Quest Diagnostics estimated today that their 3Q EPS will be below analyst expectations. This has sent the stock lower in light of the rally today.
A similar chart to one we posted last week that showed the percent of stocks trading above their 5 year average valuation, the one below shows the percent of stocks that are trading within 25% of their highest valuation level over the last 5 years.
Initial unemployment claims were hit by a variety of ”one-off” factors including an IT upgrade in California and temporary layoffs in the private sector due to the government shutdown. The 4-week moving average moved from 305k to 325k.