Day Traders Diary
As Jon Snow would say, "Earnings season is coming." The S&P 500 gained 0.7% on Friday, as a strong earnings report from JPMorgan Chase (JPM) and a positive investor's day from Walt Disney's (DIS) as they introduced a new streaming service helped lift the averages offseting losses from the health care sector. Dow component, UnitedHealth Group finished down 5% not far from a 52 week low. Friday's advance also helped the benchmark index aove the 2900 level for the first time since early October. The Dow Jones Industrial Average gained 1.0%, the Nasdaq Composite gained 0.5%, and the Russell 2000 gained 0.4%.
Health care stocks continue to fall out of favor. Uncertainty about the fate of the Affordable Care Act and increasing threats from lawmakers to curb rising drug costs weighed heavily on the space. The S&P 500 health care sector lost 1.0%.
Next week more earnings.All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.