Afternoon Note
By Charles Payne, CEO & Principal Analyst
7/23/2021 1:49 PM
Another record-breaking session with the S&P 50 hitting a new intraday high. Strong earnings from tech stocks made investors optimistic. The Dow Jones gained 0.6%, while the S&P 500 and Nasdaq climbed more than 1%.
Communication Services is picking up some momentum, after having survived a recent test of its 50-day moving average. Twitter (TWTR) and Snap (SNAP) are pushing the sector higher, along with Facebook (FB) who received a Street-high price target this morning.
|
S&P 500 Index |
+0.87% |
|
|
Communication Services XLC |
+2.48% |
|
|
Consumer Discretionary XLY |
+0.74% |
|
|
Consumer Staples XLP |
+1.09% |
|
|
Energy XLE |
-1.07% |
|
|
Financials XLF |
+0.17% |
|
|
Health Care XLV |
+1.02% |
|
|
Industrials XLI |
+0.22% |
|
|
Materials XLB |
+0.27% |
|
|
Real Estate XLRE |
+0.65% |
|
|
Technology XLK |
+0.79% |
|
|
Utilities XLU |
+0.88% |
There are more advanced on the NYSE, but more decliners on the Nasdaq.
|
Market Breadth |
NYSE |
NASDAQ |
|
Advancing |
1,836 |
1,865 |
|
Declining |
1,373 |
2,297 |
|
52 Week High |
126 |
117 |
|
52 Week Low |
46 |
114 |
|
Up Volume |
779.22M |
1.10B |
|
Down Volume |
1.92B |
1.25B |
The Street is gearing up for earnings from the Big Tech next week. Major tech companies including Microsoft (MSFT), Alphabet (GOOG), Apple (APPL), Facebook (FB), and Amazon (AMZN) will be reporting their second-quarter results.
| Comments |
| have a good weekend Dr. James Pond on 7/23/2021 1:58:03 PM |
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