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Afternoon Note

Marking Time Until Jobs Report

By Karina Hernandez, Senior Research Analyst
1/4/2024 1:57 PM

The market is exhibiting mixed action and is mostly marking time until the jobs report.

The semiconductor index is well off its lows helped by NVIDIA Corporation (NVDA), but other semiconductor stocks like ON Semiconductor Corporation (ON) are dropping sharply.

Ten sectors were in positive territory earlier, but now only five of them are up now. Financials is the best performing sector with Allstate Corp (ALL) being the top performer following this morning’s upgrade on the stock at Morgan Stanley.

Advancers are leading decliners this afternoon with more new highs than lows.

Market Breadth

NYSE

NASDAQ

Advancers

1,527

2,157

Decliners

1,278

1,985

New Highs

59

69

New Lows

13

68

Up Volume

953.1 million

1.54 billion

Down Volume

743 million

1.46 billion

 


 

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