Reply To: China and America, a Tale of Two Markets – Traders Market Weekly

#73138
Truman
Participant

Morning Market
Dow 38672.35 -53.98 (-0.14%)
Nasdaq 15874.12 +80.41 (0.51%)
SP 500 5007.04 +9.13 (0.18%)
10-yr Note -1/32 4.172
NYSE Adv 1308 Dec 1247 Vol 100 mln
Nasdaq Adv 2269 Dec 1603 Vol 1.3 bln

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

Moving the Market
— Gains in mega cap stocks supporting broader market
— Mixed responses to earnings news since yesterday’s close
— S&P 500 passing the 5,000 level
— Digesting the relatively friendly annual CPI revisions

The Vanguard Mega Cap Growth ETF (MGK) is up 0.5%. NVIDIA (NVDA 708.76, +12.14, +1.7%), Amazon.com (AMZN 170.83, +0.99, +0.6%), and Alphabet (GOOG 148.14, +0.92, +0.6%) are among the influential winners from the space while Meta Platforms (META 469.34, -0.56, -0.1%) underperforms, likely to due to some profit-taking activity after climbing 32.6% since the start of the year.

The mixed disposition is partially a reflection of mixed responses to earnings news.
PepsiCo (PEP 167.66, -6.19, -3.5%) is a standout loser after reporting quarterly results, weighing on the S&P 500 consumer staples sector (-0.8%).

Cloudflare (NET 112.85, +22.1, +24.7%) are surging after reporting earnings.