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: Return to Sender who wrote (85170)

6/4/2020 5:10:33 PM

From: Return to Sender

1 Recommendation

Recommended By
The Ox

Read Replies (1) | Respond to of 95776

S&P 500 snaps winning streak, but Dow closes higher

04-Jun-20 16:20 ET

Dow +11.93 at 26281.82, Nasdaq -67.10 at 9615.84, S&P -10.52 at 3112.22

briefing.com

[BRIEFING.COM] The S&P 500 declined 0.3% on Thursday in a mixed session to snap a four-session winning streak. The Dow Jones Industrial Average eked out a 0.1% gain, the Nasdaq Composite declined 0.7%, and the Russell 2000 closed flat.

Early in the session, the S&P 500 overcame a negative start, but failed to break above the 3130 level, which was yesterday's high and the high from March 4. The Nasdaq 100 (-0.8%) even set a new all-time high before retracing gains alongside the broader market. Technical factors, then, appeared to have a role in calming this market down.

The information technology (-0.8%) and health care (-0.8%) sectors were influential laggards, but the rate-sensitive real estate (-1.8%) and utilities (-2.0%) sectors declined the most amid an increase in longer-dated Treasury yields. The 10-yr yield rose six basis points to 0.82%, while the 2-yr yield was flat at 0.19%.

There were pockets of relative strength, though, specifically in the S&P 500 financials (+2.0%) and industrials (+1.1%) sectors, the Philadelphia Semiconductor Index (+0.8%), and in many of the travel-related industries. The battered travel stocks exhibited huge gains today.

The latter were boosted by American Airlines (AAL 16.74, +4.89, +41.3%) announcing plans to increase its domestic flying schedule for the summer travel season due to improving demand. AAL shares surged 41% while Boeing (BA 184.30, +11.14, +6.4%) shares rose 6%.

In other developments, weekly initial claims remained elevated at 1.877 million (Briefing.com consensus 1.800 million), continuing claims increased by 649,000 to 21.487 million, and the ECB increased its pandemic emergency purchase program by EUR600 billion to a total of EUR1.350 trillion. The ECB extended this program until at least the end of June 2021.

The aggressive stimulus from the ECB fueled optimism about a recovery in Europe, which could be on the verge of a stronger fiscal union. The euro continued to rise against the dollar, contributing to another 0.5% decline in the U.S. Dollar Index (96.82).

Reviewing Thursday's economic data:

Initial claims for the week ending May 30 decreased by 249,000 to 1.877 million (Briefing.com consensus 1.800 million). Continuing claims for the week ending May 23 increased by 649,000 to 21.487 million.
- The key takeaway from the report is twofold: (1) initial claims are still extremely high and (2) continuing claims didn't continue to improve, denoting some slowness in rehiring activity.
A revision reported by the BLS indicated nonfarm business sector labor productivity decreased 0.9% (Briefing.com consensus -2.6%) in the first quarter versus an originally reported decrease of 2.5%. Unit labor costs, meanwhile, increased 5.1% versus an originally reported 4.8% increase.
- The key takeaway from the report is that productivity was better than expected in the first quarter, but it was still weak all the same.
The U.S. trade deficit widened to $49.4 billion in April (Briefing.com consensus -$49.8 billion) from an upwardly revised $42.3 billion (from -$44.4 billion) in March.
- The key takeaway from the report is that it was accented by a sizable decline in both exports and imports, which was a byproduct of reduced demand due to shutdown measures implemented around the globe to help contain the spread of COVID-19.

Looking ahead, investors will receive the Employment Situation Report for May and Consumer Credit for April on Friday.

Nasdaq Composite +7.2% YTD
S&P 500 -3.7% YTD
Dow Jones Industrial Average -7.9% YTD
Russell 2000 -13.0% YTD

Market Snapshot

Dow	26281.82	+11.93	(0.05%)
Nasdaq	9615.84	-67.10	(-0.69%)
SP 500	3112.22	-10.52	(-0.34%)
10-yr Note	-7/32	0.821

NYSE	Adv 1610	Dec 1296	Vol 1.2 bln
Nasdaq	Adv 1689	Dec 1589	Vol 6.0 bln

Industry Watch

Strong: Financials, Industrials, Materials

Weak: Utilities, Real Estate, Health Care, Information Technology

Moving the Market

-- Stocks close mixed, S&P 500 snaps four-session winning streak while Dow closes higher

-- Travel-related stocks boosted by positive update from American Airlines (AAL)

-- Weekly initial claims decreased by 323,000 to 2.123 million (Briefing.com consensus 1.950 million), while continuing claims increased 21.487 million

-- ECB increased its pandemic emergency purchase program by EUR600 billion to a total of EUR1.350 trillion

WTI crude ekes out gain
04-Jun-20 15:30 ET

Dow -116.10 at 26153.79, Nasdaq -95.91 at 9587.03, S&P -23.86 at 3098.88
[BRIEFING.COM] The S&P 500 is trading lower by 0.8% and is on pace to close lower for the first time in five sessions.

One last look at the S&P 500 sectors shows utilities (-3.0%) and real estate (-2.4%) continuing to feel the burden of the increase in longer-dated Treasuries, while the financials (+1.3%) and industrials (+0.6%) sectors continue to sport solid gains.

WTI crude futures settled today's session higher by $0.14 (+0.4%) to $37.42/bbl.

To: Return to Sender who wrote (85170)

6/6/2020 11:55:51 PM

From: Return to Sender

3 Recommendations

Recommended By
oldbeachlvr
Sr K
The Ox

Read Replies (2) | Respond to of 95776

15 New 52 Week Highs on the NDX and No New 52 Week Lows:

Mon	Tues	Wed	Thur	Fri
ADSK	ADSK	ADSK	ADBE	AAPL
CDNS	CDNS	ASML	ASML	ADBE
CHTR	CHTR	BMRN	BMRN	ADI
EA	EA	CDNS	EBAY	ADSK
EBAY	EBAY	EBAY	FAST	ASML
IDXX	IDXX	FAST	IDXX	AVGO
LULU	LULU	IDXX	KLAC	FAST
MNST	MNST	JD	MELI	JD
PYPL	PYPL	KLAC	PYPL	KHC
SNPS	SNPS	LULU	SWKS	KLAC
VRSK	VRSK	MELI		MCHP
ZM	ZM	NTES		NTES
		PYPL		SWKS
		SNPS		TMUS
		SWKS		TXN
		VRSK
		ZM