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Post: Wednesday - Sideways trade may continue. | Daily Delphi

BlogsPit Talk › Wednesday - Sideways trade may continue. March 26, 2014, 6:50 am

CALENDAR
7:30 AM CT
Durable Orders for Feb
Prior -1.0% Forecast 1.0%
Durable Goods ex-transportation for Feb
Prior -1.1% Forecast 0.3%
9:30 AM CT
Crude Inventories for 3/22
Prior 5.850M

TUESDAY RECAP
The major indices managed to eek out gains yesterday on the back of some strong showings from the blue chips and a volatile rebound effort by the beaten down biotech stocks. The Dow gained +91.19 closing at 16367.88, the NASDAQ was up +7.88 at 4335.07 and the S&P closed out the day up +9.90 at 1859.30.

TODAY'S ACTION
Most Asian markets were up in Wednesday trade and the European markets are solidly green and moving up. Today traders will get a look at the durable orders report for February which is expected to come in at 1.0% after last months poor showing of -1.0%. Technology stocks will stay in the spotlight today. Investors will react to FB's acquisition of Oculus VR for $2B and KING will begin trading after its IPO which is priced at $22.50. Trade strong.


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