Afternoon Note
The market is barely out of the starting gate today, and is mostly meandering, as investors play the waiting game.
Talk about heavy lifting, the Communication Services sector is trying to single handily lift the entire S&P 500. CenturyLink (CTL) is the top gainer, but Facebook (FB) and Google (GOOG/L) are putting the oomph in the sector.
S&P 500 Index |
-0.12% |
|
Communication Services XLC |
+1.50% |
|
Consumer Discretionary XLY |
-0.13% |
|
Consumer Staples XLP |
-0.38% |
|
Energy XLE |
-0.52% |
|
Financials XLF |
-0.27% |
|
Health Care XLV |
-1.14% |
|
Industrials XLI |
+0.05% |
|
Materials XLB |
-0.74% |
|
Real Estate XLRE |
-0.47% |
|
Technology XLK |
+0.10% |
|
Utilities XLU |
-0.14% |
Market Breadth
NYSE
NASDAQ
Economy in Motion
Kansas City Southern (KSU) is having a great session as it continues to bubble up in the takeover rumor mill. I think an offer is plausible, but it has been in and out of takeover speculation for 15 years.
Historically, transportation has been a great harbinger of where the economy is going. The DJT has been trading above its 50-day moving average and is breaking out through a key resistance point. Obviously, airline stocks have been a drag. But truckers and rails, including Kansas City Southern, are powering along strongly.
American Airlines (AAL) is nearing its 50-day moving average in part to a growing sense the White House and GOP are pressing for more help for the industry.
Tweet |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
4/10/2024 9:51 AM | HERE COMES THE LATEST RATIONALE FOR PERSISTENT INFLATION |
4/9/2024 1:56 PM | Fighting the Trend |
4/9/2024 9:46 AM | NEXT TIME, MAKE IT A HOLIDAY |
4/8/2024 9:45 PM | Cautious Feel |
4/8/2024 7:19 AM | IT’S ECLIPSE DAY |
4/5/2024 1:51 PM | Higher and Cheaper |
4/5/2024 9:23 AM | MARKETS REEL ON BIDEN’S ISRAEL ULTIMATUM |
4/4/2024 1:42 PM | Stocks Bounce |
4/4/2024 9:31 AM | ESCAPING GRAVITY = ESCAPING REALITY? |
4/3/2024 1:41 PM | Cuts Not Soon |
4/3/2024 9:33 AM | A LITTLE LESS SWAGGER |
4/2/2024 1:16 PM | Under Pressure |
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