Afternoon Note
The market continues to grapple for traction, but mixed earnings and economic data make it tough to really get out of the gate.
Considering headline retail sales report, the action in consumer discretionary names is very intriguing. There is serious bottom fishing with big winners including:
S&P 500 Index |
-0.06% |
|
Communication Services (XLC) |
+0.18% |
|
Consumer Discretionary (XLY) |
+0.32% |
|
Consumer Staples (XLP) |
-0.05% |
|
Energy (XLE) |
-0.34% |
|
Financials (XLF) |
-0.11% |
|
Health Care (XLV) |
+0.26% |
|
Industrials (XLI) |
+0.38% |
|
Materials (XLB) |
+0.76% |
|
Real Estate (XLRE) |
-0.53% |
|
Technology (XLK) |
-0.76% |
|
Utilities (XLU) |
-0.07% |
On the flip side, technology looks ugly today with Workday (WDAY) taking it on the chin after their Investor’s Day yesterday. I’ve gone through most reports and I can’t see why selling is this intense. Meanwhile, all eyes are on Netflix (NFLX) which got hammered four of the last five earnings releases.
Other key financial releases after the bell and market reaction
Last Quarter Earnings Reaction |
One week |
One day |
NFLX |
-12.3% |
-10.3% |
IBM |
+4.9% |
+4.6% |
CSX |
-12.0% |
-10.1% |
URI |
-3.7% |
-7.9% |
Tweet |
4/26/2024 9:39 AM | BIG TECH STEPS UP |
4/25/2024 1:16 PM | Don't' Bury me, Yet! |
4/25/2024 9:27 AM | THERE CAN ONLY BE ONE |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
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