Market Limps Into Weekend

 | Jul 21, 2017 | 4:56 PM EDT
  • Comment
  • Print Print
  • Print
Stock quotes in this article:


















The market limped into the end of the week after hitting record highs and firing on all cylinders on Wednesday. Still, as was the case yesterday, losses were mild, and while the easy culprits are poor earning from GE (GE) and a sell-the-news reaction to Microsoft (MSFT) , it was mostly some more healthy consolidation after a strong upside push.

This isn't unusual for markets that hit such extreme short-term overbought readings like this one did midweek, but those readings also have tended to lead to further gains in the weeks ahead.

Under the surface, there were some good individual movers in biotech and banks, including Dicerna Pharmaceuticals (DRNA) , Neuroderm (NDRM) , Independent Bank Corp (INDB) and Triumph Bancorp (TBK) , to name a few, but it was tough trading overall. The set-ups that have been developing are still there, but today wasn't the day for a lot of big moves.

Next week, things start getting interesting with the earnings reports, with Facebook (FB) , Amazon (AMZN) and Alphabet (GOOGL) on the calendar. We'll see if the bulls can continue to press or if Q2 numbers have already been priced in, as was the case with MSFT, and the effects of negative seasonality begin to have an effect. The one thing that we can usually count on is that earnings season produces a new crop of winners, so it's going to be a busy few weeks before we hit prime vacation time towards the end of August.

Have a great weekend, everyone. RevShark will be back at his trading turret on Monday.

--  Written by Jim Koford

Columnist Conversations

$3.2 billion is a pretty penny for PepsiCo (PEP) to pay for SodaStream (SODA) . The company better hope peop...



News Breaks

Powered by


Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.