Whoop Whoop… With Presidents’ Day on Monday (one of the best fake holidays of the year), the few people that do report to the floor of the NYSE these days are getting ready to ring in the 3-day weekend with the traditional 3:33pm “WHOOP.” Equities don’t seem to be sharing the same enthusiasm, rather they seem to be mailing it in to cap off of an already boring (or is it?) stretch the last few days. With the SPX bouncing around unchanged, Transports are leading the way towed by FedEx (FDX +3.0%) gaining after it delivered a pleasing divi declaration (still just below its 50-DMA though). Banks and Energy are among the outperformers thanks to yields going better along with oil (of course the two linked through all the recent inflation chatter). Illumina (ILMN +13%)’s well-received reporting has helped Pharma. Somewhat surprisingly Disney’s (DIS -1.9%) streaming subscriber beat and resilient parks performance hasn’t stacked up the recent bullish expectations, thus Media is struggling despite another day of Twitter gains (TWTR +5.6%). Newell Brands’ (NWL -7.9%) lackluster guidance is weighing on the Apparel space.
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