The Moskowitz Report (TSLA, VRTX, XOM, WMT, C, REGN, IBM, XLE, CELG, RL, AAPL, RIG, JPM, ALXN, SHLD, FB, PSX, KSS, IBB, AMZN, COP, BMRN, DDS, NFLX, APC, BIIB, GS, JWN, NVDA, HES, KORS, MPC, INCY) - Stock Market Commentary for Thursday, July 13, 2017
Todays’ market took off like a shot. Between the oil rally and Auntie Janet’s questioning before the Congress there was no doubt that these fit the bull market recipe for a triple digit gain. Unfortunately the oil couldn’t hold the gain and sold off from $46.50 to close only slightly higher at $45.49, 75% down on the range. The oil is trading down $.12 right now. The oil stocks were mixed with CVX -.68, XOM +.40 (upgraded from hold to buy), APC-.15, BP +.35, COP-.14, OXY_.23, PSX-.10, RIG-.04, MPC-.44, MRO -.10, HES+.18 and XLE+.18.
There was not a question in the big names as the DJIA+123 and at a new high and GOOGL+ 16.22, AMZN +12.72, AAPL -.08 (on production questions for IPhone 8), FB+3.64, NFLX +4.72, NVDA+7.42, TSLA +3.30, BA-.10, and IBM +.24.
Even retail got a lift with 9 of the 12 I follow higher. M+.07, JWN+.05, KSS+.24, WMT+.48, DDS+1.22, RL -.50, SHLD+.04, ANF-.28, JCP+.06, KORS+.05 and XRT +.39.
The dovish posture by the Fed was a drag on the financials as rates fell. GS+.42, JPM-.28, C+.13, and XLF +.08. The Bio / Pharma names were mixed today with BIIB+3.32, CELG+1.31, ALXN+.62, BMRN-1.35, VRTX-.73, INCY+1.30, REGN+4.99, and IBB +2.00.
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