Afternoon Note
Major indices pared gains after the news came out that Google (GOOGL) will pause its hiring for the rest of the year. The market is seeing the same reaction as similar news from Apple (AAPL) from Monday.
Regardless, all major indices continue to be above its 50-day moving average, although off the highs.
Netflix (NFLX) is providing support on the growth side and making Communication Services the best performing sector.
S&P 500 Index |
+0.52% |
|
Communication Services XLC |
+1.22% |
|
Consumer Discretionary XLY |
+1.10% |
|
Consumer Staples XLP |
-0.69% |
|
Energy XLE |
+0.26% |
|
Financials XLF |
-0.23% |
|
Health Care XLV |
-0.83% |
|
Industrials XLI |
+0.31% |
|
Materials XLB |
-0.35% |
|
Real Estate XLRE |
-0.24% |
|
Technology XLK |
+1.15% |
|
Utilities XLU |
-0.55% |
Don’t look now, but there are serious cracks in the housing boom. Mortgage applications dropped to a 22-year low. Existing home sales for last month swooned down 5.4%, the street was looking for a more modest decline of 1.1%.
If the Fed is looking to curb the wealth effect, it has to bust the housing boom.
Tesla (TSLA) reports after the close, the stock has rallied twice on the same day they reported in the last six quarters.
Earnings Stock Reaction TSLA |
1 Week |
1 Day |
4/20/22 |
-10.4% |
+2.5% |
1/26/22 |
-3.3% |
-11.5% |
10/20/21 |
+20.1% |
+3.4% |
7/26/21 |
+8.2% |
-1.7% |
4/26/21 |
-6.8% |
-4.2% |
1/27/21 |
-1.7% |
-3.9% |
Tweet |
3/28/2024 1:39 PM | Fruitful Quarter |
3/28/2024 9:50 AM | LISTEN TO THE MARKET |
3/27/2024 1:40 PM | Mostly Higher |
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 |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|