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XLY

Consumer Discretionary Sector SPDR

$106.27

-0.53 (-0.50%)

, XLE

Energy Select Sector SPDR

$69.74

0.53 (0.77%)

10:08
02/27/18
02/27
10:08
02/27/18
10:08

Technical Take: S&P 500 edges into the red after first half hour of trading

The S&P 500 (SPX) was last at 2779.57, just edging into the red. Price movement has been within an extremely narrow range relative to recent weeks, touching resistance at the 2784 area and making a low at 2776.80. Sector breadth is mixed and flattish with the only two standout sectors being Energy (XLE) on the upside and Consumer Discretionary (XLY) on the downside. Resistance is now at the high of the day at 2784.08 and then at the 2800 area. Support below the low of the day is at the 2770 area.

XLY

Consumer Discretionary Sector SPDR

$106.27

-0.53 (-0.50%)

XLE

Energy Select Sector SPDR

$69.74

0.53 (0.77%)

SPY

SPDR S&P 500 ETF Trust

$277.97

0.07 (0.03%)

SPX

S&P 500

$0.00

(0.00%)

XLY Consumer Discretionary Sector SPDR
$106.27

-0.53 (-0.50%)

09/25/17
MSCO
09/25/17
DOWNGRADE
MSCO
Underweight
Consumer discretionary sector downgraded to Underweight at Morgan Stanley
Morgan Stanley equity strategist Michael Wilson said he expects the next phase of the "reflation trade" to coincide with outperformance for small caps, banks, and energy and he expects the consumer discretionary sector to underperform. The strategist, who downgraded the consumer discretionary sector to underweight, noted that on a median basis the relative performance of the sector tends to peak 42 months before a recession. While the low relative multiples in much of the sector reflect well understood structural pressures, there is room for multiples to fall further when the cycle turns, he tells investors.
XLE Energy Select Sector SPDR
$69.74

0.53 (0.77%)

10/03/17
MSCO
10/03/17
NO CHANGE
MSCO
Energy sector upgraded to 'Attractive' at Morgan Stanley
Morgan Stanley analysts led by Martijn Rats upgraded the Energy sector to "Attractive," saying they see increasingly clear signs that oil prices and production costs are near to finding a new equilibrium and that the sector's 6-year bear market is set to come to an end. Oil demand continues to grow well above historical trend rates and the downstream outlook is "outright strong," the team tells investors. In developed markets, the best positioned to benefit are downstream focused firms and high yielding majors, such as Shell (RDS.A), BP (BP) and Repsol (REPYY), the analysts said.
SPY SPDR S&P 500 ETF Trust
$277.97

0.07 (0.03%)

04/10/17
MSCO
04/10/17
NO CHANGE
MSCO
Morgan Stanley sets S&P 500 'base case' price target of 2,700
Morgan Stanley U.S. Equity Strategist Michael Wilson set a 12-month "base case" price target of 2,700 for the S&P 500, stating that market technicals are in "very good shape" and institutional and retail data suggest U.S. equity positioning is not extreme. A cyclical upturn began a year ago as the global business cycle bottomed in Q1 of 2016 and President Trump's election then "turbocharged" that cycle, said Wilson.
06/28/17
GSCO
06/28/17
NO CHANGE
GSCO
S&P 500 price target raised to 2,400 from 2,300 at Goldman Sachs
Goldman analyst David Kostin raised his S&P 500 earnings estimate to $129 from $123 in 2017 and to $139 from $129 in 2018 to reflect strong Q1 results and higher expected growth in Financials and Info Tech. Kostin raised his year-end S&P 500 price target to 2,400 from 2,300 to reflect earnings growth of 9%, offset by a 4% contraction in the forward multiple.
12/11/17
OPCO
12/11/17
NO CHANGE
OPCO
Oppenheimer initiates S&P 500 price target of $3,000 in 2018 on outlook
Oppenheimer has initiated an S&P 500 price target of $3,000 in 2018 as it believes the fundamentals - both economic growth and corporate earnings - will likely improve further in 2018. Its price target and earnings estimate do not include any assumptions about what tax reform might ultimately look like.
SPX S&P 500
$0.00

(0.00%)

03/08/17
03/08/17
NO CHANGE

David Tepper says stock market on multiple basis 'kind of full'
Appaloosa Management's David Tepper is speaking in CNBC.
01/23/18
BOFA
01/23/18
NO CHANGE
BOFA
S&P 500 2018 year target raised to 3,000 from 2,800 at BofA/Merrill

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-0.14 (-0.59%)

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COP

ConocoPhillips

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  • 26

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FSUMY

Fortescue Metal

$0.00

(0.00%)

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PEP

PepsiCo

$112.95

0.23 (0.20%)

, DISH

Dish

$32.75

-0.84 (-2.50%)

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PepsiCo to replace Dish in Nasdaq-100 index effective July 23rd »

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Dish

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MTW

Manitowoc

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-0.52 (-1.89%)

, CAT

Caterpillar

$138.06

-2.68 (-1.90%)

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Manitowoc

$26.99

-0.52 (-1.89%)

CAT

Caterpillar

$138.06

-2.68 (-1.90%)

DE

Deere

$136.19

-1.41 (-1.02%)

GNRC

Generac

$52.40

-0.585 (-1.10%)

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CZR

Caesars

$11.63

0.075 (0.65%)

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Conference/Events
Morgan Stanley telecom analyst to hold an analyst/industry conference call »

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CAAP

Corporacion America Airport

$9.87

0.08 (0.82%)

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RIO

Rio Tinto

$53.64

-0.36 (-0.67%)

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  • 10

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CDMO

Avid Bioservices

$4.46

-0.19 (-4.09%)

, IGT

International Game

$24.39

-0.5 (-2.01%)

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Avid Bioservices

$4.46

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IGT

International Game

$24.39

-0.5 (-2.01%)

BGS

B&G Foods

$29.80

-0.2 (-0.67%)

AG

First Majestic

$7.44

-0.265 (-3.44%)

NFLX

Netflix

$400.24

4.32 (1.09%)

ROKU

Roku

$48.27

-0.52 (-1.07%)

AVEO

Aveo Pharmaceuticals

$2.85

-0.055 (-1.90%)

EOLS

Evolus

$25.08

-1.12 (-4.27%)

TRQ

Turquoise Hill

$2.94

0.11 (3.89%)

CARB

Carbonite

$38.40

-0.1 (-0.26%)

RDFN

Redfin

$23.99

0.46 (1.96%)

NAKD

Naked Brand Group

$4.95

-0.15 (-2.94%)

MTW

Manitowoc

$26.99

-0.52 (-1.89%)

AMZN

Amazon.com

$1,822.02

9.02 (0.50%)

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T

AT&T

$31.90

0.24 (0.76%)

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  • 24

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SBGI

Sinclair Broadcast

$29.10

-3.9 (-11.82%)

, TRCO

Tribune Media

$32.05

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SBGI

Sinclair Broadcast

$29.10

-3.9 (-11.82%)

TRCO

Tribune Media

$32.05

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  • 08

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DE

Deere

$136.19

-1.41 (-1.02%)

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CAT

Caterpillar

$138.06

-2.68 (-1.90%)

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  • 30

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RIO

Rio Tinto

$53.64

-0.36 (-0.67%)

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  • 10

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NFLX

Netflix

$400.24

4.32 (1.09%)

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  • 16

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NFLX

Netflix

$400.24

4.32 (1.09%)

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  • 16

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IBM

IBM

$145.43

-0.48 (-0.33%)

, GRPN

Groupon

$4.70

0.025 (0.53%)

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IBM

$145.43

-0.48 (-0.33%)

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Groupon

$4.70

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  • 18

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LGF.A

Lionsgate

$25.33

-0.58 (-2.24%)

, LGF.B

Lionsgate

$23.85

-0.69 (-2.81%)

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LGF.A

Lionsgate

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-0.58 (-2.24%)

LGF.B

Lionsgate

$23.85

-0.69 (-2.81%)

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  • 09

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GNRC

Generac

$52.40

-0.585 (-1.10%)

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MTW

Manitowoc

$26.99

-0.52 (-1.89%)

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NFLX

Netflix

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4.32 (1.09%)

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  • 16

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