Afternoon Note
By Karina Hernandez, Senior Research Analyst
12/8/2022 1:57 PM
The market continues to wait for more economic data leading up to next week’s Fed interest rate decision. The S&P is proving to be stubborn, re-testing key support of 3,945 and hoping to end a five-day losing streak.
The 50-day moving average crossed below the 200-day moving average, forming a so-called death cross. It simply means recent selling is so intense that it’s overwhelming the pace of a longer-term decline. The last time there was a death cross of the VIX so called “fear index”, it shot straight up to 35.
Technology is the best sector this afternoon with semiconductors such as Monolithic Power Systems, Inc (MPWR) and NVIDIA Corporation (NVDA) among the best performers in the S&P 500 ahead of Broadcom (AVGO) fourth quarter results after the bell.
All eyes on the producer price index tomorrow. It is expected to have gained 7.2% in November, down from 8% in October.
| Tweet |
Log In To Add Your Comment
| 3/31/2023 1:37 PM | Leaving the Station |
| 3/31/2023 9:37 AM | BRACING FOR INFLATION |
| 3/30/2023 1:54 PM | Losing Some Steam |
| 3/30/2023 9:36 AM | A FUNNY WAY OF BEING AFRAID |
| 3/29/2023 1:37 PM | Bottom Fishers |
| 3/29/2023 9:41 AM | TOO CALM AND COMPLACENT? |
| 3/28/2023 1:31 PM | No Fireworks |
| 3/28/2023 9:47 AM | TIME MACHINE RALLY |
| 3/27/2023 1:34 PM | Holding Pattern |
| 3/27/2023 9:59 AM | SUDDENLY, BULLISH IS WHERE IT’S AT |
| 3/24/2023 1:25 PM | Magical |
| 3/24/2023 10:14 AM | YELLEN’S TWO-STEP TRIPS UP THE MARKET |
| 3/23/2023 1:14 PM | Embarrassing Snafu |
| 3/23/2023 9:37 AM | GOVERNMENT OFFICIALS PROTESTING TOO MUCH |
| 3/22/2023 1:23 PM | All Quiet |
| 3/22/2023 9:42 AM | THE MOMENT OF TRUTH #1,309 |
| 3/21/2023 1:12 PM | Lots of Questions |
| 3/21/2023 9:49 AM | WHAT’S INSIDE POWELL’S CRYSTAL BALL? |
| 3/20/2023 1:58 PM | All Over the Place |
| 3/20/2023 9:36 AM | FED COUNTDOWN BEGINS |
| 3/17/2023 1:45 PM | Banks Remain Vulnerable |
| 3/17/2023 9:54 AM | FED VS THE FED (IT’S COMPLICATED) |
| 3/16/2023 1:27 PM | Another Crazy Day |
| 3/16/2023 9:53 AM | THRILL RIDE |
| 3/15/2023 1:43 PM | Economic Data Overshadowed |
| More commentary archives | |
|
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|