Reply To: Traders Market Weekly: Rates, Banks and Herd Mentality


Market at lunch
Dow 39362.84 -113.06 (-0.29%)
Nasdaq 16404.88 -23.94 (-0.15%)
SP 500 5226.48 -7.70 (-0.15%)
10-yr Note -4/32 4.246
NYSE Adv 1510 Dec 1184 Vol 153 mln
Nasdaq Adv 2066 Dec 1959 Vol 1.7 bln

Industry Watch
Strong: Energy, Materials
Weak: Communication Services, Information Technology, Industrials, Financials

Moving the Market
— Normal consolidation after another week of gains for the major indices
— Weakness in mega cap stocks after the EU commission opened non-compliance investigations against Alphabet (GOOG), Apple (AAPL), and Meta Platforms (META) under the Digital Markets Act
— Softness in semiconductor-related names after China blocked the use of Intel (INTC) and AMD (AMD) chips in government computers, according to FT