Afternoon Note
Stocks are edging lower as the Street observes the development from the highly anticipated meeting between President Biden and House Speaker Kevin McCarthy on a fast-approaching debt ceiling deadline. The Street is also paying attention to the latest comments from New York Fed President Williams who said he is not expecting any cut on rates in 2023 and expects inflation to hit 3.25% this year.
Notably, the S&P 500 continues to struggle to break above 4,200 despite spending so much time below it and the VIX below 16.
Only two sectors are in green, with Energy and Industrials holding a slight gain.
Breadth is very weak this afternoon.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,120 |
1,599 |
Decliners |
1,787 |
2,606 |
New Highs |
41 |
62 |
New Lows |
68 |
160 |
Up Volume |
852.33 million |
1.06 billion |
Down Volume |
992.81 million |
1.27 billion |
All eyes are on the inflation data tomorrow with headline inflation expected to increase 5% from a year ago, and on a “core” basis, it is expected to have increased to 0.4% over the prior month.
Tweet |
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 |
3/12/2024 9:25 AM | ROTATION IN FULL SWING |
More commentary archives |
Home |
Products & Services |
Education |
In The Media |
Help |
About Us |
Disclaimer | Privacy Policy | Terms of Use | All Rights Reserved.
|