Reply To: Traders Market Weekly: Hello 2024, Unexpected Opportunity on The Menu

#69742
Truman
Participant

Market Morning
Dow 37623.65 +193.46 (0.52%)
Nasdaq 14589.43 -2.78 (-0.02%)
SP 500 4716.76 +11.95 (0.25%)
10-yr Note -6/32 3.989
NYSE Adv 1635 Dec 1052 Vol 152 mln
Nasdaq Adv 2119 Dec 1872 Vol 1.7 bln

Industry Watch
Strong: Financials, Industrials, Health Care, Utilities, Energy, Consumer Staples
Weak: Information Technology, Consumer Discretionary, Communication Services

Moving the Market
— AAPL loss weighing over market after downgrade to Neutral from Overweight at Piper Sandler

— Rising market rates; 10-yr note yield nearing 4.00% again

— Digesting better than expected labor market data

The S&P 500 health care sector is outperforming the broader market, trading up 0.7%. A gain in Eli Lilly (LLY 628.20, +10.53, +1.7%) after announcing LillyDirect, whereby patients can obtain obesity, migraine, and diabetes medications direct from Eli Lilly, has contributed to the sector’s gains.

In other corporate news, Walgreens Boots Alliance (WBA 23.24, -2.32, -9.1%) is trading down after topping fiscal Q1 expectations and slashing its dividend by 48%. This loss is limiting upside moves for the consumer staples sector, which sports a 0.4% gain.