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

To: Return to Sender who wrote (83404)	6/4/2019 7:40:20 PM
From: Return to Sender	2 Recommendations Recommended By FJB Winfastorlose Read Replies (1) \| Respond to of 95541

Stocks rebound from short-term oversold condition, helped by Fed comments 04-Jun-19 16:25 ET Dow +512.40 at 25332.18, Nasdaq +194.10 at 7527.09, S&P +58.82 at 2803.27 briefing.com [BRIEFING.COM] The stock market had its best day since early January, boosted by gains across most sectors and by the prevailing view that the market was due for a bounce from short-term oversold conditions. Each of the major averages rose at least 2.0%, led by the 2.7% gain in the Nasdaq Composite, and the S&P 500 (+2.1%) climbed back above its 200-day moving average (2775). Tuesday's advance was rooted in yesterday's ability in the broader market to withstand heavy losses from Apple (AAPL 179.64, +6.34, +3.7%), Amazon (AMZN 1729.56, +36.87, +2.2%), Alphabet (GOOG 1053.05, +16.82, +1.6%), and Facebook (FB 167.50, +3.35, +2.0%), which all fell on antitrust concerns. The turnaround in these mega-cap stocks ensured there was little to impede the rebound effort, especially when given the seemingly supportive comments from the Fed. Fed Chair Powell and Chicago Fed President Evans, both of whom are FOMC voters, acknowledged the trade uncertainty and the persistently low inflation levels. Although no rate cut was promised, Mr. Powell said that the Fed will act appropriately to sustain the economic expansion, assuring the market that the Fed is still on its side. Cyclical sectors led the rally with the S&P 500 information technology (+3.3%), materials (+2.8%), financials (+2.7%), consumer discretionary (+2.6%), and industrials (+2.4%) sectors all finishing with gains over 2.0%. The defensive-oriented utilities (unch) and real estate (-0.6%) sectors were left out of the rally. Favorable trade headlines were pointed as having an early effect on the market. China said it wants dialogue and mutual respect in talks with the U.S. while speculation arose that President Trump's Mexico tariffs could be blocked by Congress. However, China's comments were largely in-line with prior rhetoric, and The Hill reported that President Trump is weighing a national emergency to implement new tariffs on Mexico. Counter to the view that the stock market was oversold on a short-term basis, the Treasury market exhibited weakness on the view that it had gotten overbought on a short-term basis. The 2-yr yield increased five basis points to 1.88%, and the 10-yr yield increased four basis points to 2.12%. The U.S. Dollar Index declined 0.1% to 97.10. WTI crude increased 0.5% to $53.53/bbl. Separately, Uber (UBER 42.75, +1.50, +3.6%) was rated positively by a host of firms on Tuesday. According to data from Briefing.com, 16 firms initiated the stock with the equivalent of a Buy rating. Reviewing Friday's lone economic report, Factory Orders for April: Factory orders declined 0.8% m/m in April (Briefing.com consensus -0.9%) following a downwardly revised 1.3% increase (from 1.9%) in March. Excluding transportation, orders increased 0.3%. The key takeaway from the report is the understanding that business investment was weak in April, evidenced by the 1.0% m/m decline in nondefense capital goods orders excluding aircraft. Looking ahead, investors will receive the ADP Employment Change report for May, the ISM Non-Manufacturing Index for May, the Fed's Beige Book for June, and the weekly MBA Mortgage Applications Index for May on Wednesday. Nasdaq Composite +13.4% YTD S&P 500 +11.8% YTD Russell 2000 +11.9% YTD Dow Jones Industrial Average +8.6% YTD