STTG Market Recap May 18, 2015 – Stock Trading To Go
Indexes posted moderate gains Monday as a mixed morning led to afternoon buying; that is the pattern one wants to see. The S&P 500 gained 0.30% and the NASDAQ 0.60% as news flow was very light. For the year the S&P 500 is 3.4% higher and the NASDAQ is up 7.2% – but it has not been easy sledding in 2015. Fed Bank of Chicago President Charles Evans repeated his call to hold interest rates near zero until early 2016 at a speech in Stockholm.
The S&P 500 finally appears to be moving out of a 3+ month range.
The NYSE McClellan Oscillator is now back to positive.
Apple (AAPL) closed up after activist investor Carl Icahn said in an open letter to CEO Tim Cook that the tech company’s shares remain undervalued and are worth almost double the current price.
Cree (CREE) jumped on the announcement that the LED manufacturer’s wholly owned Power and RF subsidiary submitted a draft registration statement on a confidential basis to the Securities and Exchange Commission for a potential initial public offering of the unit’s Class A common stock.
Altera (ALTR) rallied after a report said it has resumed talks with Intel Corp. about a potential buyout.
E*Trade Financial (ETFC) rose as financial seem to be having some rotation into them.
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STTG Market Recap May 18, 2015 – Stock Trading To Go
