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The SPX +102.56 opened higher and closed higher rising 47 points after the Fed announced their rate hike two hours before the close. /CL and GLD closed higher, while DXY, TLT and TXN moved lower.
The FOMC meets raised rates 0.75% as expected.
175 SPX companies report EPS this week: NEM, BRO, CDNS, FFIV, NEM, NXPI, PKG, UHS, WHR/ Tue: ADM, CNC, ECL, FISV, GE, GLW, GM, KMB, KO, MCD, MCO MMM, MSCI, NVR, PCAR, PHM, PNR, RTX, UPS, AMP, BXP, CB, CMG, ENPH, EQR, ESS, FE, GOOG, GOOGL, IEX, JNPR, MDLZ, MSFT, SYK, TER, TXN, UDR, V, ZION/ Wed: ADP, AEP, APH, AVY, BA, BMY, BSX, CME, GD, GPC, GRMN, HES, HLT, HUM, IVZ, KHC, LW, NSC, ODFL, OTIS, ROK, ROL, SHW, TDY, TEL, TMUS, WM, ALGN, AVB, AWK, CHRW, CINF, CTSH, DRE, EQIX, ETSY, F, FBHS, FTI, GL, HOLX, LRCX, MAA, META, MOH, NOW, ORLY, PTC, QCOM, RE, RJF, TYL, URI, VICI/ Thu: ALLE, AMT, AOS, BAX, BEN, CARR, CMCSA, CMS, DTE, FTV, HON, HSY, IP, KDP, KIM, LH, LIN, LKQ, LUV, MA, MAS, MLM, MO, MRK, NLSN, NOC, PFE, RCL, SO, SWK, TFX, TMO, TROW, TXT, VLO, WST, WTW, XEL, AAPL, AJG, AMZN, BIO, CE, CPT, DLR, DXCM, EIX, EMN, ES, EW, HIG, INTC, KLAC, LHX, MHK, MTD, VFC, VRSN, WELL/ Fri: ABBV, AON, CBOE, CHD, CHTR, CL, CVX, GWW, LYB, NWL, PG, PSX, WY, XOM
First day reactions this week:
Positive: ENPH, CMG, ROK GOOGL,
HLT, ADP, AVY, APH, MSFT, TXN, BSX, AMP,
TMUS, OTIS, TEL, SYK, EQR, WM, LW, IEX, GPC, BXP, BMY, ZION, HES, ESS, MDLZ,
GD, MMM, GE, ADM, FISV, MCD, FFIV, MCD, PNR WHR, CDNS KO, CNC, GLW, PCAR, MSCI
= 43, QTD = 83
Neutral: UDR, FE, ODFL, BA, AEP, TER, NSC, IVZ, CB, V, KMB, NXPI, UHS
Negative: SHW, GRMN, TDY, KHC, CME, HUM, ROC, JNPR, PKG, RTX, PHM, GM, UPS, ECL, NVR, MCO, BRO, NEM = 18, QTD = 53
SPY up 10.15 at 401.04, on 82.3
million shares, above average volume, up on higher volume.
VIX down 1.45 at 23.24
QQQ up 12.44 at 306.81
The two-year trend term is up. The one-year trend down.
All eleven sectors were higher on Wednesday, led by XLK, XLC and XLY.
Advancers strengthened on Wednesday as advancers led 2,678 to 545 on the NYSE and led 3,500 to 1,043 on the NASDAQ.
The SPY MFC green line is pointed up at 73.5 and is short-term bullish. SPY bounced and closed above short-term resistance.
The 6-month intermediate trend is down. The ten-day trend is up.
91 of 100 NDX stocks closed higher on Wednesday.
85 NDX stocks are above their 30 DMA: SGEN, MNST, VRTX, AZN, COST, DXCM, OKTA, ORLY, KDP, PEP, VRSK, AMGN, SIRI, VRSN, AAPL, CDNS, CPRT, IDXX, CTAS, QCOM, TSLA, ADI, CHTR, ROST, SWKS, TXN, ALGN, AMZN, ATVI, CMCSA, FISV, ISRG, MCHP, MU, NFLX, NXPI, ODFL, SNPS, INTC, KLAC, SPLK, ABNB, ADBE, ADP, ADSK, AMAT, AMD, ANSS, ASML, AVGO, CSCO, CSX, EBAY, INTU, LRCX, MAR, MDLZ, MELI, MRVL, NVDA, PAYX, PCAR, PYPL, CTSH, EA, ILMN, NTES, HON, AEP, EXC, XEL, JD, TMUS, BIIB, BKNG, CRWD, DOCU, GOOGL, LULU, META, MSFT, MTCH, OKTA, TEAM, WBA, WDAY,
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