Slight Distribution Day
The action in the market today was somewhat bearish. Bond yields spiked higher, and that provided a tough environment for stocks. Many recent leaders were down significantly on the day.
Volume rose on the NYSE, making for a slight distribution day for the SPX. The COMP was only down -0.1%, so that doesn't qualify.
After the close, the earnings parade continues:
- SIRF reported in-line quarter, but that doesn't look to be enough to keep the stock from selling off.
- WIRE reported blowout EPS and the stock is trading roughly 10% higher in after-hours
- AMZN reported in-line results, and the stock looks to be pretty flat
- ITRI beat the numbers, and the stock should hit new highs
- GLW beat the numbers by 4 cents, but offered tempered guidance
Tomorrow should be another fun day, so rest up--