Market Recap: Hotel, Motel, Holiday Inn…


The Reformed Broker, AKA Derick Sermon, here with today’s Market Recap

They loved everything about Apple (AAPL) today, and the stock was up over 3 bucks from the open.  iPhones and China are like peanut butter and chocolate, a can’t-miss combo. 

Anything hotel or lodging-related was also on fire, with the Hotel/Motel REIT sector rallying over 12% on the day following a strong report from LaSalle Properties (LHO).  For those keeping track, the Hotel REIT index is outperforming the S&P 500 by a whopping 35% this month. 

Here’s the 3:30 look at the related indices:

Today’s Industry Highlights
Top Performing Industries % Change
REIT – Hotel/Motel +12.67%
Lodging +8.43%
Resorts & Casinos +6.18%

The banks were also solid all day today, despite the up and down action of the Dow and S&P.  Ebay (EBAY) also put in a solid effort, up over 12% most of the day.

Tonight we get a ton of earnings reports, including KLA-Tencor (KLAC) and Amgen (AMGN).

Have a good night and thanks for reading The Reformed Broker today!

Full Disclosure: I currently manage accounts that own AAPL, please do not construe my commentary here as an invitation to buy or sell any securities.

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