Reply To: Traders Market Weekly: Record Highs with Netflix, PCE & Tesla Risk

#70379
Truman
Participant

Market Snapshot
Dow 37202.53 -64.14 (-0.17%)
Nasdaq 15005.02 +149.40 (1.01%)
SP 500 4755.71 +16.50 (0.35%)
10-yr Note 0/32 4.107
NYSE Adv 1204 Dec 1445 Vol 171 mln
Nasdaq Adv 1905 Dec 2096 Vol 2.1 bln

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

Moving the Market
— Relative strength in mega cap stocks; AAPL upgraded to Buy from Neutral at Bank of America

— Strength in semiconductor stocks after TSMC (TSM) reported earnings

— Digesting another batch of strong economic data

Financials underperform after DFS, KEY results
18-Jan-24 11:00 ET
Dow -64.14 at 37202.53, Nasdaq +149.40 at 15005.02, S&P +16.50 at 4755.71
[BRIEFING.COM] Things are little changed at the index level recently.

The S&P 500 financial sector is trading down 0.3% after some components reported earnings results since yesterday’s close. Namely, Discover Financial Services (DFS 100.16, -8.58, -7.9%) is struggling under selling pressure today after disappointing with quarterly results. KeyCorp (KEY 13.30, -0.53, -3.9%) is another top laggard from the sector after its earnings report.

Meanwhile, Truist (TFC 36.09, +0.31, +0.9%) and M&T Bank (MTB 131.48, +0.52, +0.4%) trade up on their results.

Market breadth reflects overall positive bias

The S&P 500 (+0.4%) and Nasdaq Composite (+1.0%) have maintained their relative outperformance while the Dow Jones Industrial Average (-0.1%) narrowed its early loss.

Market breadth reflects an overall positive vibe driving today’s price action. Advancers lead decliners by a roughly 3-to-2 margin at both the NYSE and the Nasdaq.