Afternoon Note
Stocks are mostly higher this afternoon, pointing to another record-setting session, as investors cheered a revision of December’s inflation data.
The market has been pricing in cuts for so long, yet the S&P 500 has gained 15% since the Fed started hiking rates in March of 2022.
Only four sectors are in the plus column with Technology, Consumer Discretionary and Communication Services at the top of the leaderboard.
Financials is another sector in the green, benefiting from a rebound in regional banks.
Our two favored metrics are positive this afternoon, although overall volume is light.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,660 |
2,632 |
Decliners |
1,101 |
1,452 |
New Highs |
149 |
247 |
New Lows |
19 |
69 |
Up Volume |
805.2 million |
2.68 billion |
Down Volume |
1.07 billion |
843.29 million |
Have a great weekend.
Tweet |
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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