Courtesy of Blain.
After 2 volatile days, a return to more calm on Thursday as the S&P 500 fell 0.13% and the NASDAQ 0.17%. The daily Greek drama continues; IMF Managing Director Christine Lagare told a German newspaper that a Greek exit from the euro zone was possible but that this would probably not herald the end of the euro currency. On Wednesday, both U.S. and European equities rallied after Greece said it had stated crafting a “staff level agreement” with its international bailout supervisors. However, European officials rebuked the claims on Thursday, saying there was some way to go before any agreement could be drawn up and that they were surprised by the upbeat sentiment from Greece.
Indexes look much the same as we entered the week.
Despite Wednesday’s rally, the NYSE McClellan Oscillator remains in the red; bulls would like to see this change.
China stocks plunging 6.5 percent on Thursday, with traders citing the tightening of marginal lending rules as an explanation. The chart had become parabolic…
Costco (COST) reported quarterly earnings of $1.17 per share, two cents above estimates, though revenue and comparable store sales were below forecasts. The warehouse retailer was hurt by lower gasoline prices and a stronger dollar.
Abercrombie (ANF) lost 53 cents per share for its latest quarter, wider than the 34 cent consensus estimate. Revenue missed forecasts amid an eight percent drop in comparable store sales. The apparel retailer did say it sees sales improving, and that it will see continued headwinds from foreign currency fluctuations. Its teen-focused Hollister chain showed signs of improvement, a relative bright spot for a company struggling to make a comeback.
GoPro (GPRO) rose to a four-month high after the maker of action cameras announced plans to develop drone and virtual-reality businesses. It tagged its newly created 200 day moving average.
