Afternoon Note
The Dow and the S&500 have pared their losses, however, are still firmly in the red. The Nasdaq turned higher early on in the session and is trying to hold to those gains.
The Energy sector is the best performer again today, despite oil retreating, followed by Technology.
The momentum FAANG names are back in vogue today, at least for now, with the exception of Alphabet/Google (GOOG/L). Microsoft (MSFT) is up 1.35% today. As a result of the coronavirus and people working from home, it has seen a big bump in Windows usage as more people have turned to windows PCs. The company confirmed that it will be bringing Windows 10X to laptops soon.
Industrials are the laggards with the transports underperforming again today. Airlines stocks are getting hit hard, in part to news that Warren Buffett sold all his airline positions. General Electric (GE) also announced that it expects to permanently reduce up to 25% of it aviation workforce due to Covid-19.
The S&P 500 is down now for the last three session, but it had quite a ride higher since hitting the March 23 lows.
S&P 500 Index |
|
-2.81% |
Communication Services (XLC) |
-0.40% |
|
Consumer Discretionary (XLY) |
-0.22% |
|
Consumer Staples (XLP) |
|
-0.43% |
Energy (XLE) |
+0.89% |
|
Financials (XLF) |
-1.72% |
|
Health Care (XLV) |
|
-0.76% |
Industrials (XLI) |
-2.09% |
|
Materials (XLB) |
|
-0.53% |
Real Estate (XLRE) |
1.34% |
|
Technology (XLK) |
+0.19% |
|
Utilities (XLU) |
|
-0.44% |
Breadth is decidedly negative today on the NYSE and 52-week lows are outpacing new highs. Overall however, the markets are calm.
Issues: |
NYSE |
NASDAQ |
Advancing |
917 |
1,274 |
Declining |
1,992 |
1,866 |
52 Week High |
5 |
12 |
52 Week Low |
10 |
14 |
Advancing |
793.39M |
1.05B |
Declining |
1.50B |
761.90M |
Comments |
Not a good last few days. I expected calmer waves as we begin to open. Dem states seem to be hurting everyone with a specific purpose. This is bad for the market and the people. It won't end well. David Howley on 5/4/2020 1:45:26 PM |
You get what you vote for. Ken Knight on 5/4/2020 7:51:52 PM |
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.
|