Market Outlook – 04/03/18 – Brandon Van Zee
The S&P 500® bounced back from yesterday’s sell-off and rose 1.26%. Spotify (SPOT) completed its unique direct listing into public markets, the first of its kind since GOOG attempted it in 2004. President Trump continued his tweeting about Amazon and its usage of the partially-subsidized U.S. Postal Service. AMZN shares had a volatile day swinging approximately $40 per share on 3 different periods during the day and eventually closed higher by 1.46%. All four major U.S. indices have bearish intermediate postures, and all but the Russell 2000® have their Market Forecast intermediate lines in the lower reversal zone. Energy stocks were the best performer today. Utilities have been one of the best sectors in recent weeks.
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