMThursday
CMCSAComcast CorporationAMThursday
CMECME Group Inc.AMThursday
COPConocoPhillipsAMThursday
HSYThe Hershey CompanyAMThursday
MCKMcKesson CorporationAMThursday
MOAltria Group, Inc.AMThursday
MPCMarathon Petroleum CorporationAMThursday
TWTRTwitter, Inc.AMThursday
UNPUnion Pacific CorporationAMThursday
UPSUnited Parcel Service, Inc.AMThursday
VLOValero Energy CorporationAMThursday
AMZNAmazon.com, Inc.PMThursday
BIDUBaidu, Inc.PMThursday
BMRNBioMarin Pharmaceutical Inc.PMThursday
CERNCerner CorporationPMThursday
GILDGilead Sciences, Inc.PMThursday
GOOGLAlphabet Inc.PMThursday
INTCIntel CorporationPMThursday
KLACKLA-Tencor CorporationPMThursday
MSFTMicrosoft CorporationPMThursday
NOVNational Oilwell Varco, Inc.PMThursday
VRSNVeriSign, Inc.PMThursday
WDCWestern Digital CorporationPMThursday
ABBVAbbVie Inc.AMFriday
AONAon plcAMFriday
CLColgate-Palmolive CompanyAMFriday
COGCabot Oil & Gas CorporationAMFriday
CVXChevron CorporationAMFriday
LYBLyondellBasell Industries N.V.AMFriday
MRKMerck & Co., Inc.AMFriday
PSXPhillips 66AMFriday
VTRVentas, Inc.AMFriday
XOMExxon Mobil CorporationAMFriday

 

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
FDX227WABFAST
PAYX64.75PIICIT
MOMO31AAPCAR
MDCO32.39CONNIONS

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

11.9.2017VNTVLongClose14.9.2017+1.35%
212.9.2017CPBShortClose15.9.2017-1.10%
318.9.2017INSMLongClose22.9.2017+1.92%
425.9.2017GPSLongClose2.10.2017+1.69%
527.9.2017SQMLongClose29.9.2017+1.69%
62.10.2017ATILongClose6.10.2017+3.12%
72.10.2017TROXLongClose18.10.2017+13.93%
83.10.2017ABTLongClose11.10.2017+1.60%
99.10.2017ZGNXLongClose12.10.2017+3.26%
1016.10.2017INSMLongClose19.10.2017-2.82%
1124.10.2017CVSShortOpen -0.30%


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

No.1 –   RXDX

Company NameIgnyta
Entry Point16
Stop Area14.95
1st Target16.45
Swing Target18.30
Avg. Volume1.20M
SectorHealthcare | Biotechnology
Earning Date6 Nov
Risk RateNormal
Risk\Reward Ratio2.19:1

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