Market Perspective for February 25, 2019

The Nasdaq led Monday with a gain of 0.36 percent. SPDR Technology (XLK) climbed 0.48 percent. Industrials and material sectors extended their strong performances, with SPDR Industrial (XLI) adding 0.39 percent. SPDR Materials (XLB) advanced 0.65 percent.

Merger and acquisition activity boosted the biotechnology sectors. Roche offered $4.8 billion for Spark Therapeutics (ONCE), more than 120 percent higher than its closing price on Friday. SPDR S&P Biotech (XBI) rallied 4.42 percent.

December housing starts, building permits and January pending home sales will be released this week. The Conference Board will report February consumer confidence, which is expected to increase. The first and second estimate of first quarter GDP will be out on Thursday. Economics forecast 2 percent growth. Manufacturing PMIs will be out on Friday, along with the University of Michigan’s consumer sentiment survey.

Interest rates edged higher on Monday. The 10-year Treasury yield closed at 2.67 percent. High-yield, floating-rate and corporate bonds edged higher on the day.

iShares China Large Cap (FXI) gained 1.97 percent and Deutsche X-Trackers CSI 300 A-Share (ASHR) popped 6.27 percent. iShares MSCI Emerging Markets (EEM) added 1.09 percent.

Retail earnings season kicks into high gear this week with Home Depot (HD), Lowe’s (LOW), Autozone (AZO), Best Buy (BBY), Gap Inc. (GPS), L Brands (L), Foot Locker (FL), Macy’s (M) among the big names reporting. Express Scripts (ESRX), EOG Resources (EOG), Booking Holdings (BKNG), American Tower (AMT), Campbell Soup (CPB), Anheuser-Busch (BUD), Autodesk (ADSK), Ambev (ABEV) will also deliver quarterly results this week.


    Your Cart
    Your cart is emptyReturn to Shop