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

To: Return to Sender who wrote (83889)	9/1/2019 11:55:39 PM
From: Return to Sender	3 Recommendations Recommended By FJB oldbeachlvr Sam Respond to of 95520

Stocks close little changed, end week higher 30-Aug-19 16:15 ET Dow +41.03 at 26403.26, Nasdaq -10.51 at 7962.91, S&P +1.88 at 2926.46 briefing.com [BRIEFING.COM] The stock market finished little changed on Friday in a lackluster session before the holiday weekend. The S&P 500 (+0.1%) and Dow Jones Industrial Average (+0.2%) finished just above their flat lines, while the Nasdaq Composite (-0.1%) and Russell 2000 (-0.1%) finished slightly lower. Stocks opened the session near their best levels of the day, supported by a reprieve in trade tensions and month-end rebalancing that tends to favor risk assets after four straight weekly declines -- that losing streak was snapped today. The early advance brought the S&P 500 within five points of its 50-day moving average (2945), but the market quickly retreated and wavered between small gains and losses for the rest of the session. The market struggled to find direction amid missing leadership from some of its biggest technology names within the S&P 500 consumer discretionary (-0.6%), communication services (-0.1%), and information technology (unch) sectors. The materials (+0.7%), industrials (+0.4%), and financials (+0.4%) sectors did provide some support for the broader market. Some negative considerations for the market included a stronger U.S. dollar that could pose a headwind for the earnings prospects of U.S. multinational companies; weaker oil prices ($55.06/bbl, -$1.61, -2.8%) that pressured oil-sensitive stocks; and a downward revision to consumer sentiment for August, reflecting a possible threat to discretionary spending amid the ongoing trade dispute. In earnings news, shares of Ulta Beauty (ULTA 237.73, -99.72, -29.6%) tanked 30% after the company missed revenue estimates and lowered its full-year guidance. Workday (WDAY 177.28, -10.37, -5.5%) led the cloud software stocks lower despite positive results and upbeat guidance. Notable standouts included Dell (DELL 51.53, +4.76, +10.2%) and Campbell Soup (CPB 45.00, +1.69, +3.9%) after both beat earnings expectations. U.S. Treasuries finished slightly higher in a muted session. The 2-yr yield declined two basis points to 1.50%, and the 10-yr yield declined one basis point to 1.51%. The U.S. Dollar Index advanced 0.3% to 98.81. Reviewing Friday's economic data, which included Personal Income and Spending for July, the PCE Price Index for July, the final University of Michigan Index of Consumer Sentiment for August, and the Chicago PMI for August: Personal income increased 0.1% m/m in July (Briefing.com consensus +0.4%), which was weaker than expected thanks to a 1.8% decline in personal interest income, but personal spending increased a stronger-than-expected 0.6% (Briefing.com consensus +0.5%). The PCE Price Index and core PCE Price Index, which excludes food and energy, were both up 0.2%, which was also expected. The key takeaway from the report is that consumer spending is solid and inflation is stable, albeit at below-target levels. All in all, there isn't a lot of ammunition in the report for the Fed to fire off a 50-basis points rate cut at its September meeting. The final reading for the University of Michigan's Index of Consumer Sentiment for August was revised down to 89.8 (Briefing.com consensus 92.4) from the preliminary reading of 92.1. The final reading for July was 98.4. The difference in final readings between July and June was the largest point drop since December 2012. The key takeaway from the report is the understanding that tariff issues are weighing more heavily on consumer sentiment, which threatens to temper discretionary spending activity in the months ahead. The Chicago PMI increased to 50.4 in August (Briefing.com consensus 48.2) from 44.4 in July. As a reminder, the market will be closed on Monday for Labor Day. Investors will receive the ISM Manufacturing Index for August and Construction Spending for July on Tuesday. Nasdaq Composite +20.0% YTD S&P 500 +16.7% YTD Dow Jones Industrial Average +13.2% YTD Russell 2000 +10.9% YTD