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 |
7/26/2024 1:36 PM | Friday Recovery |
7/26/2024 9:29 AM | WRAPPED AROUND YOUR FINGER |
7/25/2024 12:58 PM | A Look at GDP |
7/25/2024 9:57 AM | TURNING THE PAGE ON RESOLVE |
7/24/2024 1:49 PM | Vulnerable Market |
7/24/2024 9:47 AM | Mega Misses |
7/23/2024 1:04 PM | Lay Summer Session |
7/23/2024 9:25 AM | MOST EXPANSIVE BREADTH = GREATER OPTIMISM |
7/22/2024 1:23 PM | Rebounding |
7/22/2024 9:47 AM | WILL THE HUNT FOR VALUE CONTINUE? |
7/19/2024 1:32 PM | Under Pressure |
7/19/2024 9:56 AM | STAR FOR ONLY A WEEK? |
7/18/2024 1:30 PM | All Eyes on Netflix |
7/18/2024 10:18 AM | BIG BETS ON TRUMP TRADE |
7/17/2024 1:37 PM | Technology Troubles |
7/17/2024 9:59 AM | EMPHATIC! |
7/16/2024 12:44 PM | AI Drifting Lower |
7/16/2024 9:52 AM | NEW KIND OF WINNING |
7/15/2024 1:32 PM | Small Caps On The Move |
7/15/2024 9:50 AM | FULL SPEED AHEAD |
7/12/2024 12:56 PM | Intriguing Small Caps |
7/12/2024 9:48 AM | IT’S GOOD TO BE THE KING |
7/11/2024 1:25 PM | Equal Weight Comeback? |
7/11/2024 9:42 AM | CALLING ALL STOCKS |
7/10/2024 1:15 PM | Rally Broadens |
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