Afternoon Note
It is a mixed day with chip names taking a breather, which has been a fundamental driver of the current market’s bullish move. Yields recovered some after a steep decline following the strong 30-year bond auction.
The US treasury sells 30-year bonds at 4.331% vs. 4.352% when issued. This is a solid bond auction, which is a sign of relief after yesterday's poor 10-year auction.
Energy is the best performing sector, in response to rising oil prices (WTI +2.6%), followed by Materials.
The New York Stock Exchange (NYSE) and Nasdaq Composite are enjoying an edge of advancers over decliners, with more new highs than lows in both indexes.
Market Breadth |
NYSE |
NASDAQ |
Advancers |
1,918 |
2,385 |
Decliners |
900 |
1,682 |
New Highs |
253 |
161 |
New Lows |
19 |
92 |
Up Volume |
1.47B |
1.61B |
Down Volume |
535.5M |
1.05B |
All eyes to retail sales and PPI tomorrow.
Tweet |
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 |
4/17/2024 9:37 AM | POWELL STILL WANTS TO HELP |
4/16/2024 1:35 PM | Muted |
4/16/2024 9:42 AM | FEAR ARRIVES |
4/15/2024 1:17 PM | Making a Statement |
4/15/2024 9:45 AM | Equal Opportunity Drubbing |
4/12/2024 1:37 PM | Pressure Overall |
4/12/2024 9:42 AM | WHO YA GONNA CALL? |
4/11/2024 1:38 PM | No Urgency |
4/11/2024 9:27 AM | Tough Sledding |
4/10/2024 1:22 PM | Hang In There |
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