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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Sam who wrote (83291)	5/16/2019 5:18:37 PM
From: Return to Sender	1 Recommendation Recommended By Sam Respond to of 95633

Stocks advance for third straight day, pushing S&P 500 back above key technical level 16-May-19 16:20 ET Dow +214.66 at 25862.68, Nasdaq +75.90 at 7898.02, S&P +25.36 at 2876.32 briefing.com [BRIEFING.COM] U.S. stocks advanced for the third straight session on Thursday, boosted by positive earnings reports from Cisco Systems (CSCO 55.93, +3.49, +6.7%) and Wal-Mart (WMT 101.31, +1.43, +1.4%). The 0.9% gain in the S&P 500 helped the benchmark index reclaim its 50-day moving average (2866) on a closing basis. The Dow Jones Industrial Average increased 0.8%, the Nasdaq Composite increased 1.0%, and the Russell 2000 increased 0.6%. One can attribute Thursday's broad-based rally to several factors: (1) the earnings beats from Dow components Cisco and Wal-Mart, (2) a steady U.S. economy that was reflected in a pick-up in April housing starts, and (3) reduced trade anxiety despite an executive order signed by President Trump that was viewed as an attempt to stifle China's Huawei Technologies. Early efforts to buy risk assets presumably prompted some short-covering activity that also gave stocks an added boost out of the gate. All 11 S&P 500 sectors finished higher with gains ranging from 0.4% (energy) to 1.3% (materials). Boeing (BA 353.81, +8.17, +2.4%) was a notable standout. Shares received a late-session boost after the company said it has "flown the 737 MAX with updated MCAS software for more than 360 hours on 207 flights." Many stocks within the Philadelphia Semiconductor Index (-1.7%), however, did not participate in today's advance. The semiconductor space was pressured by President Trump signing an executive order on Wednesday to protect U.S. technology from "foreign adversaries" that pose a threat to national security. Many viewed the order as an attempt to restrict Huawei from conducting business with U.S. companies, which include Qualcomm (QCOM 82.81, -3.45, -4.0%) and Lumentum (LITE 50.20, -6.55, -11.5%) among other semiconductor companies. U.S. Treasuries retreated on Thursday, driving yields higher, as investors embraced a risk-on mindset. The 2-yr yield increased four basis points to 2.20%, and the 10-yr yield increased three basis points to 2.41%. The U.S. Dollar Index increased 0.3% to 97.82. WTI crude rose 1.5% to $62.99/bbl. Reviewing Thursday's economic data, which included Housing Starts and Building Permits for April, the weekly Initial and Continuing Claims report, and the Philadelphia Fed Index for May: Housing starts increased 5.7% m/m in April to a seasonally adjusted annual rate of 1.235 million (Briefing.com consensus 1.200 mln), led by a 6.2% increase in single-unit starts. Building permits rose 0.6% m/m to 1.296 million (Briefing.com consensus 1.280 mln), although permits for single-unit dwellings declined 4.2%. The key takeaway from the report, however, is that there hasn't been any acceleration in building activity. Total housing starts are down 2.5% yr/yr and single-unit starts are down 4.3% yr/yr. Initial claims for the week ending May 11 decreased by 16,000 to 212,000 (Briefing.com consensus 222,000). Continuing claims for the week ending May 4 decreased by 28,000 to 1.66 million. The key takeaway from the report is that the initial claims level remains consistent with a tight labor market that is expected to translate into another month of solid nonfarm payrolls growth. The Philadelphia Fed Index for May jumped to 16.6 (Briefing.com consensus 7.5) from 8.5 in April. The dividing line between expansion and contraction is 0.0. The key takeaway from the report is that firms were more optimistic about hiring plans over the next six months, which suggests they expect end demand to remain solid. Looking ahead, investors will receive the preliminary University of Michigan Index of Consumer Sentiment for May and the Conference Board's Leading Economic Index for April on Friday. Nasdaq Composite +19.0% YTD Russell 2000 +15.5% YTD S&P 500 +14.7% YTD Dow Jones Industrial Average +10.9% YTD