Major averages baby stepped their way higher yesterday on higher volume. The Federal Reserve left rates unchanged as expected but central bankers believe improving economic growth is likely to warrant one or two interest rate increases before the end of the year. Still, Fed Chairwoman Janet Yellen added that more progress is needed before the central bank would be ready to hike rates. Overall, Fed officials were cautiously optimist about the economy. Futures are currently up at the time of this writing.
Electric vehicle and battery producer Tesla Motors (TSLA) had a pocket pivot. Sales are soaring but earnings are in the red. Still, earnings are projected at $3.41 in fiscal 2016. This is a higher risk speculative play on whether their battery technology is truly revolutionary.
On-demand customer relationship management provider Salesforce.com (CRM) had a pocket pivot. Earnings are accelerating, institutional sponsorship has grown last 4 quarters, group rank 35.
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