Afternoon Note
Factory orders slipped 1.6% after increasing 1.7% in December but beating consensus of a decline of 1.8%. A plunge in demand for civilian aircraft caused the drop; however, an increase in machinery and other products indicate that manufacturing could be regaining its footing.
Eight of eleven S&P 500 sectors are higher on the session, with Materials (XLB) stumbling hard. Information Technology (XLK) is at the top of the list, powered by semiconductors, which continue to come on strong. High Beta stocks are faring well once again.
Interestingly, breadth is negative in the NYSE and Nasdaq with more decliners than advancers.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,437 |
1,894 |
Decliners |
1,547 |
2,395 |
New Highs |
79 |
79 |
New Lows |
17 |
46 |
Up Volume |
1.04 billion |
1.63 billion |
Down Volume |
777.6 million |
1.02 billion |
The rally is losing steam as investors eye Powell’s testimony tomorrow.
Tweet |
7/18/2025 1:14 PM | Consumer Tariff Worries Subside |
7/18/2025 9:45 AM | America is in Play |
7/17/2025 1:27 PM | Extreme Greed Resumes |
7/17/2025 10:15 AM | A Fundamental Move |
7/16/2025 1:39 PM | Market Gyrations |
7/16/2025 9:44 AM | THE MAG ONE (NVDA) |
7/15/2025 1:35 PM | Semis Rise & Banks Slide |
7/15/2025 10:13 AM | THE CURIOUS CASE |
7/14/2025 1:32 PM | Decisive Week |
7/14/2025 9:32 AM | GET READY! |
7/11/2025 1:45 PM | Facing Pressure |
7/11/2025 9:48 AM | CLEAR FOR TAKEOFF |
7/10/2025 1:53 PM | Small Caps Rally |
7/10/2025 9:56 AM | ENOUGH ZEN TO SHARE |
7/9/2025 1:32 PM | NVDA New Milestone |
7/9/2025 9:46 AM | PASSING THE BATON |
7/8/2025 1:33 PM | Seesaw Session |
7/8/2025 9:55 AM | MORE SUMMER BLAHS THAN FEAR OF MYANMAR'S TARIFF |
7/7/2025 1:27 PM | Trade Talks and Profit Taking |
7/7/2025 9:51 AM | LOVING MOOD |
7/3/2025 9:45 AM | NICE & STEADY AS SEMIS CONTINUE TO CHIP IN |
7/2/2025 1:44 PM | Materials' Strength Continues |
7/2/2025 9:38 AM | BARNBURNER |
7/1/2025 1:29 PM | Rotation |
7/1/2025 9:45 AM | FEAR OF MISSING OUT IS CREEPING IN |
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