Market Commentary
Steady as she goes, it isn’t a runaway session. All the major equity indices that serve as proxies for the overall market are in the green. Energy leads the way in the S&P 500, while Utilities lag.
Bond yields are higher, and the ten-year bond yield is at 4.16%, and above the 200-day moving average.
Breadth is positive this afternoon, and there are more new highs than new lows.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,363 |
2,368 |
Decliners |
1,406 |
1,662 |
New Highs |
130 |
189 |
New Lows |
20 |
85 |
Up Volume |
906.3 million |
2.25 billion |
Down Volume |
919.3 million |
772.9 million |
On the economic front, December wholesale sales rose 0.7%m/m, surpassing the consensus of +0.3%. Inventories gained +0.4%, surpassing last month’s decline -0.4%. Last time both sales and inventories gained was in February 2023.
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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 |
4/30/2024 9:48 AM | CHIPS TAKE THE LEAD |
4/29/2024 1:39 PM | Musk Rides Back to the Mag Seven |
4/29/2024 9:50 AM | DIE BY THE SWORD, PROSPER BY THE SWORD |
4/26/2024 1:46 PM | Full Steam |
4/26/2024 9:39 AM | BIG TECH STEPS UP |
4/25/2024 1:16 PM | Don't' Bury me, Yet! |
4/25/2024 9:27 AM | THERE CAN ONLY BE ONE |
4/24/2024 1:30 PM | Earnings Flood In |
4/24/2024 9:26 AM | BUYING THE DIP |
4/23/2024 1:25 PM | Bloom Off Rose |
4/23/2024 9:32 AM | WHAT HAPPENED TO THE BRAVADO? |
4/22/2024 1:22 PM | Pins and Needles |
4/22/2024 9:30 AM | LIVE BY THE SWORD … |
4/19/2024 1:20 PM | Fair Chunk of Rotation |
4/19/2024 9:35 AM | DON’T OVERREACT |
4/18/2024 1:37 PM | Didn’t Break Down |
4/18/2024 9:40 AM | MARKET OFF SCRIPT |
4/17/2024 1:59 PM | Facing Pressure |
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