Afternoon Note
The market is once again in record high territory, as industrial production data and housing starts exceeded expectations.
The Dow gains 0.1%, as Goldman Sachs (GS), Home Depot (HD) and Boeing (BA) lead.
New highs continue to outpace new lows
On the NYSE:
On the Nasdaq:
Boeing (BA) reversed higher despite 737 Max production announcement. The stock is up 0.2%, after falling as much as 2% earlier. Boeing suppliers are also under pressure, Spirit AeroSystems (SPR) is down 2.6%, and Triumph Group (TGI) is up 0.3% after plunging 6.2% on Monday. General Electric (GE) is currently down 0.2%
Boeing CEO Dennis Muilenburg, said in July that halting Boeing 737 Max production could be more efficient than a sustained lower production rate. It would reduce the outflow of airplanes, as storage space becomes an issue.
Energy is the best performer in the S&P as oil prices rise. Oil is testing resistance at $60, crossing above would send buyers looking for an opportunity in oil stocks.
S&P 500 Index |
+0.13% |
|
Communication Services (XLC) |
+0.11% |
|
Consumer Discretionary (XLY) |
+0.46% |
|
Consumer Staples (XLP) |
|
-0.13% |
Energy (XLE) |
+0.61% |
|
Financials (XLF) |
+0.52% |
|
Health Care (XLV) |
|
-0.04% |
Industrials (XLI) |
+0.08% |
|
Materials (XLB) |
|
-0.15% |
Real Estate (XLRE) |
-0.58% |
|
Technology (XLK) |
|
0.09% |
Utilities (XLU) |
+0.50% |
US Job Openings Surge Past Expectations
The JOLTs report came in 260,000 better-than-expected. The jobs market is amazing and yet people are still reluctant to quit their jobs, which keeps wages lower if they’d go if more folks hit the bricks.
Comments |
In my case, I look at job satisfaction in the context of “finding a job is easy, but keeping a job is hard”... Andrew B Newallo on 12/17/2019 5:27:49 PM |
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