ICYMI - GOOG -8.1% weighed heavy on the entire tech sector which really needed little help after IBM and INTC's earlier disappointments. But while there was a caTECHstrophe there, when GOOG re-opened, algos ran wild and ramped S&P futures all the way back up to VWAP and GOOG made a valiant attempt to reach that mystical level also. But we should not fear, for reading too much into the fact that three of the world's largest tech companies are doing poorly is no reason to not BTFD and so it is that the Dow Industrials and S&P closed only marginally lower and Dow Transports had a green day (never seeing red). USD strength in the afternoon - as GOOG scared - pushed commodities down with silver doing worst and gold -0.77% on the week. Despite general equity weakness, Treasury yields limped higher in the afternoon now up around 17bps on the week. Oil round-tripped after dumping into the US open as weak macro data hit and then resurging on news that the Keystone pipeline would be closed to a few days due to 'anomaly'. VIX ended unch at around 15%. S&P futures are fading off VWAP after-hours.
On the week, NDX is the worst performer and Trannies the best...
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S&P futures ramped to VWAP in the last hour or so as GOOG reopened...
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Tech is the worst of the week (AAPL -1.9% today and GOOG -8.1%) - but still green as Materials are up over 4%...
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Commodities dropped as USD strengthened in the afternoon - and Oil roundtripped on demand and then supply concerns...
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and here is GOOG - with the after-hours target marked in bright red!
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Charts: Bloomberg
Bonus Chart: MSFT - the only part that counts - a total fudge (Morgan-Stanley style...)
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MSFT:
- *MICROSOFT 1Q EPS 53C, EST. 56C :MSFT US
- *MICROSOFT 1Q REV. $16.01B, EST, $16.39B :MSFT US
AMD
- *AMD 3Q ADJ. LOSS/SHR 20C, EST. LOSS 15C :AMD US
- *AMD TO CUT 15% OF JOBS; 4Q REV. FORECAST IS BELOW ESTIMATES
- *AMD SEES 4Q REV. $1.1B-$1.21B, EST. $1.31B :AMD US
MRVL
- *MARVELL TECHNOLOGY SEES 3Q REV. $765M-$785M, SAW $800M-$850M
CMG
- *CHIPOTLE MEXICAN GRILL 3Q REV. $700.5M; EST. $703.7M :CMG US
- *CHIPOTLE MEXICAN GRILL 3Q EPS $2.27; EST. $2.29 :CMG US
- *CHIPOTLE 3Q COMP SALES UP 4.8%, EST. UP 4.9% :CMG US