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

#73428
Truman
Participant

Market Morning
Dow 39557.78 +275.45 (0.70%)
Nasdaq 16282.14 -33.56 (-0.21%)
SP 500 5218.20 +14.62 (0.28%)
10-yr Note +1/32 4.228
NYSE Adv 2020 Dec 625 Vol 96 mln
Nasdaq Adv 2469 Dec 1425 Vol 923 mln

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

Moving the Market
— Ongoing inclination to buy on weakness after yesterday’s late slide
— Weakness in mega cap names limiting index performance
— Treasury yields moving slightly lower

NVIDIA (NVDA 903.31, -23.45, -2.6%) and Broadcom (AVGO 1309.17, -22.32, -1.7%) leading the information technology sector to trade down 0.2%. It is the only sector trading lower while the remaining ten sectors show gains ranging from 0.1% to 1.5%.

The real estate (+1.5%), utilities (+1.4%), and industrial (+1.0%) sectors are trading up by at least 1.0%.

The 10-yr note yield is down one basis point to 4.22% and the 2-yr note yield is down one basis point to 4.59%.