Market Profile Strategies - Market recap October 14, 2016

Market Profile Strategies

Dec 30 2023 • 0 seconds

DJIA 18,138.38 +39.44points (+0.22%) S&P 500 2,132.98 +0.43 points (+0.02%) Nasdaq 5,214.16 +0.83 points (+0.02%) The stock market stages a comeback late on Friday after a downbeat performance this week. The index boosted by earning from companies in the financial sector; Citigroup (C), JP Morgan Chase (JPM), and Well’s Fargo (WFC) reported better than expected earnings. All shares gained but cannot hold on to the gain and back down under pressure of fear lingering around Deutsche Bank (DB) and a potential slowdown in lending. Core retail sales up 0.5% beat 0.4% analyst estimate, PPI up 0.3% vs. 0.2%, retail sales came out 0.6% in line with expectation, and consumer sentiment decline to 87.9 worse than 92.1 expected. Crude oil contract for November 2016 deliveries closed the day flat -0.12 points (0.24%) at $50.32. The price up $0.77 compared to last week close $49.55. European stock market closed higher following good China PPI data also stronger than expected inflation data from U.S market. UK FTSE up 35.81 points (0.51%) to 7,013.55, DAX up 166.31 points (1.60%) closed at 10,580.38, and Euro STOXX 600 up 4.33 points (1.29%) closed at 339.95. Viacom (VIA) reportedly hired financial advisers to examine potential of merger with CBS Corp (CBS) . The company hired Morgan Stanley, Allen & Company, and LionTree LLC to help in evaluation. Hershey (HSY) on hunting spree after announcement its CEO John Bilbrey will retire nexy year on 1 July. Monster Beverage (MNST) announced the stock split of 3 to 1 on Friday. New shares distributed on 9 November to the shareholders recorded on 26 October. Freeport McMoran (FCX) plan to sell its California oil and gas properties for $742 million, the fund from the sale will be used to pay debt. The deal expected to be fulfilled on December 2016.



SOURCE : https://tradertalks-net.translate.goog/s/13226?_x_tr_sl=auto&_x_tr_tl=en&_x_tr_hl=auto&_x_tr_pto=wapp

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