Wall Street Strategies
Hello! Sign in or Register


Afternoon Note

Strong Numbers

By Charles Payne, CEO & Principal Analyst
6/26/2019 1:44 PM

It’s the tale of two sectors today.  Energy and technology are leading the way, as the markets are still very much in wait and see mode.

S&P 500 Index

+0.20%

 

Communication Services (XLC)

 

-0.16%

Consumer Discretionary (XLY)

+0.60%

 

Consumer Staples (XLP)

 

-1.14%

Energy (XLE)

+1.93%

 

Financials (XLF)

+0.39%

 

Health Care (XLV)

 

-1.18%

Industrials (XLI)

+0.30%

 

Materials (XLB)

 

-0.14%

Real Estate (XLRE)

 

-1.36%

Technology (XLK)

+1.57%

 

Utilities (XLU)

 

-1.39%

Energy is the best performer; West Texas Intermediate has been up two dollars for most of the session.  Crude oil inventories posted a surprising decline of 12 million barrels, impacting crude almost as much as potential military conflict with Iran.  This once again underscores the importance of the United States not just as a producer but also as consumer demand.

The tech sector powered by the semiconductors and the stock of the day: Micron (MU).  It’s not just that the company posted strong numbers, but the fact they allowed loopholes with Huawei is further evidence the administration is signaling a willingness to get a deal down with China.  Semiconductors are powering higher on these developments.

Semiconductor Indices

SOXX

SMH

QCOM 10.4%

INTC 12.2%

TXN 8.2%

TSM 9.7%

AVGO 7.6%

QCOM 6.3%

NVDA 7.3%

TXN 6.1%

INTC 6.9%

ASML 5.4%

AMD 4.8%

NVDA 5.0%

AMAT 4.1%

AVGO 4.8%

LRCX 4.0%

AMD 4.7%

NXPI 4.0%

LRCX 4.5%

But the main chip ETFs are still well below recent highs.

https://www.tradingview.com/x/BP8Wmtep/


 

Add Your Comment


Submitted comments are subject to moderation before posting.


Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.