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Visa and Mastercard Get Pounded On New Rules!

|Includes: AAPL, AMZN, BB, FedEx Corporation (FDX), MA, ORCL, TTWO, UPS, V

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It's been a volatile week.  But, the bulls are buying again!  Jobless claims continued to fall, which seems to bring the bulls back into the market.  FDX raised its full-year outlook on holiday shipments.  FDX added almost +2% today.  UPS gained +2.09%.  Both AMZN and AAPL rallied higher along with FDX's report.

Late in the day, MA and V took sharp falls after Fed proposed to limit the intercharge fees to a cap of 12 cents per transaction.  MA fell from $250/share to just below $220/share in about 1 hour, before bouncing up to close at $223.49, down 10.32%.  V was trading above $78 before the announcement and closed at $67.19, down 12.67%.

After the market, ORCL reported better-than-expected earnigns.  Its shares climbed 3.7%.  RIMM also beat its earnings estimates, but, it only traded up +1.5%.  TTWO profits surged this quarter, sending its shares up +6% this evening.

The Dow was up +41.78 points; SPX added +7.64 points; Nasdaq gained +20.09 ponts:

UNG (natural gas) slumped 4.85% while USO (oil) slid 0.59%.  GLD (gold) fell, but, SLV managed a small gain.  XME (metals and mining) bounced +1.06%.  BTK (biotechs) continued to ramp up.  FXI (Chinese ADRs) was off slightly.


SPX added +7.64 points to close at 1242.87, back above 1240.  Its daily MAs and MACD went up.


Nasdaq gained +20.09 points to close at 2637.31.  Its daily MAs and MACD resumed higher.

In the Market Forecast for this week, I mentioned to pay attention to FDX's earnings report on Thursday morning, as it gives an indication to how strong the holiday shopping is going.  FDX gave some solid numbers and raised its guidance.  SPX bounced back above 1240 and it looks like some big cap tech stocks could now finally break higher.  AAPL and AMZN would definitely benefit from a strong holiday shopping season.  On Tuesday, we heard from BBY's results, which were not all that great.  This could mean that more and more people are shopping online.  We'll be watching AMZN carefully.  Above $180 is a new breakout!

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