Market Outlook – 04/12/18 – Brandon Van Zee
The intermediate line turned slightly higher and is now weakly bullish for the S&P 500®. It closed higher by 0.83%. One company that didn’t fair quite as well was Bed Bath & Beyond (BBBY), which closed lower by nearly 20% after a poor reception to its earnings announcement. Interest rates rose today and the traditional reaction among sectors occurred: the Financials sector rose, while the Utilities and Real Estate sectors fell. The Dow Jones Industrial Average was the biggest winner today, led higher by Intel (INTC) and Boeing (BA), which were both up over 3%. The Russell 2000® is now trading above its 30 day moving average, but is still at the midpoint of its current sideways channel.
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