Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Return to Sender who wrote (83385)	5/30/2019 4:41:38 PM
From: Return to Sender	1 Recommendation Recommended By Sam Respond to of 95567

Stocks edge higher, Treasury yields tick lower 30-May-19 16:20 ET Dow +43.47 at 25169.88, Nasdaq +20.41 at 7567.69, S&P +5.84 at 2788.86 briefing.com [BRIEFING.COM] The S&P 500 advanced as much as 0.6% on Thursday, nearly touching the 2800 level in a rebound from short-term oversold conditions. A lack of conviction, however, knocked the benchmark index off its strong start and contributed to some sideways trading for the rest of the session. The S&P 500 finished higher by 0.2% after finding some support at its 200-day moving average (2776). The Dow Jones Industrial Average increased 0.2%, and the Nasdaq Composite increased 0.3%. The Russell 2000 decreased 0.3%. The S&P 500 real estate (+0.7%), information technology (+0.6%), health care (+0.5%), and consumer discretionary (+0.5%) sectors outperformed the broader market. The Philadelphia Semiconductor Index (+0.7%) advanced for the second straight day. Shares of Dollar General (DG 127.00, +8.49, +7.2%) and Dollar Tree (DLTR 98.31, +2.99, +3.1%) gave the consumer discretionary sector a boost following their earnings results/guidance. PVH Corp. (PVH 84.49, -14.76, -14.9%), however, offset some of their strength after it disappointed investors with its lower guidance. The S&P 500 energy sector (-1.2%) was the worst-performing group on Thursday, as oil prices ($56.40/bbl, -$2.44, -4.1%) tumbled on global growth concerns. More negative trade rhetoric out of China, coupled with reports that Beijing put U.S. soybean purchases on hold, fed into the narrative that trade tensions will slow economic growth. The resiliency in the U.S. Treasury market perhaps signaled this view, as well, as investors returned to the safe-haven asset during the day. The 2-yr yield and the 10-yr yield were both up five basis points in overnight action, as Treasuries cooled off from their lengthy advance. Buying interest, however, picked up during the session, leaving the 2-yr yield down two basis points to 2.06% and the 10-yr yield down one basis point to 2.23%. The U.S. Dollar Index finished unchanged at 98.15. Reviewing Thursday's economic data, which included the second estimate for Q1 GDP, the weekly Initial and Continuing claims report, the advance advance international trade in goods deficit for April, and Pending Home Sales for April: The second estimate for Q1 GDP showed a slight downward revision to 3.1% (Briefing.com consensus 3.1%). The GDP Price Deflator was revised to 0.8% (Briefing.com consensus 0.9%) from 0.9%. The key takeaway from the report is that it is backward looking (we're nearly two months into the second quarter), which diminishes its market-moving impact. Still, it reinforces the notion that first quarter growth was better than most thought it would be before the quarter started. Initial claims for the week ending May 25 increased by 3,000 to 215,000 (Briefing.com consensus 217,000) while continuing claims for the week ending May 18 decreased by 26,000 to 1.657 million. The key takeaway from the report is that the initial claims data remains consistent with tight labor market conditions. The advance international trade in goods deficit for April widened to $72.1 billion (Briefing.com consensus -$72.0 billion) from $71.9 billion in March. Exports were $5.9 billion less than March exports while imports were $5.6 billion less than March imports. Pending Home Sales decreased 1.5% in April (Briefing.com consensus +1.0%). Today's reading follows a revised increase of 3.9% in March (from 3.8%). Looking ahead, investors will receive Personal Income and Spending data for April, the PCE Price Index for April, and the final University of Michigan Index of Consumer Sentiment for May on Friday. Nasdaq Composite +14.1% YTD S&P 500 +11.3% YTD Russell 2000 +10.2% YTD Dow Jones Industrial Average +7.9% YTD