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


Morning Market
Dow 38072.37 +23.24 (0.06%)
Nasdaq 15471.46 -39.04 (-0.25%)
SP 500 4890.29 -3.87 (-0.08%)
10-yr Note -24/32 4.150
NYSE Adv 1667 Dec 907 Vol 884 mln
Nasdaq Adv 2260 Dec 1584 Vol 1.0 bln

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

Moving the Market
— Reacting to the December PCE Price Indexes, which validated the market’s soft landing view
— Treasury yields moving slightly higher in response to the data
— Weakness in semiconductor stocks following disappointing guidance from Intel (INTC) and KLA Corporation (KLAC)
— Weakness in some mega cap stocks after big gains to start the year

Weak semiconductor stocks weigh on broader market

Weakness in semiconductor-related stocks has weighed down the broader market following disappointing guidance from Intel (INTC 43.79, -5.76, -11.6%) and KLA Corporation (KLAC 609.02, -32.67, -5.1%).
The PHLX Semiconductor Index (SOX) is down 2.3%.

Market breadth is positive and eight S&P 500 sectors are trading higher. Advancers lead decliners by a better than 2-to-1 margin at the NYSE and by a 3-to-2 margin at the Nasdaq.

None of the S&P 500 sectors are moving more than 0.7% in either direction. The information technology sector shows the steepest loss due to weak semiconductor constituents and a loss in Microsoft (MSFT 403.74, -1.19, -0.3%).

Health care (+0.5%) and consumer discretionary (+0.4%) sectors show the largest gains.