D&D Note (4.17.2018) ~ Markets Rally on Earnings ~
Today we saw a broad based rally on the back of positive earnings reports. While a lot of the impact of this earnings season is already baked into asset prices the market is showing there is still upshot potential in companies stock prices.
Tax Day in America is here which many will see as a boost to crypto assets as there has been a lot of tax selling of coins leading into today.
This week we also will see “4-20” a so-called “Marijuana Holiday”. There will be a lot of attention to Pot Stocks this week which should help boost stock prices. While the sector pulled back today this is after a nice run the last few sessions.
With a lot of the geopolitical tension being eased investors focus is back to the essential driver of markets in companies earnings reports. We are still not out of the woods yet and in a trading range. For the bulls to rear their horns again we need to see the S&P 500 close above 2740 and hold that level.
The 10 to 2 YR spread remains to tighten which is a headwind concern as it approaches 40 basis points spread the lowest in nearly a decade.
D&D movers:
– AMZN up 4.32%
– UNH up 3.57%
– GOOG up 3.49%
– PYPL up 2.87%
– CNTTF down -7.91%
– APHQF down -6.28%
– TWMJF down -3.19%
– IMLFF down -1.92%
Indexes
– DOW up 0.87%
– NASDAQ up 1.74%
– S&P up 1.07%
Sector Movers:
– Technology up 2.01%
– Consumer Discretionary up 1.87%
– Real Estate up 1.33%
– Financials down -0.07%
Notes
– US 2-YR 2.39% (up 0.013)
– US 10-YR 2.823% (down -0.009)
– US 30-YR 3.014% (down -0.016)
Volatility
– VIX 15.15 (down -8.51%)
Crypto (1:00 PST)
– BTC $7,880.01
– ETH $503.36
– BCH $757.01
– LTC $133.77
Metals
– Gold $1,350.10 down -0.04%
– Silver $16.775 up 0.59%
– Copper $3.083 down -0.40%
Energy
– Oil $66.46 up 0.36%
– Brent $71.51 up 0.13%
– Nat Gas $2.739 down -0.47%
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