Afternoon Note
The market rocketed out of the gate on the May nonfarm payroll report, and it hasn’t looked back. The Dow is up over 3.5% and has surpassed 27,000. Once again, the Russell is strong, and the clear winner, up 4.7% today.
Industrials are gaining, and travel related stocks are up huge. The cruise industry is soaring with names like Royal Caribbean (RCL) and Carnival (CCL) up over 20%. Boeing (BA) is up 16% and has risen close to 50% this week. American Airlines (AAL) has gained 12% in today’s session, as investor continue to look for beaten down names.
All 11 S&P 500 sectors are in the green with Energy leading the way, up 7.69% today and over 11% for the week. The 10-year Treasury is up to 0.83% from 0.65% at the beginning of the week, and Financials are continuing to attract buyers.
S&P 500 Index |
+2.90% |
Communication Services (XLC) |
+2.19% |
Consumer Discretionary (XLY) |
+2.88% |
Consumer Staples (XLP) |
+1.64% |
Energy (XLE) |
+7.69% |
Financials (XLF) |
+3.97% |
Health Care (XLV) |
+2.17% |
Industrials (XLI) |
+4.56% |
Materials (XLB) |
+2.98% |
Real Estate (XLRE) |
+3.95% |
Technology (XLK) |
+2.80% |
Utilities (XLU) |
+2.43% |
Issues: |
NYSE |
NASDAQ |
Advancing |
2,636 |
2,592 |
Declining |
343 |
677 |
Unchanged |
26 |
62 |
Total |
3,005 |
3,331 |
52 Week High |
60 |
105 |
52 Week Low |
0 |
8 |
Advancing |
4.85B |
3.54B |
Declining |
405.98M |
828.85M |
Unchanged |
2.24M |
10.56M |
Total |
5.26B |
4.38B |
Break Out Points |
Major Breakout |
Current |
S&P 500 |
3,130 |
3,201 |
Dow Jones Industrial Average |
24,242 |
27,200 |
NASDAQ Composite |
9,018 |
9,829 |
For the week, the Dow is up 7.7%, S&P 500 +5.5%, and the Nasdaq +3.6%.
Have a great weekend. Be safe and stay well.
Tweet |
3/28/2024 7:50 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 |
3/12/2024 9:25 AM | ROTATION IN FULL SWING |
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