Market 2017-09-27

It is a big day for Nasdaq to bounce back 1.15%, turning its September performance green.


Trump revealed his Tax Cut Plan, which doesn't seem realistic to me. Nevertheless, it fueled the market rally today.

FAANG stocks (Facebook +2.1%, Apple +0.7%, Amazon +1.3%, Netflix +1.4% and Google +2.1%) are all in deep green. Micron Tech (MU, +8.5%) delivered solid earning yesterday after the market close brought the whole semiconductor group up. The tech section is up 1.1%.

The financial group is up 1.3% due to the rising Treasury yields. Utilities are down 1% today, followed by the gold and bonds.

Non-Cyclical Cons. Goods group is still struggling as it did YTD. Nike (NKE, -2%) recovered some of the loss at the final half hour before market closed with solid volume, indicating the price may stay above $52. The stock has been traded between $49 and $60 for more than 1 year. Their earning was fine, better than expected, although revenue was flat and earning slipped. However, CEO gave optimistic comments during earning call. If you look for short-term investment, you may find good entry point (below $52) in the next two days.

Another trade opportunity is REIT. I like to trade Realty Income Corp (O) for short-term investment. From late April, it has been traded in a narrow range of $54~60. With monthly dividend $0.21, I will be confident to buy any weakness below $56. It hit $56.75 today.


Earnings

before market open: ACN, ANGO, BBRY, CAG, CMD, FGP, MKC, MTN, RAD

after market close: CAMP, KBH

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