Afternoon Note
Nasdaq has almost recovered the entirety of the sell-off of yesterday thanks to outsized gains from NVIDIA (NVDA). On the other hand, the Dow is in red dragged by a 7% drop in Intel (INTC), which competes with NVIDIA and Advanced Micro Devices (AMD) in the data center space.
Debt ceiling talks continue, and U.S. Representative Kevin Hern believes a debt limit deal could be reached tomorrow morning. To this, House Speaker McCarthy said today “we worked well past midnight last night. And yesterday, I thought, was a very good day. We made some progress.” It’s a wait-and-see game.
Consumer Staples is leading the pack of worst performers with Dollar Tree (DLTR) down 10% after the company lowered its profit outlook due to shrink-theft, damage, and other losses.
Market breadth is negative with decliners leading advancers by an almost 2-to-1 margin at the NYSE and NASDAQ.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
829 |
1,235 |
Decliners |
2,074 |
2,992 |
New Highs |
26 |
62 |
New Lows |
129 |
159 |
Up Volume |
564.17 million |
1.19 billion |
Down Volume |
1.53 billion |
1.54 billion |
Tweet |
5/8/2025 1:49 PM | First Trade Deal |
5/8/2025 9:37 AM | POWELL SEES NOTHING |
5/7/2025 12:53 PM | Powell Under Pressure |
5/7/2025 9:48 AM | THE LUXURY OF BEING GREEDY |
5/6/2025 1:20 PM | Anxiety Continues |
5/6/2025 9:45 AM | ANXIETY RETURNS |
5/5/2025 1:18 PM | Market Consolidating |
5/5/2025 9:41 AM | MID-CAP MUSCLE |
5/2/2025 1:19 PM | Labor Market Resilience |
5/2/2025 9:57 AM | BACK TO THE STARTING LINE |
5/1/2025 1:31 PM | Big Tech Resilience |
5/1/2025 9:52 AM | MAMA SAID |
4/30/2025 1:35 PM | Midday Recovery |
4/30/2025 9:52 AM | BIG HITTERS ON DECK |
4/29/2025 1:49 PM | Fluctuating |
4/29/2025 9:48 AM | BUY SIGNALS & RECESSION TALK |
4/28/2025 1:22 PM | Earnings Angst |
4/28/2025 10:03 AM | BIG TEST |
4/25/2025 1:16 PM | Quiet Friday |
4/25/2025 9:57 AM | HYSTERIA TO HOPE |
4/24/2025 1:12 PM | Solid Session |
4/24/2025 9:35 AM | VIOLENT SWINGS AND THE RECOVERY |
4/23/2025 1:45 PM | Fears Ease |
4/23/2025 9:38 AM | FUNDAMENTALS & HOPE |
4/22/2025 12:42 PM | Tuesday Reputation |
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