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To: Return to Sender who wrote (85421)

8/4/2020 4:28:08 PM

From: Return to Sender

3 Recommendations

Recommended By
Sam
Sr K
The Ox

Respond to of 95478

Stocks rise concurrently with longer-dated Treasuries
04-Aug-20 16:20 ET

Dow +164.07 at 26828.47, Nasdaq +38.37 at 10941.24, S&P +11.90 at 3306.51

briefing.com

[BRIEFING.COM] The S&P 500 gained 0.4% on Tuesday to close at session highs in a tight-ranged session, even as negotiations surrounding the next coronavirus relief bill remained deadlocked. The Nasdaq Composite (+0.4%) kept pace with the benchmark index to close at a record high, while the Dow Jones Industrial Average (+0.6%) and Russell 2000 (+0.7%) outperformed.

According to media reports, Treasury Secretary Mnuchin said negotiators are no closer to a deal than a week ago while Senator Perdue (R-GA) estimated that stimulus talks could last an additional two weeks. While discouraging, the broad market was not deterred by the news, as nine of the 11 S&P 500 sectors closed higher.

The energy sector rose 2.5% amid higher oil prices ($41.68/bbl, +0.66, +1.6%), followed by gains in the real estate (+1.4%), utilities (+1.4%), and materials (+1.3%) sectors. The health care (-0.5%) and financials (-0.4%) sectors were the lone holdouts.

Financial stocks were pressured by some curve-flattening activity in the Treasury market, which reflected some growth-related angst given that lawmakers remained divided over stimulus talks. The 2-yr yield increased one basis point to 0.12%, while the 10-yr yield fell five basis points to 0.52%.

Within the tech space, Microsoft (MSFT 213.29, -3.25, -1.5%) cooled off from yesterday's TikTok-driven rally, while Advanced Micro Devices (AMD 85.04, +7.37) surged 9.5% to fresh record highs. AMD shot higher after Jefferies raised its price target on the stock to $95 from $86 on a view that it will capitalize on Intel's (INTC 49.13, +0.83, +1.7%) production issues.

Gold futures ($2020.80/ozt, +$33.80, +1.7%) also rallied to new highs above $2000/ozt. The U.S. Dollar Index declined 0.1% to 93.27 after trading higher in the morning.

Tuesday's economic data was limited to the Factory Orders report for June, which increased 6.2% m/m (Briefing.com consensus 5.2%) following a downwardly revised 7.7% increase (from 8.0%) in May.

The key takeaway from the report is the affirmation that business spending picked up in June as economies reopened, evidenced by a 3.4% increase in new orders for nondefense capital goods excluding aircraft that was up slightly from the 3.3% increase noted in the Advance Durable Goods Orders report.

Looking ahead, investors will receive the ADP Employment Change Report for July, the Trade Balance report for June, and the weekly MBA Mortgage Applications Index on Wednesday.

Nasdaq Composite +21.9% YTD
S&P 500 +2.3% YTD
Dow Jones Industrial Average -6.0% YTD
Russell 2000 -9.1% YTD

Market Snapshot

Dow	26828.47	+164.07	(0.62%)
Nasdaq	10941.24	+38.37	(0.35%)
SP 500	3306.51	+11.90	(0.36%)
10-yr Note	+27/32	0.504

NYSE	Adv 1902	Dec 1057	Vol 863.3 mln
Nasdaq	Adv 1938	Dec 1288	Vol 3.9 bln

Industry Watch

Strong: Energy, Utilities, Real Estate, Consumer Discretionary

Weak: Health Care, Financials, Information Technology

Moving the Market

-- Stocks trade mixed, while Treasury market strengthens

-- Little progress on coronavirus relief bill negotiations, according to reports

Energy stocks follow oil prices higher
04-Aug-20 15:25 ET

Dow +110.91 at 26775.31, Nasdaq +1.19 at 10904.06, S&P +4.61 at 3299.22
[BRIEFING.COM] The S&P 500 is up 0.1%, while the Russell 2000 outperforms with a 0.5% gain.

One last look at the S&P 500 sectors shows energy (+2.4%), materials (+1.7%), utilities (+1.7%), and real estate (+1.3%) in the leadership positions, while the financials (-0.6%), health care (-0.7%), and information technology (-0.2%) sectors still trade lower.

WTI crude futures settled higher by 1.6% (+$0.66) to $41.68/bbl.

To: Return to Sender who wrote (85421)

8/5/2020 4:03:03 PM

From: Return to Sender

1 Recommendation

Recommended By
oldbeachlvr

Read Replies (1) | Respond to of 95478

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

New Highs:

Mon	Tues	Wed
AAPL	AMD	AMD
ANSS	ATVI	ANSS
ATVI	AVGO	AVGO
CDNS	CHTR	CHTR
DOCU	COST	COST
DXCM	DOCU	DOCU
EA	EA	DXCM
FAST	NVDA	FAST
LRCX	SPLK	ILMN
MELI	TTWO	LULU
MNST		MELI
MSFT		MNST
NVDA		NVDA
PYPL		PYPL
QCOM		SPLK
SPLK
SWKS
TTWO
VRSK