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Weekly Market Recap. April 9-13, 2018

JT001

13-Apr-2018 21:10 PM

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   This week, the big headline everywhere is geopolitical tension in Syria, will there be a war coming? Then the tariff trade war between U.S. Vs China. The tariff trade war was at ease this week, after China President Xi' speak last week. The 2018 year is full of unexpected events with S&P 500 volatile move +/-1% almost daily. Here are the most notable news and stocks movers for this week. 

Monday started out with ease tension trade war fear between U.S. Vs China. Strong sector leading the rallies was biotech from merger and acquisition. Dow Jones +46.34 points, SPY +0.49%, QQQ +0.70% and IBB +1.82%.

   Tuesday U.S. stock market rallied in premarket after China President Xi' speech to ease on trade tension and more open to the world. Economic data Wholesale Inventories 1.0% vs 0.8%, PPI 0.3% vs 0.1%. Dow up +428.90 points, SPY +1.57%, QQQ +2.21%, IWM +1.85%, IBB +2.75%

   Wednesday U.S. economy data: Crude Oil Inventories 3.306M, and Core CPI 0.2% vs 0.2%. In premarket geopolitical tension, fear in Syria with POTUS warned missiles is coming. Dow Jones -218.27 points,  SPY -1.44%, QQQ -0.93%, IWM +0.33%, IBB -0.37%.

   Thursday economic data Initial Jobless Claims 233k vs 231k, Import Price Index 0.0% vs 0.2%

   Friday started off with U.S. market with banks earnings report and economy data JOLTs 6.052M vs 6.110M. Market reversal from Dow up 100 points premarket to close down -122.46 points, QQQ -0.84%, IWM -0.50 %, SPY -0.31% and IBB --0.71%.

Monday:

  • Novartis AG (NVS) enters a deal to acquire gene therapy company AveXis (AVXS) for $8.7 billion
  • ACADIA Pharmaceuticals Inc (ACAD) stock dropped after CNN report on patients deaths and Nuplazid
  • Menlo Therapeutics  Inc (MNLO) Phase II did not meet its primary endpoints. TradersFish #BiotechCalculator predicted right on 4.3.18

Tuesday:

  • Energous Corp (WATT) company said the Federal Communications Commission has certified the company's near-field transmitter
  • Facebook (FB) Mark Zuckerberg to testify at Congress. Stock up +4.50%
  • Spectrum Pharmaceuticals Inc (SPPI) Phase 2 data of poziotinib update, stock up +41.90%
  • Verifone Systems (PAY) to be acquired by Francisco Partners for $23.04/share or $3.4B

Wednesday:

  • CymaBay Therapeutics Inc (CBAY) reports new results from ongoing Phase 3 study of seladelpar
  • Netflix Inc (NFLX) price target raised to $325 from $275 at Cowen
  • Aerovironment (AVAV) upgraded to Buy with $65 target at Stifel

Thursday:

  • Bellicum Pharmaceuticals Inc (BLCM) clinical hold lifted. Stock rallies
  • Bed Bath and Beyond (BBBY) rEPORT q4 eps $1.40 VS $1.39, revenue $3.7B Vs $3.68B,
  • Shire Plc Ads (SHPG) stock continues to rise with Takeda rumor

Friday:

  • JPMorgan Chase &Co (JPM( Q1 EPS $2.37 vs $2.38. Stock sell the gap and down -2.71%
  • Tesla Inc (TSLA) Stock jumped +2.13% after Musk said the company will be profitable in Q3/Q4. Stock up +2.13%
  • Netflix Inc (NFLX) - for the week stock is up +7.78% with earnings report next Monday, after market close.

 Thanks for reading our blogs, let's us know if there is anything need to improve. Comment are welcome. 

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