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.
Tweet |
5/16/2024 1:23 PM | Dow 40,000 |
5/16/2024 9:40 AM | AUTOPILOT FEELS SO GOOD |
5/15/2024 1:53 PM | New Hope |
5/15/2024 9:41 AM | CHAMPING AT THE BIT (INVESTORS BEGINNING TO CHASE) |
5/14/2024 1:24 PM | Small Moves |
5/14/2024 9:22 AM | Marking Time |
5/13/2024 1:37 PM | Snuffed Out |
5/13/2024 9:37 AM | BRACING FOR MORE INFLATION DATA |
5/10/2024 1:23 PM | Cold Water |
5/10/2024 9:58 AM | IN TUNE |
5/9/2024 1:09 PM | Disconnect |
5/9/2024 9:39 AM | THE SEVENTH (TRADING) DAY OF MAY |
5/8/2024 1:49 PM | Mixed Note |
5/8/2024 9:37 AM | CHANGING NARRATIVES |
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 |
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