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Afternoon Note

Mixed Day

By Karina Hernandez, Senior Research Analyst
2/6/2024 1:42 PM

Major indices are struggling for direction as the Street awaits a slew of Federal Reserve speakers scheduled to speak today. Loretta Mester kicked it off at 12:00 ET.

The bigger companies are dragging down the Nasdaq with NVIDIA (NVDA), Advanced Micro Devices (AMD) among others down this afternoon. Technology is the worst performer while Materials -with gains from DuPont (DD) - leads the outperforming sectors.

A graph of a companyDescription automatically generated with medium confidence

Market breadth shows buyers are more determined than sellers, but chasing winners has become a mixed theme; hence, more new highs than new lows in only one index.

Market Breadth

NYSE

NASDAQ

Advancers

2,014

2,571

Decliners

794

1,502

New Highs

75

86

New Lows

36

103

Up Volume

1.65 million

1.83 billion

Down Volume

516.7 billion

996.1 million

 

Solid 3-year auction this afternoon, but it didn’t cause much movement in the market.


Comments
I enjoy your comments above the market on the daily briefing. Thanks.

Peter Tobias on 2/6/2024 2:06:43 PM
 

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