Tuesday Market Wrap



For the day the SPX/DOW were -0.45%, and the NDX/NAZ were -0.15%. Bonds gained 8 ticks, Crude lost 75 cents, Gold slipped $4, and the USD was higher.

Tomorrow is FOMC day! At 8:15 the ADP index, 8:30 Q2 GDP (est. +3.45%), then at 2pm the FOMC statement. Fun for all.

The big news of the day was the earnings report for Twitter after the close. They beat big and the stock is up 30% in after market trading. Congrats if you were long. I may call you for a loan.

AMGN also reported and popped $5 in the after market. There was more good news for biotech after the market closed as REGN got an FDA approval and that added $13 after the close. I would imagine that the IBB names will have a good day tomorrow.

Speaking of biotech, we sold 1/2 BIIB today at a nice profit of over 30 points and closed the position on VIPS for over 10 points.

Tomorrow is a data deluge as we have GDP and jobs. As you know, first quarter GDP was -3%, so that number better have a +3 in front of it.

SCTY looks like it wants to breakout. A continuation tomorrow would be helpful.

Meanwhile, the Russell held the uptrend line again.  See you in the morning.


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