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

To: Return to Sender who wrote (86021)

11/30/2020 4:34:08 PM

From: Return to Sender

3 Recommendations

Recommended By
oldbeachlvr
Sam
Sr K

Read Replies (1) | Respond to of 95427

Soft ending to an incredibly strong month
30-Nov-20 16:15 ET

Dow -271.73 at 29638.58, Nasdaq -7.11 at 12198.65, S&P -16.72 at 3621.65

briefing.com

[BRIEFING.COM] The S&P 500 declined 0.5% on Monday to end a spectacular month on a soft note. An intraday recovery in technology stocks, however, helped lift the benchmark index and Nasdaq Composite (-0.1%) off session lows. The Dow Jones Industrial Average (-0.9%) and Russell 2000 (-1.9%) underperformed.

The market struggled despite Moderna (MRNA 152.74, +25.71, +20.2%) providing another encouraging vaccine update and Apple (AAPL 119.05, +2.46, +2.1%) receiving an analyst upgrade to Buy from Hold at Loop Capital. The information technology (+0.7%) and health care (+0.3%) sector did benefit, but nine of the 11 S&P 500 sectors closed lower.

The energy sector dropped 5.4%, largely due to profit-taking interest and some angst that OPEC+ might not agree to extend production cuts for three months starting Jan. 1. Interestingly, oil prices ($45.37, -0.08, -0.2%) were less affected by these concerns.

As for the vaccine news, Moderna said its vaccine was 94.1% effective in preventing COVID-19 and 100% effective in protecting against serious outcomes. The company said it would apply with the FDA today for emergency use authorization.

Note, today was the fourth Monday in a row that the market received a positive vaccine update, but the every update since the first one has had a diminishing effect on the major indices, suggesting a lot of the news was already priced in. To be fair though, market conditions were also ripe for month-end profit taking.

In other corporate news, S&P Global (SPGI 351.78, +10.21, +3.0%) agreed to merge with IHS Markit (INFO 99.46, +6.88, +7.4%) in an all-stock transaction that values IHS at $44 billion, and Nikola (NKLA 20.41, -7.52, -26.9%) shares tanked 27% after General Motors (GM 43.84, -1.22, -2.7%) announced a revised partnership that excludes an equity stake.

Separately, reports indicated that the Trump administration is planning on adding China's largest semiconductor foundry and one of its largest oil companies to a defense blacklist. The Philadelphia Semiconductor Index rose 1.2% despite the news, as the market held back typical retaliation concerns.

U.S. Treasuries finished little changed in a muted session. The 2-yr yield declined one basis point to 0.14%, and the 10-yr yield was flat at 0.84%. The U.S. Dollar Index increased 0.2% to 92.00.

Reviewing Monday's economic data:

The Chicago PMI for November decreased to 58.2% (Briefing.com consensus 58.1%) from 61.1% in October.
Pending home sales decreased 1.1% in October (Briefing.com consensus +1.0%) following a revised 2.0% decline in September (-2.2%).

Looking ahead, investors will receive the ISM Manufacturing Index for November, Construction Spending for October, and auto and truck sales for November on Tuesday.

Nasdaq Composite +36.0% YTD
S&P 500 +12.1% YTD
Russell 2000 +9.1% YTD
Dow Jones Industrial Average +3.9% YTD

Market Snapshot

Dow	29638.58	-271.73	(-0.91%)
Nasdaq	12198.65	-7.11	(-0.06%)
SP 500	3621.65	-16.72	(-0.46%)
10-yr Note	0/32	0.845

NYSE	Adv 953	Dec 2116	Vol 1.9 bln
Nasdaq	Adv 1325	Dec 2258	Vol 7.5 bln

Industry Watch

Strong: Information Technology, Health Care

Weak: Energy, Financials, Utilities

Moving the Market

-- Profit-taking interest in the energy sector and other cyclical parts of market

-- Moderna (MRNA) provided another encouraging vaccine update

-- Relative strength in the technology and health care sectors

WTI crude futures settle slightly lower
30-Nov-20 15:30 ET

Dow -361.61 at 29548.70, Nasdaq -17.40 at 12188.36, S&P -22.53 at 3615.84
[BRIEFING.COM] The S&P 500 is down 0.6% while the Nasdaq (-0.1%) has slipped into the red.

One last look at the S&P 500 sectors shows information technology (+0.6%) building on its intraday rebound after being down 1.1% earlier today. The energy sector is down 4.3% amid profit-taking interest (it's still up 28% this month) and angst that OPEC+ might not extend production cuts by another three months starting Jan. 1.

The latter didn't affect oil prices too much today. WTI crude futures settled lower by 0.2%, or $0.08, to $45.37/bbl.

To: Return to Sender who wrote (86021)

12/1/2020 4:17:01 PM

From: Return to Sender

3 Recommendations

Recommended By
oldbeachlvr
Sr K
The Ox

Read Replies (2) | Respond to of 95427

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

New Highs:

Mon	Tues
ASML	ADI
AVGO	ALGN
COST	AMAT
KLAC	ASML
MELI	AVGO
MRNA	CHTR
MU	COST
TMUS	CTSH
TSLA	FAST
TTWO	GOOGL
XLNX	KLAC
	LRCX
	MCHP
	MELI
	MRNA
	MU
	MXIM
	PEP
	PYPL
	TMUS
	XLNX