Afternoon Note
The major indices have been trading in the red on the heels of the initial claims report and what some believe to be disappointing earnings. Treasuries are trading up on the claims report, with the 10-year yield now down to .68%.
The S&P 500 is mixed today with money rotating into safe havens like Utilities and Consumer Staples.
S&P 500 Index |
-0.54% |
|
Communication Services (XLC) |
-0.69% |
|
Consumer Discretionary (XLY) |
-0.76% |
|
Consumer Staples (XLP) |
+0.66% |
|
Energy (XLE) |
+0.21% |
|
Financials (XLF) |
+0.45% |
|
Health Care (XLV) |
+0.35% |
|
Industrials (XLI) |
+0.55% |
|
Materials (XLB) |
+0.31% |
|
Real Estate (XLRE) |
-0.37% |
|
Technology (XLK) |
-1.50% |
|
Utilities (XLU) |
+0.73% |
Advancers continue to outpace decliners and more 52-week highs continue to be created.
Issues: |
NYSE |
NASDAQ |
Advancing |
1,833 |
1,829 |
Declining |
1,109 |
1,408 |
Issues at: |
||
52 Week High |
120 |
132 |
52 Week Low |
4 |
14 |
Volume: |
||
Advancing |
1.19B |
1.20B |
Declining |
735.62M |
953.23M |
“The June increase in the LEI reflects improvements brought about by the incremental reopening of the economy, with labor market conditions and stock prices in particular contributing positively,” said Ataman Ozyildirim, Senior Director of Economic Research at The Conference Board. “However, broader financial conditions and the consumers’ outlook on business conditions still point to a weak economic outlook. Together with a resurgence of new COVID-19 cases across much of the nation, the LEI suggests that the US economy will remain in recession territory in the near term.”
The LEI is a weighted gauge of 10 U.S. indicators designed to signal business-cycle peaks and troughs. It includes:
There are starting to be some good sign on the coronavirus front. There is more evidence that new cases in Arizona (AZ) are falling and Florida (FL) has peaked.
There are many companies scheduled to report this evening including Intel (INTC).
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
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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 |
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