Reply To: Traders Market Weekly: Inflation and Bank Earnings


Last year’s best sector, the energy sector $XLE -3.6% was the worst performer today as energy complex futures sold off hard:

WTI crude #oil futures fell 3.9% to $76.97/bbl
HH #naturalgas futures fell 10.4% to $3.68/mmbtu.

Sizable losses in Tesla (TSLA 108.10, -15.08, -12.2%), which disappointed with Q4 deliveries, Microsoft (MSFT 239.58, -0.24, -0.1%), NVIDIA (NVDA 143.15, -2.99, -2.1%), and Apple (AAPL 125.07, -4.86, -3.7%), which reportedly told suppliers to build fewer components for several devices in Q1 due to weakening demand, were among the more notable standouts in that respect.

Not all the mega-cap stocks sold off today.

Gains in Meta Platforms (META 124.75, +4.40, +3.7%) and Alphabet (GOOG 89.70, +0.97, +1.1%) helped propel the S&P 500 communication services sector (+1.4%) to first place on the leaderboard. (AMZN 85.82, +1.82, +2.2%) helped temper the losses in the consumer discretionary sector (-0.6%) that were driven by Tesla.