Tag Archives: Small Cap

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Stocks Mixed On Huge Earnings Day

U.S. stocks traded mixed on Tuesday as one of the busiest days of the earnings season got under way.

The Dow Jones industrial average traded slightly lower, with Procter & Gamble contributing the most gains to the tune of 20 points, but Home Depot shaved off approximately 20 points. The S&P 500 fell 0.1 percent, with consumer discretionary leading decliners. The Nasdaq composite held around breakeven.

More than 90 companies were scheduled to post quarterly results on Tuesday. Dow components 3M, Caterpillar and DuPont reported earnings before the bell. Caterpillar and 3M posted mixed results, as both beat estimates on the bottom line, while missing on revenues. Caterpillar also lowered its 2016 earnings per share guidance.

Coming Up:

Tuesday

Earnings:

ATB: Apple, AT&T, Chipotle Mexican Grill, Capital One, Discover Financial, Express Scripts, Juniper Networks, Vertex Pharma, iRobot, Pandora Media, Panera Bread, Owens-Illinois

9 a.m.: Case-Shiller Home Price Index

9 a.m.: FHFA Home Price Index

10 a.m.: Consumer confidence

1 p.m.: $26 billion two-year Treasury note auction

Wednesday

8:30 a.m.: U.S. trade deficit

9:45 a.m.: Markit services PMI

10 a.m.: New home sales

1 p.m.: $34 billion five-year Treasury note auction

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Oil Drops, Stock Recover From Session Lows

U.S. equities traded in a wide range on Tuesday as U.S. oil prices seesawed and investors looked ahead to Fed Chair Janet Yellen’s testimony.

The small-cap/penny stock Russell 2000 index was lower by 1% midday.

WTI futures slipped 4.8 percent, or $1.45, to trade at $28.44 a barrel in choppy trading. Earlier, the International Energy Agency said that demand for oil will “ease back considerably” in 2016.

The S&P 500 dropped nearly 1 percent at the open, led lower by energy, before briefly turning positive.

The Nasdaq composite seesawed, opening down more than 1 percent, before reversing losses and gaining about 1 percent. The index sat lower in midday trading.

Nasdaq Turns Positive for 2015

Stocks traded about 1% higher Monday, attempting to further a recent recovery from correction levels, as investors awaited earnings and concerns from Friday’s jobs report on the timing of a rate hike.

The Dow Jones industrial average gained more than 100 points.

The Nasdaq composite came back into positive territory for 2015. The Dow and S&P500 stayed in negative territory for the year so far.

All three major averages gained to come within 10 percent of their 52-week highs, out of correction territory. The small-cap Russell 2000 remained in correction mode, about 12 percent from its 52-week high.

Russell 2000 Higher and at a Very Important Level

Small-Caps and penny stocks just turned positive as the Russell 2000 moved into the green just after noon. At the opening, the small stock index opened lower and continued lower before bouncing off its intra-day low just above 1,143.

It is now at 1,153 which is a critical point. If the Russell breaks above that price, there will be some support there. That will make it easier to move higher before it hits a significant technical and psychological resistance level near 1,200.

Russell 2000 on Yahoo! Finance

Russell Microcap Stock Index

The one-day chart for Thursday, September 11 shows the reversal of losses in Small Cap and Micro Cap stocks which continued and led U.S. stocks higher.

Gains on Wall Street were led by small-cap stocks on Thursday. Trading was choppy, as an unexpected increase in weekly jobless claims and lower commodities prices encouraged investors to remain cautious.

“I think tomorrow will be focused on economic data unless something happens overnight,” Mark Luschini, CIO at Janney Montgomery Scott, said. “In general there’s the sense the market is wandering a bit and struggling to find a connection to it.

Low oil prices helped transports gain and helped stocks turn positive.

Next week, investors will turn their focus to the Federal Reserve meeting and other events.

“The market is in a quiet phase ahead of the Fed next week and the Scotland, UK vote,” Peter Boockvar, Market Analyst at The Lindsey Group. “The market’s just very reactive, not proactive, which makes it hard to trade.”

S&P 500: Best August in 14 Years, Small Caps and Micro Caps Gain

As it usually is for the day before a holiday weekend, trading was light as stocks overall posted modest gains across the board.

Small Cap and Micro Cap indexes posted higher percentage gains with the Russell Micro Cap up 0.84% and the Russell 2000 (Small Cap) up 0.72% for the day.

“The U.S. economy continues to show strength, and deflation in Europe is getting worse, and spreading through the euro zone, as we saw in CPI numbers today, which brings us back to the fact that sooner or later (European Central Bank President Mario) Draghi is going to have to use some sort of quantitative easing. That’s a positive, also for U.S. stocks,” said Cardillo.

“The drug effect of liquidity in the marketplace continues to be the positive factor,” Cardillo added.