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 (85970)

11/19/2020 4:45:30 PM

From: Return to Sender

3 Recommendations

Recommended By
oldbeachlvr
Sam
Sr K

Read Replies (1) | Respond to of 95420

Major indices close higher in quiet advance

19-Nov-20 16:10 ET

Dow +44.81 at 29483.17, Nasdaq +103.11 at 11904.63, S&P +14.08 at 3581.87

briefing.com

[BRIEFING.COM] The S&P 500 increased 0.4% on Thursday and overcame a sluggish start as buyers quietly eased their way back into the market. The Nasdaq Composite (+0.9%) and Russell 2000 (+0.8%) outperformed while the Dow Jones Industrial Average increased just 0.2%.

For most of the day, the S&P 500 floated around its flat line, while the Nasdaq narrowed the monthly performance gap between it and the benchmark index amid strength in technology stocks. The S&P 500 information technology sector rose 0.8%, but the energy sector (+1.5%) advanced the most as the gains started to broaden out in the afternoon.

The market appeared to get a small bump after Senate Minority Leader Schumer reportedly said Senate Majority Leader McConnell agreed to restart stimulus talks. Not the most surprising news since Mr. McConnell previously said he wanted a smaller deal before year-end, but good news, nonetheless.

The utilities (-1.0%) and health care (-0.1%) sectors, which have underperformed this week, failed to participate in today's advance.

In other positive developments, Phase 2 vaccine trial data from the AstraZeneca (AZN 54.03, +0.04, +0.1%)/Oxford collaboration showed encouraging immune responses in older patients, and October existing home sales increased at a faster-than-expected, seasonally adjusted annual rate of 6.85 million (Briefing.com consensus 6.49 million). Market reactions were muted, but these were good for sentiment reasons.

The Philadelphia Semiconductor Index (+1.6%) was another pocket of strength today. NVIDIA (NVDA 537.61, +0.46, +0.1%) beat top and bottom-line estimates and issued upside Q4 revenue guidance; Cree (CREE 81.00, +8.39, +11.6%) was upgraded to Overweight from Neutral at JP Morgan with a $90 price target.

Longer-dated Treasuries increased again, pushing yields even lower from last week's highs. The 2-yr yield was flat at 0.17%, and the 10-yr yield decreased three basis points to 0.85%. The U.S. Dollar Index decreased 0.1% to 92.27. WTI crude futures decreased 0.1% to $41.75/bbl.

Reviewing Thursday's economic data:

Initial claims for the week ending November 14 rose by 31,000 to 742,000 (Briefing.com consensus 720,000). Continuing claims for the week ending November 7 decreased by 429,000 to 6.372 million.
- The key takeaway from the report is that it covers the period in which the survey for the November employment report is conducted. The jump in initial claims, which are still exceedingly high, will contribute to expectations for a slowdown in job growth in November.
Existing home sales increased 4.3% m/m in October to a seasonally adjusted annual rate of 6.85 million (Briefing.com consensus 6.49 million). October marked the fifth consecutive month of positive sales gains.
- The key takeaway from the report is that it reflects robust demand for existing homes. That is constraining supply even further, which is going to be a pressure point that feeds higher prices, shuts out an increasing number of first-time buyers, and bolsters the prospects for new home sales.
The Conference Board's Leading Economic Index increased 0.7% m/m in October, as expected, marking the sixth straight month of positive readings. The index for September was unrevised at +0.7%.
- The key takeaway from the report is that strength has become more widespread among the leading indicators.
The Philadelphia Fed Index decreased to 26.3 in November (Briefing.com consensus 25.0) from 32.3 in October.

Investors will not receive any notable economic data on Friday.

Nasdaq Composite +32.7% YTD
S&P 500 +10.9% YTD
Russell 2000 +6.9% YTD
Dow Jones Industrial Average +3.3% YTD

Market Snapshot

Dow	29483.17	+44.81	(0.15%)
Nasdaq	11904.63	+103.11	(0.87%)
SP 500	3581.87	+14.08	(0.39%)
10-yr Note	+2/32	0.848

NYSE	Adv 1940	Dec 1080	Vol 884.5 mln
Nasdaq	Adv 2243	Dec 1205	Vol 5.2 bln

Industry Watch

Strong: Information Technology, Energy

Weak: Utilities, Health Care

Moving the Market

-- Quiet advance for the major indices, energy and tech stocks outperformed

-- Stimulus talks reportedly resumed

-- Encouraging vaccine news, housing data, earnings reports

WTI crude futures settle little changed
19-Nov-20 15:25 ET

Dow +5.03 at 29443.39, Nasdaq +91.16 at 11892.68, S&P +10.15 at 3578.08
[BRIEFING.COM] The S&P 500 continues to trade higher by 0.3%, and the Russell 2000 is up 0.4%.

One last look at the S&P 500 sectors shows energy (+1.2%), information technology (+0.7%), and consumer discretionary (+0.4%) leading the advance, while the utilities (-1.1%) and health care (-0.2%) sectors sit this one out.

WTI crude futures settled lower by 0.1%, or $0.05, to $41.75/bbl.

To: Return to Sender who wrote (85970)

11/20/2020 9:32:43 PM

From: Return to Sender

4 Recommendations

Recommended By
oldbeachlvr
Sam
Sr K
The Ox

Read Replies (1) | Respond to of 95420

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

New Highs:

Mon	Tues	Wed	Thur	Fri
ASML	ASML	AMAT	AMAT	AMAT
BIDU	CMCSA	CMCSA	TSLA	ASML
CMCSA	KLAC	KLAC	VRSK	KLAC
CTAS	MU	PEP		LRCX
CTSH	QCOM	QCOM		MCHP
KLAC	SBUX	SBUX		MU
LRCX	TMUS			NXPI
MRNA
MU
PEP
SBUX
TMUS