Market at lunch
Dow 52137.33 +466.30 (0.90%)
Nasdaq 26585.24 -119.69 (-0.45%)
SP 500 7544.73 -9.56 (-0.13%)
10-yr Note
NYSE Adv 1483 Dec 1124 Vol 266.75 mln
Nasdaq Adv 1780 Dec 2437 Vol 6.06 bln
Industry Watch
Strong: Industrials, Materials, Financials, Utilities, Real Estate
Weak: Information Technology, Energy
Moving the Market
–Tech stocks take a breather after yesterday’s rally, semiconductor names moving lwoer
–Crude oil contiues to move lower, prompting some gains in the broader market
–SpaceX trades sharply higher again on its third trading day
Carvana trades higher as it enters the new vehicle market
Carvana (CVNA 69.92, +1.02, +1.47%) holds a nice gain, adding to yesterday’s 7.5% rally. CNBC reports that the company is entering the new-vehicle market by purchasing seven new-vehicle franchises over the past year, a move that will give it greater exposure to the entire life cycle of a vehicle.
The top-weighted information technology sector (-1.5%) holds the widest loss, weighed down by its semiconductor components such as Lumentum (LITE 876.00, -81.24, -8.49%), Coherent (COHR 388.15, -25.69, -6.21%), and Intel (INTC 119.69, -8.17, -6.39%) after sharp gains in yesterday’s session.
Energy sector (-0.5%) also retreats as crude oil moves back below the $80 per barrel mark amid optimism around the U.S.-Iran peace deal set to be signed on Friday.
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