Reply To: Traders Market Weekly: Valuation Matters in Earnings Season

#40106
TradersCom
Keymaster

Wynn Resorts (WYNN 52.81, -3.65, -6.5%) and Las Vegas Sands (LVS 32.21, -2.17, -6.3%), trading down in response to the news from Macau. To be fair, the second biggest sector component, Tesla, lost nearly 7% falling back below its 50-day moving average. Meanwhile, the largest discretionary component, Amazon.com (AMZN 111.75, -3.79, -3.3%), also fell back below its 50-day moving average but recorded a slimmer loss.

The 2s10s spread stayed inverted with the 2-yr note yield settling down six basis points to 3.06% and the 10-yr note yield settling down 11 basis points to 2.99%.