| Author | Message | ||
     Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3564 Registered: 05-2011 Rating: N/A |
Market Briefing: Still stuck in consolidation mode 1.There has been a shift in the trading tone today, as growth stocks are pushing ahead while value stocks are moving in reverse. Neither factor, though, is moving to any great degree. 2.Still, it's a stretch to say there is a lot of conviction at the moment. The market's own fickle behavior -- down one day, up the next; value leads one day, growth the next -- has perhaps been a turn off to market participants, who are choosing to focus on other pursuits for the time being as the market remains in consolidation mode. 3.The S&P 500, at its current level, is essentially flat versus a month ago when the better-than-expected Q1 earnings reports were hitting in droves. Today is a microcosm of the same action. 4.Walmart (WMT 142.05, +3.16, +2.3%), Home Depot (HD 316.89, -3.12, -1.0%), and Macy's (M 19.34, +0.19, +1.0%) all reported much better-than-expected results and provided reassuring guidance, yet the broader market has been unmoved by their reports. 5.The "stall factor" is apt to be pinned in part on a weaker-than-expected Housing Starts report for April that played into the "peak growth" narrative. |