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Afternoon Note

Wait and See

By Karina Hernandez, Senior Research Analyst
8/9/2024 1:02 PM

All major indices are slightly down so far today, with the Russell 2000 (RUT) declining the most. The RUT is currently down -0.54%.

In the treasury market, the 10-year yield gave up yesterday’s gains.

Only five out of eleven sectors are in the green so far today. The biggest winner this afternoon is Health Care (XLV), followed closely by Real Estate (XLRE). Industrials (XLK) saw the steepest decline so far today.

Market breadth is mostly even in the NYSE. There is an uptick in volume on the Nasdaq Composite which highlights the frenzied nature of investors chasing performance at the moment.

Market Breadth

NYSE

NASDAQ

Advancers

1,215

1,549

Decliners

1,536

2,374

New Highs

40

44

New Lows

45

123

Up Volume

748.5 million

1.93 billion

Down Volume

730.2 million

1.34 billion

Feels like more of the same kind of wait-and-see into the CPI report this week.
 

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