Major averages rose yesterday on lower volume. The market may need to pull back here to consolidate its gains, and leading stocks have been underperforming to some extent, so it will be important to see how leading stocks behave in context with the general market. After rallying earlier this morning on a benign jobs number, futures have moved back towards the flat line.
Restaurant retailer El Pollo Loco (LOCO) had a pocket pivot yesterday that closed in the top half of its range on a favorable earnings report. Earnings are soaring, group rank 17. LOCO also had a positive earnings announcement yesterday after the close, but is trading slightly down on the open today.
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