Afternoon Note
Looks like investors are still in a cheerful mood, as they continue to unwrap their stock market presents. All the major indices are trading in the green. Once again, the Russell 2000 is the best performer, up 1.04%.
On the S&P 500, Energy is outperforming as WTI trades up 2.6% to $75.45 on middle east concerns and rate cut hopes. Healthcare is a laggard today.
Housing is a bigger winner today as home prices have hit the highest level in a year. According to the S&P 500 CoreLogic Case-Shiller 20-city home price index, housing in the U.S. rose 4.9% year over year in October.
Advancers top decliners, 3.5 to 1 on the NYSE and 2-1 on the Nasdaq. Also new highs are continuing to outpace new lows, a great sign.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
2,109 |
2,776 |
Decliners |
662 |
1,346 |
New Highs |
142 |
245 |
New Lows |
3 |
46 |
Up Volume |
755.34 million |
2.81 billion |
Down Volume |
228.17 million |
456.99 million |
In other economic news, the Chicago Fed National Activity Index was up 0.03 in November, from the previous month’s revised -0.66. All 4 broad categories rose.
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5/7/2024 1:50 PM | Building Gains |
5/7/2024 9:36 AM | HOPING MICKEY SAVES THE DAY |
5/6/2024 1:59 PM | Rate Cut Hopes |
5/6/2024 9:17 AM | LOOKING FOR MOMO TO KICK BACK IN |
5/3/2024 1:41 PM | Cheering the News |
5/3/2024 7:33 AM | TIM COOKS THE (RECORD) BOOKS |
5/2/2024 1:54 PM | Holding Up |
5/2/2024 9:41 AM | COOL HAND POWELL |
5/1/2024 1:22 PM | Which Powell? |
5/1/2024 9:40 AM | MAY DAY, MAY DAY, MAY DAY |
4/30/2024 1:02 PM | Complete Flop |
4/30/2024 9:48 AM | CHIPS TAKE THE LEAD |
4/29/2024 1:39 PM | Musk Rides Back to the Mag Seven |
4/29/2024 9:50 AM | DIE BY THE SWORD, PROSPER BY THE SWORD |
4/26/2024 1:46 PM | Full Steam |
4/26/2024 9:39 AM | BIG TECH STEPS UP |
4/25/2024 1:16 PM | Don't' Bury me, Yet! |
4/25/2024 9:27 AM | THERE CAN ONLY BE ONE |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
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