Reply To: Traders Market Weekly: America on Show; Big Oil, Apple, FOMC and Boeing


Morning Market
Dow 37998.31 +134.51 (0.36%)
Nasdaq 15348.65 +37.68 (0.25%)
SP 500 4849.14 +9.33 (0.19%)
10-yr Note +26/32 4.089
NYSE Adv 2128 Dec 603 Vol 209 mln
Nasdaq Adv 2889 Dec 1217 Vol 2.0 bln

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

Moving the Market
— Ongoing strength in tech stocks
— Upside momentum after record close for S&P 500
— Drop in market rates

Small caps outperform; TSLA rolls over

Small cap stocks are outperforming today as gains broaden out. The Russell 2000 is up 1.6%, which leaves its loss for the year at 2.6%.

Tesla (TSLA 209.89, -2.30, -1.1%) rolled over recently, weighing down the major indices. The S&P 500 consumer discretionary sector (-0.5%) is showing the steepest loss now among the three sectors that are trading down.

WTI crude oil futures are up 1.5% to $74.32/bbl, likely tied to new developments in the Middle East that may disrupt supplies. Houthi rebels are seeking more weapons from Iran, according to Politico.