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

To: booney1 who wrote (84089)	10/17/2019 11:35:16 PM
From: robert b furman	Respond to of 95536

Totally agree. Bob

To: booney1 who wrote (84089)

10/20/2019 11:39:54 AM

From: Return to Sender

2 Recommendations

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oldbeachlvr
Sam

Respond to of 95536

Dow dragged lower by Boeing, Johnson & Johnson; tech stocks slide
18-Oct-19 16:20 ET

Dow -255.68 at 26770.20, Nasdaq -67.31 at 8089.55, S&P -11.75 at 2986.20

briefing.com

[BRIEFING.COM] The stock market closed lower on this options expiration Friday, as investors leaned cautiously following negative corporate headlines and tepid Chinese data. The S&P 500 opened flat, lost as much as 0.7% intraday, and finished lower by 0.4% like the Russell 2000 (-0.4%).

Huge losses in Boeing (BA 344.00, -25.06, -6.8%) and Johnson & Johnson (JNJ 127.70, -8.47, -6.2%) weighed on the Dow Jones Industrial Average (-1.0%), while weakness in technology stocks undercut the Nasdaq Composite (-0.8%).

Boeing was hit by a report from Reuters suggesting that the company may have misled the FAA about the safety of its 737 MAX based on instant messages between two employees in 2016. Johnson & Johnson disappointed investors after trace levels of asbestos found in some samples of baby powder prompted the company to recall 33,000 bottles.

Boeing and Johnson & Johnson also dragged on the S&P 500 industrials (-0.9%) and health care (-0.3%) sectors, although gains in other health care names helped offset JNJ's loss. Broad-based selling in the top-weighted information technology sector (-0.9%) might have been a de-risking trade after China's Q3 GDP (+6.0%) grew at its slowest year-over-year pace in 27+ years.

American Express (AXP 116.76, -2.34, -2.0%) lost ground despite beating earnings estimates, but the financials sector (+0.2%) was undeterred. The defensive-oriented real estate (+1.0%), utilities (+0.4%), and consumer staples (+0.2%) sectors also finished higher, with the latter getting a lift from Coca-Cola (KO 54.78, +0.99, +1.8%) following its in-line results.

Separately, Fed Vice Chair Clarida said monetary policy is not on a preset course and decisions will be made "meeting by meeting." Data from today, and this week, likely boosted expectations for a rate cut at the October FOMC meeting. The probability for a 25-basis points cut rose to 89.3% on Friday versus 67.3% one week ago, according to the CME FedWatch Tool.

U.S. Treasuries ended the session on a higher note. The 2-yr yield declined four basis points to 1.57%, and the 10-yr yield declined one basis point to 1.75%. The U.S. Dollar Index declined 0.4% to 97.27. WTI crude declined 0.2%, or $0.13, to $53.76/bbl.

Friday's economic data was limited to the Conference Board's Leading Economic Index (LEI) for September:

The Conference Board's Leading Economic Index (LEI) declined 0.1% in September (Briefing.com consensus 0.0%) on the heels of a downwardly revised 0.2% decline (from 0.0%) in August.
- The key takeaway from the report is that it fits the narrative of a growth slowdown unfolding in the U.S. economy.

Investors will not receive any notable economic data on Monday but will receive a key report in Existing Home Sales for September on Tuesday.

Nasdaq Composite +21.9% YTD
S&P 500 +19.1% YTD
Dow Jones Industrial Average +14.8% YTD
Russell 2000 +13.9% YTD

Market Snapshot

Dow	26770.20	-255.68	(-0.95%)
Nasdaq	8089.55	-67.31	(-0.83%)
SP 500	2986.20	-11.75	(-0.39%)
10-yr Note	+1/32	1.749

NYSE	Adv 1375	Dec 1454	Vol 864.1 mln
Nasdaq	Adv 1307	Dec 1743	Vol 2.0 bln

Industry Watch

Strong: Real Estate, Utilities, Financials, Consumer Staples

Weak: Information Technology, Industrials, Communication Services