Afternoon Note
Stocks traded choppily as investors digested a host of earnings results and next moves from policymakers to support the economy. The Dow Jones failed to hold early gains with only 8 stocks in the green, led by Intel (INTC) who is drifting towards the $60 level. The S&P 500 retreated about 0.15% whilst the Nasdaq is flat.
Among the notable market moves this morning, Bitcoin (BTC) rose to a new record high, driven by additional signs of broader private sector adoption of the cryptocurrency as a potential medium of exchange.
Energy paired gains as OPEC said it expects demand for crude to rise by 5.8 million barrels a day in 2021, down 100k barrels from its January forecast. Technology is the only sector in green with semiconductors leading. A group of U.S. chip companies sent a letter to President Biden urging him to provide “substantial funding for incentives for semiconductor manufacturing.”
S&P 500 Index |
|
-0.29% |
Communication Services XLC |
|
-0.54% |
Consumer Discretionary XLY |
|
-0.39% |
Consumer Staples XLP |
|
-0.18% |
Energy XLE |
|
-3.36% |
Financials XLF |
|
-0.86% |
Health Care XLV |
|
-0.05% |
Industrials XLI |
|
-0.96% |
Materials XLB |
|
-0.59% |
Real Estate XLRE |
|
-0.44% |
Technology XLK |
+0.56% |
|
Utilities XLU |
|
-0.47% |
Breadth is bearish this afternoon with down volume on the Nasdaq 2-1 ratio.
Market Breadth |
NYSE |
NASDAQ |
Advancing |
1,201 |
1,536 |
Declining |
1,997 |
2,342 |
52 Week High |
213 |
398 |
52 Week Low |
5 |
7 |
Up Volume |
662.16M |
2.12B |
Down Volume |
1.52B |
5.03B |
We have taken a couple of profits this morning and are up in cash.
Comments |
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Thank you so much William. I really appreciate it very much. Here is the info to make a donation to Rodney's charity. CP
weareraisingmen.com/donate/ Charles Payne on 2/11/2021 7:05:07 PM |
Charles I’m a new subscriber but try to catch your noon show our time here in Denver I like your comments and stock picks. Bullock Van on 2/12/2021 10:03:15 AM |
Sincerely appreciate your "Research" and informative guests. Steven D Hungerford on 2/12/2021 2:23:05 PM |
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