Afternoon Note
Industrial production was cooler-than-expected at -0.1%m/m; consensus 0.0%m/m. The soft number combined with the weak retail sales this morning is possibly a relief for bonds and stocks, which have been worried about a no landing scenario.
Homebuilder Sentiment Float
The National Association of Homebuilders (NAHB) Sentiment came in at 48 from 44 in the prior month against Wall Street’s consensus of 46. Prospective buyer traffic expected sales, and current sales increased.
Energy and Real Estate sit at the top of the leaderboard as yields slip, while weak leadership from mega-cap names are dragging down Technology this afternoon.
Breadth is decidedly bullish.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
2,254 |
2,855 |
Decliners |
545 |
1,295 |
New Highs |
182 |
191 |
New Lows |
14 |
58 |
Up Volume |
1.73 billion |
2.78 billion |
Down Volume |
397.4 million |
1.08 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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