Market Performance Summary for Wednesday, January 21, 2015
Wednesday was another day of modest gains for the stock markets, the DJIA closed up +39.05 points or +0.22% to 17,554.28, the S&P500 closed up +9.57 points or +0.47% to 2,032.12, the S&PMidCap400 closed up +8.70 points or +0.61% to 1,435.72. The VIX had another mini implosion of -5.23% or 1.04 points to close at 18.85. Treasuries (both conventional and inflation linked) were mostly down. XLE an etf of many energy sector related stocks closed up +2.03% to 76.85, as oil rallied to close at 47.50 per barrel, etf ticker USO matching the performance of West Texas Intermediate closed up +1.66% to 17.77. BP was up +3% to 38.82, BPT was up +4.73% to 77.55, PBR was up +7.93% to 7.35, HAL was up +2.16% to 40.69, and RIG was up +4.42% to close at 16.06. RSX an etf matching the performance of the Market Vectors Russia Index closed +3.56% to 15.42, CUBA closed up +3.36% to 9.23. Coffee matched by etf JO was down -2.27% to 29.32.
In other news IBM was down -3.10% to close at 152.09 missing its EPS consensus estimates, and NFLX closed up +60.48 or +17.34% to 409.28 easily topping its EPS consensus estimates.
There are rumors of an official announcement tomorrow by the ECB’s Mario Draghi in that he will announce at (noon European time) 58 billion euro per month (for at least 12 months) stimulus programme for Europe, to combat deflation. If I had to guess, the market will receive that news well.
Other news tonight includes that as of 10:06pmCT Asian stocks are up across the board +0.2 to +0.4 percent, and S&P Futures vs. Fair Value is indicating an implied open of +32.72 for the DJIA and +3.98 for the S&P500.
By Andrew G. Bernhardt
Bernhardt Capital Management LLC 