Market Commentary
Major indices are relatively flat today, with the Dow Jones and Russell 2000 in the red, while the S&P 500 and Nasdaq Composite are in the green. Once again today, the Nasdaq Composite takes the lead.
Once again only three of eleven sectors are in the green; however, this time Energy (XLE) is in the lead instead of Technology (XLK), which still takes second place so far. The largest loser today is Consumer Discretionary (XLY) dragged down mostly by underperformance of Tesla (TSLA).
Energy is staging a massive move following President’s Bide comments on Iran. Oil rose up to 5% this afternoon and is getting closer to its 50-day moving average.
September ISM Services rose to 54.9, surpassing the consensus of 51.7 and at its highest level since February 2023. The results show some inconsistencies though, as Employment remains in contraction while new orders and business orders grew considerably higher from August’ results.
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11/13/2024 1:21 PM | Rate Cut Bets |
11/13/2024 10:01 AM | RENEWED HOPE FOR PEACE & STRENGTH |
11/12/2024 1:33 PM | Profit Taking Tuesday |
11/12/2024 9:47 AM | FLAME ON |
11/11/2024 1:07 PM | Tired Rally |
11/11/2024 9:49 AM | The Markets Are Pumped |
11/8/2024 1:04 PM | Stellar Week |
11/8/2024 9:47 AM | POWELL GETS TOUGH (WITH TRUMP, NOT INFLATION) |
11/7/2024 12:57 PM | Rate Decision |
11/7/2024 9:55 AM | THE SWAGGER IS BACK |
11/6/2024 1:25 PM | Trump Trade Bonanza |
11/6/2024 9:47 AM | Election Rally |
11/5/2024 12:54 PM | Holding the Script |
11/5/2024 9:50 AM | VOTE, AMERICA |
11/4/2024 1:32 PM | Election Fear |
11/4/2024 9:55 AM | THE CANARY SQUAWKS |
11/1/2024 1:10 PM | Lots of Excuses |
11/1/2024 9:33 AM | LEAD BALLOONS |
10/31/2024 1:52 PM | Difficult Sledding |
10/31/2024 10:01 AM | TOO COCKY? |
10/30/2024 1:45 PM | Check Time |
10/30/2024 9:44 AM | GENERALS LEAD…KEEP UP IF YOU CAN |
10/29/2024 1:47 PM | All Eyes on Google |
10/29/2024 9:09 AM | DJT SETS THE PACE |
10/28/2024 1:43 PM | Busy Week |
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