Reply To: Traders Market Weekly: Consumers Along for The Ride

#74271
Truman
Participant

Morning Market

Dow 38919.18 +66.91 (0.17%)
Nasdaq 16331.59 -17.66 (-0.11%)
SP 500 5185.25 +4.51 (0.09%)
10-yr Note +3/32 4.452
NYSE Adv 1887 Dec 743 Vol 105 mln
Nasdaq Adv 2212 Dec 1650 Vol 1.0 bln

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

Moving the Market
— Mixed responses to earnings news since yesterday’s close
— Losses in some mega cap names weighing on the broader market
— Lower Treasury yields acting as support for equities

Losses in some mega cap names have limited upside moves for the major indices, but market breadth reflects an underlying positive bias driving today’s action. Advancers lead decliners by a nearly 3-to-1 margin at the NYSE and by a 3-to-2 margin at the Nasdaq.

NVIDIA (NVDA 897.47, -23.50, -2.7%), Meta Platforms (META 462.74, -3.14, -0.7%), Tesla (TSLA 179.02, -5.86, -3.2%), Microsoft (MSFT 412.44, -1.10, -0.3%), and Broadcom (AVGO 1305.94, -4.37, -0.3%) are among the influential losers so far.

Market rates are slightly lower, acting as support for equities.

The 2-yr note yield is down one basis point to 4.81% and the 10-yr note yield is down five basis points to 4.44%.