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

To: Sam who wrote (84185)

11/12/2019 4:51:12 PM

From: Return to Sender

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S&P 500, Nasdaq extend record run
12-Nov-19 16:20 ET

Nasdaq +21.81 at 8486.09, S&P +4.83 at 3091.84

briefing.com

[BRIEFING.COM] The S&P 500 clipped the 3100 level for the first time on Tuesday, but the record run lost some steam to leave the benchmark index up just 0.2% and below 3100 on a closing basis. The Nasdaq Composite (+0.3%) closed at a record high, while the Dow Jones Industrial Average (unch) and Russell 2000 (unch) finished unchanged.

The session began with all 11 S&P 500 sectors gaining traction in a momentum trade ahead of President Trump's lunchtime speech at the Economic Club of New York. Among many things, the president said tariffs on Chinese imports will go up "substantially" if a trade deal doesn't get done, but nothing President Trump said caught the market off guard.

This lack of positive catalysts from the president likely curbed some enthusiasm among investors hoping for more substance in the speech. Buying enthusiasm really started to fade, though, before the speech when the S&P 500 ran into some resistance at the 3100 level.

It was still a generally positive day for the stock market, which has been resilient to any pullback effort this month. Relative strength was found in the S&P 500 health care (+0.6%) and materials (+0.4%) sectors, while relative weakness rested in the real estate (-0.8%) and energy (-0.6%) sectors.

The market also received support from the earnings-driven gains in Rockwell Automation (ROK 198.01, +18.81, +10.5%), DXC Technology (DXC 35.25, +5.85, +19.9%), and Tyson Foods (TSN 88.88, +6.15, +7.4%), as well as the healthy gains from Facebook (FB 194.47, +4.86, +2.6%) and Walt Disney (DIS 138.58, +1.84, +1.4%).

Facebook introduced "Facebook Pay," a feature that will allow users to send payments across its platforms. Disney officially launched its streaming service, which experienced some technical difficulties due to higher-than-expected consumer demand.

The Treasury market reopened for trading after being closed for Veterans Day yesterday. An uptick in demand pushed the 2-yr yield down one basis point to 1.65% and the 10-yr yield down two basis points to 1.91%. The U.S. Dollar Index increased 0.2% to 98.34. WTI crude was unchanged at $56.85/bbl.

Tuesday's economic data was limited to the Small Business Optimism Index for October, which improved to 102.4 from 101.8 in September. On Wednesday, investors will receive the Consumer Price Index for October, the Treasury Budget for October, and the weekly MBA Mortgage Applications Index.

Nasdaq Composite +27.9% YTD
S&P 500 +23.3% YTD
Dow Jones Industrial Average +18.7% YTD
Russell 2000 +18.3% YTD

Market Snapshot

Dow	27691.40		(%)
Nasdaq	8486.09	+21.81	(0.26%)
SP 500	3091.84	+4.83	(0.16%)
10-yr Note	+2/32	1.918

NYSE	Adv 1364	Dec 1475	Vol 790.6 mln
Nasdaq	Adv 1542	Dec 1524	Vol 2.0 bln

Industry Watch

Strong: Health Care, Materials

Weak: Energy, Real Estate

Moving the Market

-- S&P 500, Nasdaq extend record run with modest gains

-- President Trump's speech on trade and economic policy provided no new information for the market

-- S&P 500 ran into some resistance at the 3100 level

WTI crude settles unchanged
12-Nov-19 15:25 ET

Dow -23.17 at 27668.36, Nasdaq +9.77 at 8474.05, S&P +1.43 at 3088.44
[BRIEFING.COM] The S&P 500 is wavering around its flat line right now with a fractional gain. The Russell 2000 is trading unchanged.

One last look at the S&P 500 sectors shows most sectors trading within 0.2% of their flat lines. The health care sector (+0.5%) is outperforming the market, while the energy sector (-0.9%) underperforms to give back some of its monthly gains.

WTI crude futures settled the day unchanged at $56.85/bbl.