Afternoon Note
It has been a soft start for the market, and given the gains from last week, this is not surprising.
Seven sectors are in red led by Real Estate and Financials. Health Care and Consumer Staples top the gainers.
The economic calendar this week is light, the spotlight will be on third quarter earnings and a parade of Fed speakers. This morning, in a speech at Duke University, Fed Governor Lisa Cook emphasized the resilience of the U.S. financial system. She highlighted the modest household debt levels owned primarily by strong credit consumers.
Fed Speakers This Week:
*FOMC MEMBER WALLER (TUES. 10:00AM)
*FOMC MEMBER LOGAN (TUES. 1:25PM)
*FED CHAIR POWELL (WED. 9:15AM)
*FED VICE CHAIR JEFFERSON (WED. 4:45PM)
*FED CHAIR POWELL (THURS. 2:00PM)
Breadth shows there is not a lot of conviction on either side of the tape.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
809 |
1,556 |
Decliners |
2,020 |
2,565 |
New Highs |
33 |
37 |
New Lows |
16 |
82 |
Up Volume |
464.2 million |
838.6 million |
Down Volume |
1.16 billion |
1.48 billion |
Tweet |
5/17/2024 1:45 PM | Near Record Highs |
5/17/2024 9:31 AM | DIFFERENT VALUATION METRICS |
5/16/2024 1:23 PM | Dow 40,000 |
5/16/2024 9:40 AM | AUTOPILOT FEELS SO GOOD |
5/15/2024 1:53 PM | New Hope |
5/15/2024 9:41 AM | CHAMPING AT THE BIT (INVESTORS BEGINNING TO CHASE) |
5/14/2024 1:24 PM | Small Moves |
5/14/2024 9:22 AM | Marking Time |
5/13/2024 1:37 PM | Snuffed Out |
5/13/2024 9:37 AM | BRACING FOR MORE INFLATION DATA |
5/10/2024 1:23 PM | Cold Water |
5/10/2024 9:58 AM | IN TUNE |
5/9/2024 1:09 PM | Disconnect |
5/9/2024 9:39 AM | THE SEVENTH (TRADING) DAY OF MAY |
5/8/2024 1:49 PM | Mixed Note |
5/8/2024 9:37 AM | CHANGING NARRATIVES |
5/7/2024 1:50 PM | Building Gains |
5/7/2024 9:36 AM | HOPING MICKEY SAVES THE DAY |
5/6/2024 1:59 PM | Rate Cut Hopes |
5/6/2024 9:17 AM | LOOKING FOR MOMO TO KICK BACK IN |
5/3/2024 1:41 PM | Cheering the News |
5/3/2024 7:33 AM | TIM COOKS THE (RECORD) BOOKS |
5/2/2024 1:54 PM | Holding Up |
5/2/2024 9:41 AM | COOL HAND POWELL |
5/1/2024 1:22 PM | Which Powell? |
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