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Weekly Market Recap. April 16-20, 2018

JT001

20-Apr-2018 16:26 PM

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   In case you missed all the news and stock movers this week. Here is the recap. 

   Monday U.S. stock market opening gap up and Dow Jones close up +212.90 points, SPY +0.82%, QQQ +0.76%, IWM +0.92%, IBB -0.68%. The tension in Syria eases as investors focused on the earnings report.

   Tuesday market rallies from earning. Economy data Building permits 1.354M vs 1.33M, Housing Start 1.319M vs 1.270M and Industrial Production 0.5% vs 0.3%. For the second day of the week, Dow closes over 200 points. Dow Jones +213.59 points, SPY +1.07%, QQQ +2.15%, IWM +1.09%, IBB +1.94%. The notable leading sector was the technology with Netflix Inc (NFLX) up 9.19% for the day.

   Wednesday U.S. market choppy session led the way down was International Business Machines Corp (IBM). Dow Jones -38.56 points, SPY +0.07%, QQQ +0.20%, IWM +0.23% and IBB +0.07%.

   Thursday rise in U.S. 10Y Yield causes a concern for investors. Initial Jobless Claims 232k vs 230k. Philadephia Fed Manufacturing Index 23.2 vs 20.8. Dow Jones -83.18 points, SPY -0.56%, QQQ -0.92%, IWM -0.69%, IBB -1.36%.

   Friday market pullback with weakness from the technology sector. Dow Jones closes -201.95 points, SPY -0.85%, QQQ -1.58%, IWM -0.54% and IBB -0.88%.

Monday:

  • Celldex Therapeutics Inc (CLDX) Phase 2B METRIC did not meet primary endpoint. The #BiotechCalculator predicted right on 4/2/18

  • Bank of America Corp (BAC) earnings report, Q1 EPS 62c vs 59c
  • Dynavax Technologies Corp (DVAX)- abstract data show 40% response rate in head and neck cancer. The stock popped and faded.
  • Acacia Communications Inc (ACIA)- Commerce bans U.S. companies from selling components to ZTE.
  • Netflix Inc (NFLX) earning report link https://www.tradersfish.com/Earning/netflix-inc

Tuesday:

  • Twitter Inc (TWTR) upgraded to Equal Weight at Morgan Stanley, Price Target $29
  • Roku Inc (ROKU) rises on ESPN+ platform offering
  • Goldman Sachs Group Inc (GS) earnings report https://www.tradersfish.com/Earning/goldman-sachs-group-inc
  • Tesla Inc (TSLA) Model 3 halt a 'planned part of production' FT reports

Wednesday:

Thursday:

  • Argos Therapeutics Inc (ARGS) discontinue Phase 3 ADAPT trial
  • NVIDIA Corp (NVDA)- key Asian chip partner gives weak guidance- CNBC
  • Shire PLC (SHPG) rejected the new offer from Takeda. Shire is said to have at least one or two other bidder -CNBC
  • GW Pharmaceuticals PLC (GWPH) announces FDA advisors backing for approval of cannabidiol

Friday:

  • Twitter (TWTR) Upgraded to Buy at MKM Partners
  • Takeda (TKPYY) raises takeover offer to Shire (SHPG) GBP47.00 per share
  • Apple (AAPL) slide on Apple iPhone outlook weakens in China.

Thanks for reading. Have a great weekend

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