This subset of the different portfolios I regularly analyze has now exceeded 250 weeks of public selections as part of this ongoing live forward-testing research.
This also came in higher than the consensus estimate of 16.The Weekly Breakout Forecast continues my doctoral research analysis on MDA breakout selections over more than 7 years. Moreover, Philadelphia Federal Reserve business conditions index increased from 19.7 in December to 23.6 this month. This was also lower than the consensus estimate of 250,000. Department of Labor reported that initial claims declined by 15,000 to hit a 40-year low level of 234,000 for the week ending Jan 14. (Read: Netflix Reports Solid Q4 Earnings, Subscriber Growth ) Its fourth quarter earnings of 15 cents per share and revenues of $2.478 billion were well ahead of the Zacks Consensus Estimate of 13 cents and $2.468 billion, respectively. ( NFLX ) gained 3.9% after posting stronger-than-expected fourth quarter earnings results. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. While CSX holds a Zacks Rank #2 (Buy), Union Pacific possesses a Zacks Rank #3 (Hold). These stocks led Industrial Select Sector SPDR ETF (XLI) to emerge as only gainers among S&P 500 sectors. Union Pacific Corporation's ( UNP ) shares gained 2.4% after announcing better-than-expected fourth quarter earnings results. CSX was the best performer among S&P 500 companies. Shares of CSX Corporation ( CSX ) surged 23.4% on speculation that Paul Hilal, former partner of Pershing Square, and Canadian Pacific Railway Limited's ( CP ) outgoing CEO Hunter Harrison may jointly present an offer to revamp CSX's management. Separately, shares of The Bank of New York Mellon Corporation ( BK ) declined 3% to emerge as the biggest decliner among S&P 500's financials after reporting lower-than-expected fourth quarter earnings results.
There are no signs yet of a convincing upward trend in underlying inflation." As (the) recovery will firm up, real rates will go up. ECB President, Mario Draghi said: "We have to be patient. Moreover, it also left the volume of its QE program unchanged. The central bank opted to keep refinancing operations, deposit rate and marginal lending rate untouched. Separately, European Central Bank's (ECB) decision to keep its policies unchanged also had a negative impact on investor sentiment. Though markets registered healthy gains following Trump's victory in the Presidential election, the rally has lost steam to some extent over the past few sessions on concerns over Trump's policies. Donald Trump will be sworn in as the 45 th president of the U.S. President inauguration day played a major role in dragging the major benchmarks into negative territory. For 72% stocks that declined, 25% advanced.Ĭautious stance taken by investors ahead of the U.S. Decliners outpaced advancing stocks on the NYSE. A total of around 6.3 billion shares were traded on Thursday, higher than the last 20-session average of 6.1 billion shares. The fear-gauge CBOE Volatility Index (VIX) increased 2.4% to settle at 12.78. The tech-laden Nasdaq Composite Index closed at 5,540.08, losing 0.3%. The Dow Jones Industrial Average (DJI) declined 0.4%, to close at 19,732.40. The Dow ended in the red for the fifth straight session, registering its lengthiest losing streak since last November.įor a look at the issues currently facing the markets, make sure to read today's Ahead of Wall Street article. Separately, industrials emerged as the only gainers yesterday following strong gains in rail stocks.
Investors also kept a close watch on fourth quarter earnings results. Also, ECB's decision to keep key rates unchanged had a negative impact on markets. benchmarks ended in negative territory as investors prepared themselves for Trump's inauguration as the 45 th President of the U.S.
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