The bears were unable to push the markets lower on Tues and as the Fed announcement at 2:15pm stated the Federal Reserve would pump $600 billion in POMO for the 2nd quarter, the averages pushed higher as the IWM recovered 1.7%, followed by .7% gains in the QQQQ and DJIA, and .5% gain in the SPY reaching 1296 (1299.74 intraday).
Breath on the NYSE was 21 issues up for every 9 down. 281 stocks reached new 20-day highs.
Generic Drugs might be back in play as TEVA had its 2nd consecutive up day, up 3% to 56.29 reaching a 20-day high. WPI up 2.44% also in the same sector.
Wholesale Drugs also had consistent gains. CAH and ABC up 1.2%.
ISRG made it four straight up days since earnings, up another 5 to 338.
HMOs returned to the plus side after five sideways days. CI up 1%.
Agricultural Chemicals will be in the premarket news for Thursday. For Wed, POT was up 5 pts or 6.6% before they announce earnings at 3am Pacific Time on Thur.
Industrial Equipment did well as ROK up 8.8% to a 52 week high on good earnings.
Industrial Metals was the top sector with PCX recovering 8.5%, WLT up 7.3%, USX up 3.4%.
Oil Service had the largest list of individual names. BHI up 5.9% on positive earnings. The OIH had a 5.2% gain.
CLH up 7.8% also on a positive earnings reaction.
BAL (Cotton) up 3% to 85.25.
In after-hours action,
NFLX while down 3.71 in the regular session had a positive reaction to its earnings as the stock closed the 8pm after-hours section up 19 pts or 8.2% to 202.
QCOM reported good numbers and is up over 3 pts or almost 6% to 55.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment