Reply To: Traders Market Weekly: Fear and Greed in Las Vegas.

#73930
Truman
Participant

Morning:
Dow 38092.72 +106.32 (0.28%)
Nasdaq 15389.57 +107.56 (0.70%)
SP 500 4993.18 +25.95 (0.52%)
10-yr Note -23/32 4.643
NYSE Adv 1822 Dec 819 Vol 101 mln
Nasdaq Adv 2436 Dec 1494 Vol 968 mln

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

Moving the Market
— Buy-the-dip action following recent losses
— Outperformance of mega cap and semiconductor stocks
— Wait-and-see in front of busy week of earnings that includes reports from Tesla (TSLA), Alphabet (GOOG), Microsoft (MSFT), and Meta Platforms (META)

Gains in mega cap stocks and semiconductor shares are disproportionately influencing index gains. The Vanguard Mega Cap Growth ETF (MGK) is up 0.9% and the PHLX Semiconductor Index (SOX) is up 1.3%.

Many stocks are participating in upside moves, though. The Invesco S&P 500 Equal Weight ETF (RSP) is up 0.4% and only three of the 11 S&P 500 sectors trade lower. The heavily-weighted information technology sector leads the outperforming sectors, trading up 1.0%.

The 10-yr note yield is up two basis points to 4.64% and the 2-yr note yield is at 4.97% after hitting 5.00% earlier.