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Weekly Market Recap. March 26-29, 2018

JT001

29-Mar-2018 20:05 PM

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     In case you missed the market economy data and stock movers news this week. Here are the recap.

     Monday U.S. market opening gap up with Dow soared 669.40 points into the closed. SPY +2.74%, QQQ +3.72%, IBB +2.68%, and IWM +2.19% at day closed. Market sees trade war ease tension on Monday, notable leader in bounce are from the technology sector.

     Tuesday economic data. Consumer confidence hits 127.7 in March vs exp 131. Tech stocks selling second half of trading day, QQQ -3.24%, SPY -1.64%, IWM -1.94%, IBB -2.77%, and Dow Jones -344.96 points.

     Wednesday economic data GDP 2.9% vs 2.7%, and GDP Price Index (Q0Q) 2.3% vs 2.3%.

     Thursday consumer sentiment hits 101.4 in March vs 102 estimate. Dow Jones up +254.69 points, SPY +1.28%, QQQ +1.83%, IWM +1.01%, IBB +0.72.  Tech sector bounced as the week end from two days slump, most notable are from the so called F.A.N.G = Facebook (FB:NASDAQ) +4.42%, Amazon.com (AMZN:NASDAQ) +1.11%,, Netflix Inc (NFLX:NASDAQ +3.35%), and Alphabet Class A (GOOGL:NASDAQ) +3.18%.

Monday:

  • Protagonist Therapeutics Inc (PTGX) discontinue phase 2b PROPEL study
  • Biovaen Pharmaceutical Holing (BHVN) P3 clinical trials for migraine met efficacy endpoint. Stock reversal off low to -7.27% closed.
  • Facebook (FB) stock plunges after FTC confirms it's investigating data practices. went from -5% to +0.42% closing at $160.06 green.

Tuesday:

  • NVDIA Corp (NVDA) investor day and suspends it self driving tests
  • LongFin Corp (LFIN)  Stock getting hit by short seller
  • Twitter Inc (TWTR) short seller hit
  • Tesla Inc (TSLA) one hedgefund say bankruptcy in four months
  • Apple Inc (APPL) new iPad for students

Wednesday:

  • Lululemon Athletica Inc (LULU)- earning report beat https://www.tradersfish.com/Earning/lululemon-athletica
  • Amazon.com (AMZN:NASDAQ) Axio report that president Trump want to go after e-commerce giant
  • bluebird bio (BLUE:NASDAQ) and Celgene Corp  (CELG:NASDAQ) enter collaboration agreement
  • Shire PLC (SHPG) Takeda confirms takeover offer for Shire under consideration

Thursday:

  • iQiYi  (IQ:NASDAQ) Inc IPO at $18.20 per share. Stock down -13.61%. 
  • Lululemon Athletica Inc (LULU:NASDAQ)  second day rallies after earning report beat. Stock up +3.68%
  • Under Armour Inc (UA:NYSE)- data breach 150 million peoples. Stock down-1.74% after hours.

****Reminder market will closed on Friday, March 30, 2018 for Good Easter. Have a great three days weekend.

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