As has been the case for the last 2 months the markets started off slightly negative and finished with upside according to the new law of central bank physics.
Today the S&P was the only board that was skittish and concurrently finished up the weakest.
Gold and oil performed poorly today while technology did well when looking at specific names like $IBM & $GOOG.
Retailers took it on the chin thanks to poor earnings out of $COH.
The markets were led by technology followed by service companies. Despite positive markets transportation, healthcare, and capital goods were largely flat on the day while conglomerates, consumer cyclicals, energy, and financials were down.
This happens to be the tenth longest rally without a correction so it’s no wonder we are experiencing a slow grind higher based on relatively okay earnings and the powers of the bearded clam.
DOW up 65
NASDAQ up 10
S&P up 2
Russell 2000 down 2
Gold down $7
WTI down $1.07
Brent up $0.60
