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Weekly Market Recap. April 2-6, 2018

JT001

08-Apr-2018 15:35 PM

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If you missed this past week U.S.. stock movers and news. Here is the day by day recap.

U.S.. Market gap down on Monday tariff trade war with China. Economy data ISM manufacturing index hits 59.3in March; construction spending up 0.1% in February. Dow Jones from -700 points day down to recovery at close -459.40 points. SPY -2.14%, QQQ -2.89%, IWM -2.37$ and IBB -3.95%.

Tuesday Dow up +389.17 points,  SPY+1.27%, QQQ +1.13%, IWM +1.40% and IBB +0.37%

Wednesday Dow Jones dropped -500 points at the opening bell, fear of Trade wars with China. The economic data: Crude Oil inventories -4.617M vs 1.40M, ISM non-manufacturing PMI 58.8M vs 59.0 and Factory Order 1.2% vs 1.7%. Dow Jones from -500 points at opened to +230.94 points at closed; 700 points turnaround day.

Thursday U.S market follow through with Dow +300 points. Economic data: Initial Jobless Claims 242k vs 225k, Trade balance for Feb -57.60B vs -56.90B. Dow Jones up+239.47 points at closed. SPY +0.77%, QQQ +0.57% , IWM +0.81%, IBB -1.62%

Friday U.S. stock market plunges with Down Jones dropped -700 points intraday, but end with -572.46 points. The ETFs: SPY -2.23%, QQQ -2.50%,IWM -1.99% and IBB -301%. Four out of five trading day this past week with fear of trade wars tension heat up between U.S vs China.

Monday:

  • Alkermes Plc (ALKS) announces FDA refusal file to letter ALKS 5461. Stock down -21.96%
  • Tesla Inc (TSLA)  stock down -7% intraday, Elon Musk tweeted April fool joke of company going bankruptcy yesterday. Stock close at 252.48 or -5.13%
  • Intra-Cellular Therapies (ITCI) receives Refusal to File letter. Stock down -7.96% to $19.38
  • Amazon.com (AMZN) Stock plunges from POTUS tweet, threaten to make the changes. Stock down -5.21$ close at 1,371.99

Tuesday:

  • Tesla Inc (TSLA)- first quarter production totaled 34,494 vehicles, 40% increase from previous quarter. Stock up +5.96% to $267.53
  • Spotify Technology SA (SPOT)- IPO debuted opened at $165.90 and closed at $149.01 or up +12.89%
  • Amazon.com (AMZN)- White House said no action talk against AMZN, despite POTUS tweet

Wednesday:

  • Cloudera (CLDR) earning missed
  • Tenax Therapeutics (TENX)- FDA says p2 protocol for levosimendan can be submitted under IND. Stock up 24.91%
  • Tesla Inc (TSLA) reversal stock from 252.00 low to high 288.37. Close up +7.26%

Thursday:

  • Intercept Pharmaceuticals Inc (ICPT)-  2.3M spot secondary priced at $64.00
  • Conatus Pharmaceutic (CNAT( fails Phase II study
  • Finisar (FNSR) stock upgrade to Overweight by Morgan Stanley

Friday:

  • Newlink Genetics Corporation (NLNK)- review clinical programs after INCY and MRK data
  • Incytte Corp (INCY) study did not meet the primary endpoints

Thanks for reading.

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