Wall Street Strategies
Hello! Sign in or Register

Afternoon Note

Tech Slides

By Karina Hernandez, Senior Research Analyst
2/20/2024 1:05 PM

The market is down or appearing sluggish with more losers and losing sectors than winners and winning sectors.

A pie chart with numbers and symbolsDescription automatically generated

A screenshot of a computerDescription automatically generated

Technology (XLK) is shaken mostly by those mega-cap names at the center of the Artificial Intelligence (A.I.) hype.

A screenshot of a websiteDescription automatically generated

It’s okay for the Philly Semiconductor (SOX) Index to pull back here, but I’d like to see it hold at the 50-day moving average.

A graph of stock marketDescription automatically generated

On the economic front, the Conference Board Leading Economic (LEI)indicator dropped -0.4%m/m in January, missing the consensus of -0.3%. The Conference Board no longer expects a recession in 2024 but forecasts real GDP growth to slow to 0% for Q2 and Q3.

Notably, six out of the LEI’s ten components were positive over the six-month period, the last time this happened was 2021.




Log In To Add Your Comment

Home | Products & Services | Education | In The Media | Help | About Us |
Disclaimer | Privacy Policy | Terms of Use |
All Rights Reserved.