Reply To: Traders Market Weekly: Balancing Expectations, Earnings and Money Flow


Dow +81.13 at 34428.47, Nasdaq +108.10 at 14027.44, S&P +21.51 at 4494.94

S&P 500 and Nasdaq trade near their best levels of the day. The S&P 500 is stuck just below the 4,500 level, reaching 4,499 at its high of the day.

The advance-decline favors advancers by a 5-to-2 margin at the NYSE and a better than 2-to-1 margin at the Nasdaq.

Small caps and semiconductor stocks are outperforming, reflecting the market’s positive economic outlook. The Russell 2000 is up 0.8% and the PHLX Semiconductor Index is up 0.8%.

The Vanguard Mega Cap Growth ETF (MGK) is up 0.9% and the Invesco S&P 500 Equal Weight ETF (RSP) is up 0.4%.

The positive bias has nine of the 11 S&P 500 sectors trading up. The communication services (+1.3%), information technology (+0.7%), and consumer discretionary (+0.7%) sectors lead the pack while the real estate (-0.4%) and consumer staples (-0.1%) sectors bring up the rear.

Treasury yields are moving lower again today, acting as a source of support to the equity market.

The 2-yr note yield is down nine basis points to 4.65% and the 10-yr note yield is down five basis points to 3.81%.