The Closing Look

Stocks ended mixed on Wednesday as investors digested the latest round of economic and earnings data. Overnight, Japan fired another 28T Yen easy money missile to help stimulate their market and their lackluster economy. That came a few days before their central bank meeting on Friday. Meanwhile, The U.S. Fed held rates steady and the latest round of earnings roulette continued. Apple (AAPL), Garmin (GRMN) and Edward Life Sciences (EW) gapped up after releasing their Q2 results while shares of Twitter (TWTR) and Coca-Cola (KO) were some of the names that gapped down on earnings. Elsewhere, pending home sales grew by 0.2%, missing estimates for a gain of 1.2%.

Gary’s Thoughts: We are thrilled that the market ignored the Fed. We cannot wait for the day where markets stick a certain finger up at them.  Gold/Silver reacted to the nonsense.  Markets spinning wheels right here.