Afternoon Note
The markets opened up solidly this morning and so far, are holding on to the gains. The Nasdaq is largest percentage gainer up about 1.25%, thanks in part to the earnings report from NFLX (up almost 20%), which is also leading consumer discretionary sector higher. All 11 sectors are up with consumer discretionary, health care and technology leading the way. Helping the Dow is UnitedHealth Group (UNH), which beat on the top and bottom line and raised its guidance and is currently up almost 7%. On the NYSE, advancers outpace decliners 2435/483 and on the Nasdaq 1969/742.
In the latest report from the National Association of Home Builders/Wells Fargo Housing Market Index, homebuilders are slightly less optimistic about the housing market than they were in September as the October index dropped 2 points to 63 (positive sentiment is a read above 50). According to NAHB Chairman Ed Brady, "Even with this month's drop, builder confidence stands at its second-highest level in 2016, a sign that the housing recovery continues to make solid progress." Shortage of inventory and labor continue to weigh along with the potential of a December rate hike.
Treasuries are higher with the 10-year down to 1.75%. The U.S. Dollar is down today and oil is inching up. The American Petroleum Institute will release the latest inventory after the bell, and in the morning, we will get the EIA report.
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
3/27/2024 9:32 AM | U-TURN? |
3/26/2024 1:08 PM | Everything Is Up |
3/26/2024 9:42 AM | TAPPED OUT (I HOPE YOU AT LEAST GOT A T-SHIRT) |
3/25/2024 1:33 PM | Not A Mutiny |
3/25/2024 9:35 AM | STAYING THE COURSE…BEYOND TECH |
3/22/2024 12:56 PM | Toll on Americans |
3/22/2024 9:38 AM | A TAD TIRED |
3/21/2024 1:55 PM | Building on Gains |
3/21/2024 9:30 AM | A COMFORTING FED |
3/20/2024 1:33 PM | Pivotal Moment |
3/20/2024 10:00 AM | HERE COMES THE FED |
3/19/2024 1:33 PM | Picking Up Steam |
3/19/2024 9:35 AM | RUMBLINGS IN THE BOND MARKET |
3/18/2024 1:48 PM | Mag 7 is Back |
3/18/2024 9:39 AM | THE PARTY IN SAN JOSE WILL BE LIT |
3/15/2024 1:38 PM | Realtors Settle |
3/15/2024 9:33 AM | AN UNEASY PAUSE |
3/14/2024 1:43 PM | Sticky Inflation |
3/14/2024 9:48 AM | GOING TO A GO-GO |
3/13/2024 2:16 PM | Taking a Breather |
3/13/2024 9:51 AM | ALL SO EPIC |
3/12/2024 1:42 PM | Marching Higher |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|