Afternoon Note
Today’s session looks familiar, but the way it is played out, it feels different. Tech rallied first, but swiftly slipped, as there was some rotation in Blue Chip names including Deere (DE) and Estee Lauder (EL).
Following, tech got a bump after the Trump administration said there would be no ban on US companies using WeChat inside of China. Plus, Tesla (TSLA) split is effective for all shareholders on record as of today.
Right now, all the major indices are edging higher, albeit with detracting breadth beneath the surface.
S&P 500 Index |
+0.13% |
|
Communication Services XLC |
-0.41% |
|
Consumer Discretionary XLY |
+0.28% |
|
Consumer Staples XLP |
-0.11% |
|
Energy XLE |
-1.13% |
|
Financials XLF |
-0.43% |
|
Health Care XLV |
-0.12% |
|
Industrials XLI |
+0.20% |
|
Materials XLB |
-0.81% |
|
Real Estate XLRE |
-0.34% |
|
Technology XLK |
+0.98% |
|
Utilities XLU |
-0.19% |
Existing home sales erupted higher and the only thing holding the housing boom back is a lack of supply.
Our economy is well-positioned to come out of this pandemic with momentum, but still needs a booster shot. I think Congress will do something, but my optimism is waning.
Tweet |
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 |
4/2/2024 9:49 AM | HIGHER PRICES & JOBS LOSS – “NO” ON FED BINGO CARD |
4/1/2024 10:00 AM | OF COURSE, HE CAN WAIT…THE DATA STILL NOT ADDING UP |
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