Market Recap 2/4/2014

Markets breathed a small sigh of relief today as E-mini S&P 500 futures closed higher by 16.50 points on the day after one of the worst single day declines in months. Markets well buoyed in part by the release of January factory orders, which came in above analyst expectations. After the close we will watch earnings from BIDU and a few names reporting tomorrow. Tomorrow morning will see the release of ADP Employment and ISM Non-Manufacturing numbers. A slew of other earnings releases are on tap for the week along with the release of the Employment Situation on Friday so traders will not lack opportunity this week. For earnings tonight and tomorrow morning we have longs in MYGN and GILD and a short position in BIDU. We will continue to take profits on broader moves higher and will continue to keep a close eye on earnings in a week filled with catalysts.

Andrew Keene

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