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: Sam who wrote (84362)

12/30/2019 4:51:07 PM

From: Return to Sender

2 Recommendations

Recommended By
oldbeachlvr
Sam

Read Replies (1) | Respond to of 95546

Stocks close lower as 2019 winds down
30-Dec-19 16:10 ET

Dow -183.12 at 28462.05, Nasdaq -60.62 at 8946.02, S&P -18.73 at 3221.29

briefing.com

[BRIEFING.COM] The stock market succumbed to some profit-taking interest on Monday, leaving the S&P 500 down 0.6% for the session. The Dow Jones Industrial Average (-0.6%) and Nasdaq Composite (-0.7%) finished in-line with the benchmark index, while the Russell 2000 (-0.3%) fared slightly better.

Having entered today's session fresh off a series of record highs, including one on Friday, the broader market appeared overdue for some selling activity before the new year. All 11 S&P 500 sectors finished in negative territory with the communication services sector (-1.0%) declining the most.

There was little news of consequence to generate excitement in the market, although it was reported that China's Vice Premier Lie Hue could visit Washington this weekend to sign a Phase One trade deal. U.S. negotiators are still waiting for their agreement to be translated into English, according to Director of Trade and Manufacturing Policy Peter Navarro.

Today's decline also fostered some hedging interest against further downside, made evident by the 10% spike in the CBOE Volatility Index (14.79, +1.36, +10.1%). Interestingly, Apple (AAPL 291.52, +1.72, +0.6%) remained resilient and finished with a solid gain.

In automotive action, shares of Tesla (TSLA 414.70, -15.68, -3.6%) pulled back from record territory amid a cautious outlook from Cowen. Chinese competitor NIO (NIO 3.72, +1.30, +53.7%) rallied 54% following its earnings results.

U.S. Treasuries ended the session mixed, contributing to some curve-steepening activity. The 2-yr yield declined two basis points to 1.56%, while the 10-yr yield increased two basis points to 1.90%. The U.S. Dollar Index declined 0.2% to 96.78. WTI crude declined 0.2%, or $0.10, to $61.64/bbl.

Reviewing Monday's economic data:

Pending Home Sales increased 1.2% in November (Briefing.com consensus +1.0%). Today's reading follows a revised 1.3% decline in October (from -1.7%).
The Advance report for International Trade in Goods for November showed a deficit of $63.2 billion versus $66.8 billion in October. The Advance report for Retail Inventories for November fell 0.7%, and the Advance report for Wholesale Inventories for November was unchanged.

Looking ahead, investors will receive the S&P Case-Shiller Home Price Index for October, the FHFA Housing Price Index for October, and the Conference Board's Consumer Confidence Index for December on Tuesday.

Nasdaq Composite +34.8% YTD
S&P 500 +28.5% YTD
Russell 2000 +23.4% YTD
Dow Jones Industrial Average +22.0% YTD

Market Snapshot

Dow	28462.05	-183.12	(-0.64%)
Nasdaq	8946.02	-60.62	(-0.67%)
SP 500	3221.29	-18.73	(-0.58%)
10-yr Note	-1/32	1.888

NYSE	Adv 1257	Dec 1630	Vol 689.0 mln
Nasdaq	Adv 1319	Dec 1848	Vol 2.0 bln

Industry Watch

Strong: Utilities, Real Estate

Weak: Communication Services, Consumer Discretionary

Moving the Market

-- Stock market succumbed to profit-taking interest in broad-based decline

-- Relative weakness in the communication services sector

-- Apple (AAPL) remained resilient to selling pressure

WTI crude posts modest loss
30-Dec-19 15:25 ET

Dow -150.80 at 28494.37, Nasdaq -52.18 at 8954.46, S&P -16.24 at 3223.78
[BRIEFING.COM] The S&P 500 continues to trade lower by 0.5% amid profit-taking interest. The Russell 2000 is down 0.2%.

One last look inside the S&P 500 shows all 11 sectors trading lower between 0.1% (energy) and 0.9 (communication services). Apple (AAPL 291.78, +1.94, +0.7%) continues to buck the broader trend.

WTI crude gave up an intraday gain and finished lower by $0.10 (-0.2%) to $61.64/bbl.