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XLE

Energy Select Sector SPDR

$68.54

1.71 (2.56%)

, XLB

S&P Select Materials SPDR

$59.14

0.9 (1.55%)

12:20
03/21/18
03/21
12:20
03/21/18
12:20

Technical Take: S&P 500 hits session high at midday

The S&P 500 (SPX) was last at 2728.82, just below the high set today at 2730.31. This puts price just above the pivot high for the day at 2727.665. Energy (XLE) and Materials (XLB) are broadly outperforming all other sectors. Consumer Staples (XLP) remains weak. Support is at the pivot low for the day at 2713.495, which is just above the session low of 2712.39. If the perception from the Fed is one of relative dovishness, the next significant resistance level is at the 2750 area.

XLE

Energy Select Sector SPDR

$68.54

1.71 (2.56%)

XLB

S&P Select Materials SPDR

$59.14

0.9 (1.55%)

SPY

SPDR S&P 500 ETF Trust

$271.94

0.9865 (0.36%)

SPX

S&P 500

XLE Energy Select Sector SPDR
$68.54

1.71 (2.56%)

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.
XLB S&P Select Materials SPDR
$59.14

0.9 (1.55%)

SPY SPDR S&P 500 ETF Trust
$271.94

0.9865 (0.36%)

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

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

TODAY'S FREE FLY STORIES

GM

General Motors

$37.77

-1.165 (-2.99%)

06:21
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Periodicals
GM Korea, union enter fresh round of talks to stave off bankruptcy, Reuters says »

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VIVHY

Vivendi

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Vivendi weighs listing of Universal Music Group, NY Post says »

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PM

Philip Morris

$85.65

-15.86 (-15.62%)

06:19
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UGI

UGI Corporation

$45.80

0.045 (0.10%)

06:19
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UGI Corporation rating change  »

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DB

Deutsche Bank

$14.46

0.015 (0.10%)

, DBOEY

Deutsche Boerse

06:15
04/20/18
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06:15
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06:15
Periodicals
Deutsche Bank blames 'operational error' for accidental EUR28B transfer, FT says »

Deutsche Bank (DB) has…

DB

Deutsche Bank

$14.46

0.015 (0.10%)

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SWK

Stanley Black & Decker

$154.68

-2.715 (-1.73%)

06:12
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Hot Stocks
Stanley Black & Decker executed equity derivative deal to lock buyback pricing »

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PG

Procter & Gamble

$74.98

-2.4928 (-3.22%)

06:12
04/20/18
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06:12
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Procter & Gamble rating change  »

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SWK

Stanley Black & Decker

$154.68

-2.715 (-1.73%)

06:08
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06:08
Hot Stocks
Stanley Black & Decker CEO say Q1 organic growth up 4% »

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MAT

Mattel

$13.44

-0.45 (-3.24%)

06:08
04/20/18
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Hot Stocks
Ancestry names Margo Georgiadis as CEO »

Ancestry announced that…

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  • 26

    Apr

CLNE

Clean Energy

$1.64

-0.015 (-0.91%)

06:07
04/20/18
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06:07
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06:07
Hot Stocks
Clean Energy to build three CNG stations in Ontario for Union Energy Solutions »

Clean Energy Fuels has…

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ADMS

Adamas Pharmaceuticals

$27.68

1.82 (7.04%)

06:06
04/20/18
04/20
06:06
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06:06
Recommendations
Adamas Pharmaceuticals analyst commentary  »

Adamas positioned for…

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SWK

Stanley Black & Decker

$154.68

-2.715 (-1.73%)

06:06
04/20/18
04/20
06:06
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06:06
Earnings
Stanley Black & Decker backs FY18 adj. EPS view of $8.30-$8.50, consensus $8.43 »

Management is revising…

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  • 20

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ROP

Roper Technologies

$279.93

0.195 (0.07%)

06:05
04/20/18
04/20
06:05
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06:05
Earnings
Breaking Earnings news story on Roper Technologies »

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  • 20

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RF

Regions Financial

$18.15

0.25 (1.40%)

06:04
04/20/18
04/20
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06:04
Hot Stocks
Regions Financial sees gain of $200M from sale of Regions Insurance subsidiary »

Subsequent to the end of…

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ROP

Roper Technologies

$279.93

0.195 (0.07%)

06:04
04/20/18
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06:04
Earnings
Roper Technologies raises FY18 adj EPS view to $11.08-$11.32 from $10.88-$11.20 »

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CYD

China Yuchai

$22.31

-0.68 (-2.96%)

06:03
04/20/18
04/20
06:03
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06:03
Hot Stocks
China Yuchai announces 800 buses exported to Saudi Arabia »

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BCS

Barclays

$12.26

0.045 (0.37%)

06:03
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Hot Stocks
FCA, PRA conclude investigations into Barclays, CEO Jes Staley »

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SWK

Stanley Black & Decker

$154.68

-2.715 (-1.73%)

06:03
04/20/18
04/20
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06:03
Earnings
Stanley Black & Decker reports Q1 EPS ex-items $1.39, consensus $1.36 »

Reports Q1 revenue $3.2B,…

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ROP

Roper Technologies

$279.93

0.195 (0.07%)

06:03
04/20/18
04/20
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06:03
Earnings
Roper Technologies reports Q1 adjusted EPS $2.61, consensus $2.49 »

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PM

Philip Morris

$85.65

-15.86 (-15.62%)

06:02
04/20/18
04/20
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06:02
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  • 28

    May

RF

Regions Financial

$18.15

0.25 (1.40%)

06:02
04/20/18
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06:02
Hot Stocks
Breaking Hot Stocks news story on Regions Financial »

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  • 20

    Apr

STI

SunTrust

$66.98

1.555 (2.38%)

06:02
04/20/18
04/20
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06:02
Earnings
SunTrust reports Q1 EPS $1.29, consensus $1.11 »

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  • 20

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PG

Procter & Gamble

$74.98

-2.4928 (-3.22%)

06:02
04/20/18
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06:02
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Procter & Gamble rating change  »

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  • 27

    Apr

RF

Regions Financial

$18.15

0.25 (1.40%)

06:00
04/20/18
04/20
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06:00
Earnings
Regions Financial reports Q1 cont ops EPS 35c, consensus 31c »

Reports Q1 revenue $1.4B,…

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  • 20

    Apr

LEVL

Level One

06:00
04/20/18
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06:00
Syndicate
Level One 1.2M share IPO priced at $28.00 »

The deal size was…

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