Rates Left Unchanged

Large U.S. stocks continued trading in a narrow, well-defined range, constricted by the bounds of its two-month long consolidation pattern – in the face of resistance from the high set at the beginning of March. The market didn’t flinch in the least after the central bank’s policy announcement, the Fed stating that it didn’t see in the recent spate of weak economic figures a reason to refrain from hiking rates.

In Summary for the Day: The Dow Jones ended negligibly up by 0.04%, the S&P 500 ending negligibly down by 0.13%. The NASDAQ shed 0.4% and gold fell 0.7%.

Financial stocks (XLF) rallied 0.6% in the wake of yesterday’s Fed meeting as chances grew for a June rate hike.

One of the stocks standing out in yesterday’s trading was Weight Watchers (WTW), which rallied 9.3% on the background of a Q1 earnings surprise and a double-digit percentage rise in year-over-year membership. First Solar (FSLR) soared 11.8% after beating analysts’ revenue and earnings forecasts.

One of the losing stocks that stood out yesterday was Akamai (AKAM), which tumbled 15.5% after weak management guidance was released for the rest of the year on the heels of feeble internet-based video traffic. Etsy (ETSY), the online art marketplace operator, fell 7.8% yesterday after its earnings reports came out weaker than expected and likewise, after having named a new CEO. Disney (DIS) toppled 2.4% on the background of general weakness in the media sector.

Apple (AAPL) ended off 0.31% after reporting mixed results yesterday after closing; earnings trumped expectations but revenues fell short, iPhone sales missing analyst forecasts in light of continued weakness in China. Forward guidance was weak, but Apple is known for its tendency to keep expectations low.

On the economic front, a weak reading on the April ADP Employment Report, which measures the number of new jobs in the private sector, was released yesterday before opening. In turn, the reading lowered the bar for Friday’s pivotal official employment report. The number of positions created last month in the private sector was 177 thousand, beneath the market consensus of 180 thousand. The Supply Managers’ ISM Service Sector Index was strong, with a 57.5 point reading, besting the forecasted 55.8 points and March’s 55.2 point reading.

After Closing: The social media giant, Facebook (FB), which has risen almost 32% year-to-date, released good numbers, EPS coming out at $1.04, easily trouncing forecasted earnings of 87 cents per share. Revenues came to $8.03 billion, above analysts’ forecast of $7.85 billion. Despite the solid numbers, Facebook fell 2.5% in late trading, the market response being, “Buy the rumor, and sell the news!”

Another interesting report was that of Tesla (TSLA), the electric carmaker, which reported a large than expected loss of $1.33 per share, the consensus having been a 55 cent loss per share. Revenue, though, came out above the consensus. TSLA ended late trading down by 2.27%.

On the S&P 500, 31 stocks rose to new 52-week highs, 7 dipping to new yearly lows; on the NASDAQ, 83 stocks recorded new 52-week highs, 71 falling to new yearly lows.

About 7.3 billion shares changed hands on U.S. exchanges, above the 6.6 billion daily average over the last 20 trading days.

Thursday: Traders are continuing to wait for the official governmental employment report that will be released on Friday before opening. Today, we’ll be getting a number of economic reports, starting with weekly initial unemployment claims, the trade deficit and productivity and costs, all at 8:30 N.Y. time. Factory order numbers will be released at 10:00.

IndexLastDaily changeR2R1PPS1S2
DJX20,9580.04%Up     
SPX2,388(-0.13%)Down236.91236.18235.30234.57233.69
Nasdaq6,073(-0.37%)Down132.73132.39132.04131.70131.35

Today’s Hot Stocks: SQ, DATA, CAR, FB, TSLA, KHC, AIG, K

IPOs: AMGP, BHVN, URGN

Have a great trading day!


Economic Calendar

 

DAYTIME (EST)EventForecastImpact
Monday8:30Personal incomeMedium
Monday8:30Consumer spendingMedium
Monday9:45Manufacturing PMIMedium
Monday10:00ISM manufacturingHigh
Monday10:00 Construction spendingMedium
Tuesday14:00April vehicle salesLow
Wednesday8:15ADP payrollsHigh
Wednesday9:45Services PMIMedium
Wednesday10:30Crude Oil InventoriesLow
Wednesday10:00ISM non-manufacturingMedium
Wednesday14:00Fed decisionHigh
Thursday8:30Jobless claimsHigh
Thursday10:00Factory ordersMedium

 

Earning Calendar

 

SymbolCompanyAM/PMDay
THCTenet Healthcare Corp.PMMonday
LLLumber Liquidators Holdings, Inc.AMTuesday
MAMastercard IncorporatedAMTuesday
AETAetna Inc.AMTuesday
COHCoach, Inc.AMTuesday
COPConocoPhillipsAMTuesday
CVSCVS Health CorporationAMTuesday
MOSThe Mosaic CompanyAMTuesday
MRKMerck & Co., Inc.AMTuesday
PFEPfizer Inc.AMTuesday
GILDGilead Sciences, Inc.PMTuesday
AAPLApple Inc.PMTuesday
WTWWeight Watchers International, Inc.PMTuesday
TWXTime Warner Inc.AMWednesday
ELThe Estee Lauder Companies Inc.AMWednesday
FBFacebook, Inc.PMWednesday
AIGAmerican International Group, Inc.PMWednesday
KHCThe Kraft Heinz CompanyPMWednesday
TSLATesla, Inc.PMWednesday
METMetLife, Inc.PMWednesday
VIABViacom, Inc.AMThursday
KKellogg CompanyAMThursday
CABCabela’s IncorporatedAMThursday
CBSCBS CorporationPMThursday
ATVIActivision Blizzard, Inc.PMThursday
SHAKSHAKE SHACK INC.PMThursday
ZZillow Group, Inc.PMThursday
MCOMoody’s CorporationAMFriday
CICigna CorporationAMFriday
CTSHCognizant Technology Solutions CorporationAMFriday

  

Today’s Picks – Day Trading!

SymbolBreakoutBreakdownMomentumMomentum
PX126 CMAAMCX
MCD142.79 FSLRBG
TMO168.76 WTWAKAM
V92.80 DLPHSPR
GRUB45.09 RHAPC
CTXS88 YUMVIAB
MAC 61.68CLDRTHC
TECK 19.20MOH 
DXCM 72.62  

 

New York Strategy Swing

#DateStockLong\

Short

StatuesData CloseProfit\

Loss

13.4.2017ARNCLongClose31.3.2017-2.52%
23.4.2017GMEShortClose10.4.2017+1.95%
35.4.2017IPXLLongClose11.4.2017+7.03%
413.4.2017NKTRLongClose21.4.2017+0.61%
525.4.2017LULUShortClose2.5.2017-0.17%
626.4.2017GNCLongClose28.4.2017-4.39%
728.4.2017CARALongClose1.5.2017-3.23%
81.5.2017AAOILongClose2.5.2017+0.54%
93.5.2017SCSSLongOpen -0.42%
10      
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 Today’s Picks – Swing “New-York Strategy

 No.1 –  SNCR

Company NameSynchronoss Technologies
Entry Point15.39
Stop Area16.45
1st Target14.80
Swing Target11.15
Avg. Volume1.62M
Sector
Technology | Application Software
Earning Date
Risk RateNormal
Risk\Reward Ratio4.00:1

No.2 – CRZO

Company NameCarrizo Oil & Gas, Inc.
Entry Point25
Stop Area26.25
1st Target24.55
Swing Target
Avg. Volume1.48M
SectorBasic Materials | Independent Oil & Gas
Earning Date9 May
Risk RateNormal
Risk\Reward Ratio4.85:1